Nasdaq has confirmed the launch of its new cloud-based data service, which will give customers access to real-time exchange data, index, and fund data.
Known as Nasdaq Cloud Data Service (NCDS), the business will run on Amazon Web Services cloud technology, to increase support, ease of use, agility and scale for NCDS clients, the US exchange group said.
“Nasdaq Cloud Data Service is a significant advancement in the financial data space, as it uses the cloud to stream important, real-time market data tailored to our clients’ specific needs. Adding the cloud to the data equation through our collaboration with AWS is a big win for investors,” added Lauren Dillard, head of global information services at Nasdaq.
NCDS will make Nasdaq data available worldwide in real time using cloud-based application programming interfaces (APIs), which eliminates the need for hardware, proprietary protocols, file formats, and leased lines. Integration of disparate source data is also more efficient, and time to market for customer-designed applications reduced.
“AWS is delighted to play a part in how Nasdaq provides real-time data to customers. NCDS represents one of the most recent examples of how Nasdaq and AWS’s multi-year history of collaboration continues to meet market participants’ evolving needs, specifically the delivery of data directly into applications, on-demand, anywhere in the world,” added Frank Fallon, vice president of AWS sales for financial services.
NCDS will compatible with multiple cloud providers and will give entrepreneurs, FinTech firms and traditional applications low latency and high performance.