Tradier selects Nasdaq OMX FinQloud for cloud-brokerage-in-a-box

Source: Tradier

Tradier today announced they have selected Nasdaq OMX FinQloud, a secure, cloud computing platform designed exclusively for the financial services sector and powered by Amazon Web Services (AWS), to build their 'cloud brokerage in a box.'

Tradier is a newly formed next generation financial services technology solution that provides a fully bundled trading platform for tool providers, online banks and developers to create powerful online and mobile trading experiences for their users. The company will use FinQloud's expanded ecosystem of compute, network, storage and database solutions from AWS to build all critical aspects of its offering that include a rich set of API's, Web/Mobile Modules and secure services.

Through their collaboration with NASDAQ OMX FinQloud, Tradier will eliminate the need to lease data center space and procure in advance a substantial amount of technology infrastructure. This will enable end-to-end business operation in a scalable, secure and cost effective manner. Tradier will reduce its product development lifecycle and time-to-market by leveraging FinQloud instead of deploying a traditional "procure-develop-deliver" model. In addition, Tradier Brokerage Inc.* (a subsidiary of Tradier Inc.) will use FinQloud's Regulatory Records Retention (R3) data storage solution to assist in meeting its books and records data storage requirements and will also use FinQloud's 'Query' search and retrieval application for that data.

"Enabling innovation is at the heart of Tradier's game changing strategy and we are delighted to work closely with like-minded companies such as NASDAQ OMX and AWS," said Dan Raju, Chief Executive Officer of Tradier, Inc. "We believe this relationship will help Tradier clients build and deliver powerful, customer-centric applications for their users."

The FinQloud ecosystem, which now includes even more AWS services, provides customers access to a set of computing services from AWS which can be leveraged for functions such as cost-effective storage, high performance computing, mission-critical applications, and testing environments. FinQloud's expanded set of services can be utilized alongside FinQloud's R3, a unique regulatory data storage system that provides the first cloud-based Write Once Read Many (WORM) compliant data storage solution that may be used by firms to comply with Rule 17a-4 of the Securities and Exchange Act and CFTC Regulation 1.31. Firms can now put their regulatory data to use in other systems, thereby providing the opportunity to further reduce the cost and complexity of data management by eliminating the need for redundant silos of storage and transfer solutions across multiple systems.

"Providing a complete suite of AWS services in FinQloud represents the next step forward in the transformation of the way the financial services industry builds, provisions, and manages mission critical applications," said Stacie Swanstrom, Head of Access Services at NASDAQ OMX. "We give customers the ability to leverage AWS services alongside the secure R3 regulatory data storage, further expanding the FinQloud ecosystem. This empowers market participants to re-architect their businesses for the future."

"FinQloud is removing the barriers that financial services organizations have faced when launching new applications," said Adam Selipsky, Vice President of AWS. "Tradier has built their entire business on FinQloud powered by AWS, and is a great example of how innovators in the financial services industry are bringing exciting new apps to market faster, avoiding large CapEx investments and lowering costs while meeting their regulatory obligations. We're pleased to continue our deep relationship with NASDAQ OMX in offering more AWS services to the FinQloud platform, and congratulate Tradier on the launch of their business, which will help customers save time and lower costs." 

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