This website collects cookies to deliver better user experience. Cookie Policy
Accept
Sign In
The Wall Street Publication
  • Home
  • Trending
  • U.S
  • World
  • Politics
  • Business
    • Business
    • Economy
    • Real Estate
    • Markets
    • Personal Finance
  • Tech
  • Lifestyle
    • Lifestyle
    • Style
    • Arts
  • Health
  • Sports
  • Entertainment
Reading: Nasdaq to Move Markets to Amazon’s Cloud
Share
The Wall Street PublicationThe Wall Street Publication
Font ResizerAa
Search
  • Home
  • Trending
  • U.S
  • World
  • Politics
  • Business
    • Business
    • Economy
    • Real Estate
    • Markets
    • Personal Finance
  • Tech
  • Lifestyle
    • Lifestyle
    • Style
    • Arts
  • Health
  • Sports
  • Entertainment
Have an existing account? Sign In
Follow US
© 2024 The Wall Street Publication. All Rights Reserved.
The Wall Street Publication > Blog > Tech > Nasdaq to Move Markets to Amazon’s Cloud
Tech

Nasdaq to Move Markets to Amazon’s Cloud

Editorial Board Published November 30, 2021
Share
Nasdaq to Move Markets to Amazon’s Cloud
SHARE

Nasdaq Inc. said that next year it plans to begin moving its North American markets to Amazon. com Inc.’s Amazon Web Services cloud-computing platform.

Contents
Nasdaq CEO Adena Friedman.Newsletter Sign-upWSJ | CIO Journal

The move, which will take a phased approach starting with Nasdaq MRX, a U.S. options market, involves turning over massive amounts of the exchange operator’s data to a third-party cloud service. Nasdaq didn’t disclose a timeline for moving its other markets.

Nasdaq’s ambition is to become “one hundred percent cloud-enabled,” Adena Friedman, the company’s chief executive, said in announcing the move Tuesday at an AWS industry conference in Las Vegas. “We will follow with more of our markets as we work closely with clients,” Ms. Friedman said.

Nasdaq has previously said that all of its more than 25 markets will be hosted in the cloud within the next decade.

Nasdaq CEO Adena Friedman.

Photo: Simon Dawson/Bloomberg News

They include six equity markets in North America, including the Nasdaq Stock Market, as well as six equity derivative markets, the Nasdaq Baltic and Nasdaq Nordic markets, and fixed-income and commodity markets.

The financial-services sector has been slower to adopt cloud computing than other industries, stemming in part from the tight regulatory oversight of banks and exchanges, as well as concerns over breaches of sensitive client data.

“To the extent that they don’t disintermediate their trading partners and investors, moving to the cloud gives exchanges greater flexibility, as well as enables more people to connect, enables people to connect easier,” said Larry Tabb, head of market-structure research at Bloomberg Intelligence.

Earlier this month, CME Group Inc. and Alphabet Inc.’s Google struck a deal to move CME’s core trading systems to the cloud.

Nasdaq already stores billions of transaction records in a data warehouse operated by AWS, including daily orders and quotes transmitted by traders. Over the years, the company has migrated a number of services to AWS, including its revenue management system for the U.S. and European markets. Its existing relationship with AWS is a big reason Nasdaq said it chose the Amazon.com unit to host its markets.


Newsletter Sign-up

WSJ | CIO Journal

The Morning Download delivers daily insights and news on business technology from the CIO Journal team.


“We have had a longstanding relationship with them,” said Brad Peterson, Nasdaq’s chief technology and information officer.

Cloud systems and apps are hosted on data centers operated by third-party providers, including tech giants such as Amazon.com, Microsoft Corp. and Alphabet Inc.’s Google. The systems enable users to rapidly scale computing needs, based on demand, with far greater ease than in their own data centers.

Mr. Peterson has credited cloud systems for keeping Nasdaq from suspending trading in January, when a frenzy for shares of GameStop Corp. and a handful of other companies flooded popular online brokerages, caused a spike in market volatility and forced many operators to restrict access to trading.

He said moving markets to the cloud has the potential to provide the exchange with more security, greater reliability and better scalability, or the ability to quickly power up computing resources. Nasdaq and AWS could also create new cloud-based products and services for Nasdaq’s customers, Mr. Peterson said.

Scott Mullins, head of world-wide financial services business development at AWS, said Nasdaq’s growing use of cloud systems is driven by a need for elasticity and resilience to handle market volatility, along with hundreds of billions of trading events every day. “If you’re doing that on customized hardware, you’re going to have to guess what your capacity needs to be,” Mr. Mullins said.

The two companies have been working together to build out Nasdaq’s cloud-based capabilities since about 2012, Mr. Mullins said. “If you get a bill from Nasdaq today, it’s coming from a data lake sitting in AWS,” Mr. Mullins said.

“We’re only going to do it at a pace that works for us, AWS and our clients,” said Tal Cohen, executive vice president and head of North American markets at Nasdaq.

