Refinitiv has expanded its use of cloud technology by placing its archive of pricing and trading data on the Google Cloud platform.
The tick history dataset includes over the counter (OTC) and exchange-traded securities from all asset classes from more than 500 trading venues dating back to 1996. Clients will be able to access, query and analyse the datasets using machine learning technology from Google Cloud’s enterprise data warehouse, BigQuery.
“Combining Google Cloud’s machine learning tools with Refinitiv’s tick history data in BigQuery is a step-change for customers looking to develop new trading models, interpret trade patterns or comply with regulations,” said Catalina Vazquez, proposition director of tick history at Refinitiv.
“The cloud is changing the paradigm for the financial community, enabling less time and money spent managing data and more time innovating and getting answers from data that gives a competitive edge.”
A survey from Refinitiv conducted last year found that 64% of firms agree that cloud technology will be a transforming sector over the next five to 10 years, with 300 senior executives adding that the benefits are not just to do with cost, but also resilience, agility and innovation.
Refinitiv added that the machine learning capabilities will also allow users to build and back-test trading strategies, as well as perform quantitative research and analysis and meet regulatory requirements.
“At Google Cloud, we are committed to partnering with the industry on solving complex problems,” Adrian Poole, head of financial services in the UK at Google Cloud, also commented. “Working with Refinitiv, we are delighted to help the company with the delivery of its customer commitment to provide its datasets on Google Cloud platform.”