The Australian Securities Exchange (ASX) has migrated its data and analytics footprint to Google Cloud with the aim of improving product innovation and extending access to insights for the exchange and its customers. The move is part of a broader business and technology transformation at ASX.
The migration sees the exchange’s DataSphere data science and commercialisation platform, which provides access to data, analytics, and innovation for ASX and its partners, using Google Cloud data and analytics technologies to drive actionable insights from the platform, with scale and security at the core.
“Data is central to our strategy, financial markets depend upon reliable, timely and relevant data,” says Dan Chesterman, group executive, technology and data, and CIO at ASX. “We operate infrastructure that underpins both the Australian and New Zealand financial markets, so having access to best-in-class technology is critical. Our collaboration with Google Cloud enables us to make data and insights accessible in a flexible and scalable environment. It will help us bring new products and services to market faster.”
Alister Dias, vice president, Google Cloud, Australia and New Zealand, adds: “By partnering with Google Cloud, ASX can fast-track product innovation by unifying its vast data estate and accelerating insights for its partners.”
ASX is currently building new products with its debt, equities and futures market data, and investigating opportunities to collaborate on product development with Google Cloud.
The exchange’s business and technology transformation is renewing several core platforms, which will see the average age of equity market technologies drop from over 20 years to an average of less than five. The modernisation is also introducing contemporary technology and digitising more parts of the business to deliver improved customer experience.
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