Ms. Friedman said the move announced Tuesday centers on the exchanges’ matching engines, systems that connect buyers and sellers and handle a vast number of price quotes and trades, many submitted by high-speed trading firms accustomed to having the exchange’s systems process orders in millionths of a second.

Mr. Peterson said that in the first phase of the move, Nasdaq’s primary data center for its U.S. equities and options markets in Carteret, N.J., will be expanded and AWS will install computing resources there. Traders will be allowed to connect their servers to AWS servers the same way they currently connect to Nasdaq’s servers, he said.

Write to John McCormick at [email protected] and Angus Loten at [email protected]

Copyright ©2021 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8

TAGGED:Tech NewsWall Street Publication
Share This Article
Twitter Email Copy Link Print
Previous Article Omicron Uncertainty Will Linger a While Omicron Uncertainty Will Linger a While
Next Article Covid-19 Variant Omicron Threatens U.S., Global Economies Covid-19 Variant Omicron Threatens U.S., Global Economies

Editor's Pick

Nicki Minaj Calls Cardi B’s Daughter ‘Ugly’; Cardi Shoots Again That Nicki’s Son Is Nonverbal Because of Drug Use Throughout Being pregnant

Nicki Minaj Calls Cardi B’s Daughter ‘Ugly’; Cardi Shoots Again That Nicki’s Son Is Nonverbal Because of Drug Use Throughout Being pregnant

Studying Time: 3 minutes The Nicki Minaj vs. Cardi B beef has been occurring for years. Like, mainly for so…

By Editorial Board 4 Min Read
The Seasonal Reset: 38 Simple Fall Updates for Max Coziness
The Seasonal Reset: 38 Simple Fall Updates for Max Coziness

The primary crisp morning of fall at all times seems like a…

8 Min Read
BMW recollects almost 200K autos as a consequence of fireplace danger, says house owners ought to park exterior
BMW recollects almost 200K autos as a consequence of fireplace danger, says house owners ought to park exterior

Try what's clicking on FoxBusiness.com. Practically 200,000 BMW house owners are being…

3 Min Read

Oponion

Santa Clara County actual property: Home on Quail Cliff Approach sells for ,925,000

Santa Clara County actual property: Home on Quail Cliff Approach sells for $2,925,000

7003 Quail Cliff Approach – Google Road View The spacious…

July 24, 2025

Mike Mizzle: The Rising Star Taking Social Media by Storm!

In the vast realm of social…

December 3, 2023

Kyle Chrisley Accused of STABBING Man Previous to Latest Arrest

It appears to be like like…

September 15, 2024

Offended buyer crashes lately bought Subaru via doorways at dealership

Try what's clicking on FoxBusiness.com. A…

December 11, 2024

This Wholesome Broccoli Cheddar Soup Packs All Your Veggies into One Bowl

If you happen to’ve been round…

January 16, 2025

You Might Also Like

Amazon Prime Large Deal Days Is Subsequent Week, however We Already Discovered 40 Early Offers
Tech

Amazon Prime Large Deal Days Is Subsequent Week, however We Already Discovered 40 Early Offers

It’s that point of yr once more, and Prime Day offers are again. The Amazon Prime Large Deal Days occasion—also…

15 Min Read
The Greatest Toiletry Baggage for Each Sort of Traveler
Tech

The Greatest Toiletry Baggage for Each Sort of Traveler

Others We ExaminedThere have been a number of nice luggage we tried whose options or designs simply did not add…

26 Min Read
Gear Information of the Week: Adobe Premiere Lands on iPhone, and Nothing Lets You Design Your Personal Widgets
Tech

Gear Information of the Week: Adobe Premiere Lands on iPhone, and Nothing Lets You Design Your Personal Widgets

Adobe has had a busy yr designing and redesigning a variety of its hottest apps for cell, and Premiere for…

7 Min Read
You Can Get Lenovo’s Gaming Handheld for 0 Off Proper Now
Tech

You Can Get Lenovo’s Gaming Handheld for $120 Off Proper Now

Excited by the fervor of latest gaming handhelds hitting the market however do not wish to shell out the massive…

3 Min Read
The Wall Street Publication

About Us

The Wall Street Publication, a distinguished part of the Enspirers News Group, stands as a beacon of excellence in journalism. Committed to delivering unfiltered global news, we pride ourselves on our trusted coverage of Politics, Business, Technology, and more.

Company

  • About Us
  • Newsroom Policies & Standards
  • Diversity & Inclusion
  • Careers
  • Media & Community Relations
  • WP Creative Group
  • Accessibility Statement

Contact

  • Contact Us
  • Contact Customer Care
  • Advertise
  • Licensing & Syndication
  • Request a Correction
  • Contact the Newsroom
  • Send a News Tip
  • Report a Vulnerability

Term of Use

  • Digital Products Terms of Sale
  • Terms of Service
  • Privacy Policy
  • Cookie Settings
  • Submissions & Discussion Policy
  • RSS Terms of Service
  • Ad Choices

© 2024 The Wall Street Publication. All Rights Reserved.

Welcome Back!

Sign in to your account

Lost your password?