Nasdaq OMX FinQloud announced Tuesday morning the addition of Kenshō, a provider of next-generation data analytics, to their cloud computing platform. Nasdaq seems to be on a roll with its dedicated cloud computing platform, FinQloud, the day prior it announced Kindling, a social innovation platform, will also join their platform.
FinQloud is exclusively for the financial services sector and powered by Amazon Web Services (AWS). The firms that use FinQloud are diverse, choosing to join for efficiency, the ability to scale, and access to data and infrastructure, with the hope it will allow for more innovation on the product side.
According to Tuesday morning's press release, "Kenshō is building tools to enable every financial professional – not just quantitative analyst, programmers and data scientists at the largest institutions – to ask and answer hard questions about global events and their effects on securities prices…. Running on FinQloud, Kenshō can instantly bring supercomputing to finance professionals in small and large firms alike so they can benefit from capabilities that were previously available to only a few banks and hedge funds."
“FinQloud offers a platform for innovation to create dramatically better tools, without the overhead of massive infrastructure investment,” said Julia Sears, associate vice president of FinQloud. “We are pleased to host Kenshō as our relationship enables the FinQloud ecosystem to serve as a one-stop financial technology infrastructure destination where those who build systems have access to everything they need.”
Kenshō, which currently boasts over 3,000 users including leading financial institutions, says, now powered by FinQloud they will "continue to introduce new ways to bring Silicon Valley to Wall Street with premier West Coast engineers whose expertise will disrupt capital markets analytics technology."
Other recent and notable firms to join the platform include StockTouch, a market data visualization tool using gamer mechanics, and Jordan & Jordan, an execution and compliance service. For an industry laden with skepticism for the cloud's ability to meet security standards, each new firm joining Nasdaq's FinQloud represents a shift in the tide.