Cloud services are becoming ubiquitous for data delivery: Google Cloud study

The cloud is becoming ubiquitous for data delivery, with 93% of trading systems, exchanges and data providers offering cloud-based data and services, according to a new study commissioned by Google Cloud.

The survey was conducted online by the Greenwich Coalition on behalf of Google Cloud from March 2021 to April 2021 among 102 institutional capital markets professionals in exchanges, trading systems, data aggregators, producers of data, asset managers, hedge funds and investment banks in eight countries, including the United States, Canada, France, Germany, Italy, the Netherlands, Switzerland and the UK.

“Our research found that while there are many drivers, the demand for easier accessibility is fueling the widespread adoption of cloud-based market data services and associated trading infrastructures, both on the buy side and on the market. sell side, ”Philip MoyerVice President, Strategic Industries, Google Cloud, wrote in a blog post.

The study commissioned by Google Cloud found that 100% of trading systems and exchanges are expected to use new cloud-based services, such as derivative data, over the next 12 months. In addition to trading systems, exchanges, and data providers, commercial and investment banks also offer additional connectivity, real-time data feeds, and cloud-delivered trading applications.

Below are the other key points of the report:

• 90% of purchasing companies surveyed are currently consuming cloud-deployed market data primarily for portfolio management, and 70% of them are expected to consume even more cloud-deployed data over the next 12 months.
• Currently 50% of exchanges, trading systems and data providers offer data products / services powered by artificial intelligence and machine learning, 42% of which intend to offer execution services AI-powered trading and trading analytics over the next 12 months.
• 55% of commercial and investment banks are currently using AI / ML in the cloud.
• Exchanges, trading systems and data providers prioritize the public cloud for internal information, with 71% of companies surveyed using it primarily for long-term data transmission, processing, analysis and storage .
• Over the next 12 months, 33% of new public cloud workloads will focus on data mining, data insights and advanced analytics, while 28% of new investments in tools and infrastructure of AI / ML will focus on faster risk analyzes and reviews, and 27% will focus on maintaining data quality.