Google Cloud has launched a service designed to help the capital markets industry share market data more securely and easily.
Google argues that the proliferation of traditional and alternative data sources in financial services has created a need for a more streamlined solution for sharing information quickly and securely.
Investment banks, asset managers, and other data consumers are demanding more choice in how they receive their licensed data, and they also need tools that allow them to be nimble with that data, without having to invest in on-premises computing infrastructure.
Meanwhile. publishers, like exchanges and aggregators, are struggling to meet growing customer demand, and need to deliver their data with more ease and flexibility.
Google's answer is Datashare for financial services. Publishers can onboard their licensed datasets to Google Cloud securely, quickly, and easily, while consumers can access that data in tools like BigQuery.
Christin Brown, global FS industry technical solutions leader, Google Cloud, says: "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.
"Datashare solves this problem by making market data accessible and beneficial to both publishers and consumers."