Refinitiv is now delivering its financial data via the Amazon Web Services (AWS) cloud platform to clients in the Asia-Pacific region.
Real-time data from Refinitiv’s Elektron platform will be made available to users in a move to simplify access to real-time price information and reducing the need for investment in on-premise infrastructures, while also accelerating time to market.
The growth of cloud-based technologies has meant financial institutions are adapting to new data delivery models, which can provide access to historic and real-time data for analytics, risk modelling and business intelligence derived from machine learning.
A recent survey from Refinitiv found that its Asia-based clients intend to “rapidly increase their investment in public cloud to maximise the benefits of managing the financial data that powers their business decisions.” 86% of those surveyed in Asia indicated they planned to use public cloud for the majority of their market data needs in under four years.
“It’s clear to us that Asia-based firms are starting to aggressively accelerate their cloud plans as they realise how leveraging the cloud across their market data infrastructure can help them move faster, grow their business, reduce their costs and better manage their risks,” said Alfred Lee, managing director, Asia Pacific at Refinitiv. “Refinitiv is directly meeting the needs of our clients in this region through this cooperation with AWS.”
The acquisition, pending regulatory approval, is expected to close in H2 2020 and LSEG said it would “significantly enhance” the exchange’s position in data and analytics, forming a global multi-asset capital markets business with high-growth FX and fixed income venues, via the FXall and Matching platforms, and Tradeweb, in which Refinitiv is a majority shareholder.