Google Cloud rolled out Datashare for financial services, created to help market data publishers, such as exchanges, and data consumers, such as hedge funds and investment banks, exchange market data. The platform is developed on Google Cloud analytics services such as BigQuery and will harness Analytics Hub, according to a Thursday (May 27) press release.
Datashare for financial services, which is constructed on Google Cloud, satisfies the requirements of market data publishers and data consumers as it organizes third-party data and increasing its accessibility and usefulness. To that end, data publishers can bring their licensed datasets to Google Cloud, and data consumers can find that data in tools such as BigQuery.
“Stakeholders in the ecosystem, including consumers, corporate and investment banks, asset managers, and hedge funds, are increasingly asking data publishers for data delivery via the cloud,” Christin Brown, global financial services industry technical solutions leader at Google Cloud, said in the announcement. “Datashare solves this problem by making market data accessible and beneficial to both publishers and consumers.”
Batch data delivery, among other features of Datashare, assists publishers in providing their reference data, alternative market data sources, historical tick data and other offerings through BigQuery, which makes it easier for data consumers to glean insights.
Another feature, real-time data streaming, lets data consumers dependably process individual messages or go back to a previous time to replay a past market scenario and test model changes.
And, with the data monetization feature, market data publishers can put their licensed datasets on Google Cloud, and make them accessible by the way of the Google Cloud Marketplace.
“By making our data available via Datashare, we can empower firms to easily access, share and distribute the critical time series market data needed to drive trading operations, run sophisticated analytics and meet demanding compliance requirements,” Ross Dubin, senior vice president, global head of sales, OneTick, said in the announcement.