Google Cloud launches DataShare to help Capital Markets industry to share data more easily

Karthik Subramanian

Google Cloud today announced the launch of DataShare, a tool that can be used by data publishers like exchanges and other providers and data consumers like banks, hedge funds, and asset managers to share data more easily and securely as well.

With the growth in trading and the number of instruments, the amount of data that needs to be consumed and published has increased manifold over the last few years making it very difficult for both publishers and consumers.Also, the consumers do not have much choice on how they receive the data and as a result, have had to rely on very costly on-site infrastructure to consume the data. The publishers face a similar kind of issue as they have to supply the data safely and securely.

With the launch of DataShare at the Google Cloud Financial Services Summit, the data would be more organised and the consumers can easily get the data using BigQuery.

“As the global data landscape continues to evolve, market data publishers need to consider cloud-based models to keep up with the demands of their customers who expect easy, flexible, and cost-efficient ways to consume market data,” said Christin Brown, global Financial Services industry technical solutions leader, Google Cloud. “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.”

The DataShare delivers data in large datasets that can be read through BigQuery and also supports real-time data streaming. Also, users can upload their license datasets into Google Cloud and monetize them by listing them on Google Marketplace providing them with a big consumer reach.

Google Cloud has recently started working with major companies and clients to supply data and also to make data access easier. The clients include major exchanges like CME Group which uses Google Cloud to stream real-time data and Refinitiv which offers its tick history data through Google Cloud.

The entry of a major cloud platform into the financial services industry with specific products augurs well for the domain as a whole. For long, data storage and handling have been a major issue with different companies coming up with different, disparate solutions but with Google Cloud DataShare, this process is likely to be streamlined in due course of time and this would help asset managers, banks, and other to save a lot of money and effort in handling such gigantic volumes of data.

Read this next

Metaverse Gaming NFT

DCentral Miami brings together all of Web3, NFT, DeFi, Metaverse

The world’s biggest Web3 meeting entitled DCENTRAL Miami is set to take place November 28-29, featuring a lineup of some of the biggest and most influential names in the blockchain space.

Digital Assets

Crypto ban expands across UK banks as Starling joins ‎crackdown

UK digital bank Starling has banned ‎all customer payments related to cryptocurrencies, another blow for the crypto traders ‎who recently saw a sizable number of banks deciding not to ‎finance the wobbly asset class.‎

Interviews

Markets Direct at FIA EXPO 2022: Traders know what they want from brokers

The FIA Expo 2022, one of the most prestigious events within the global derivatives trading industry, took place in Chicago on 14 & 15 November.

Interviews

FIA Expo 2022: TNS addresses public cloud limitations with hybrid infrastructure

November is the month of the FIA Expo, one of the largest futures and options conferences in the world, bringing together regulators, exchanges, software vendors, and brokers in one place: the Sheraton Grand Chicago Riverwalk. 

Retail FX

Italy’s regulator blacks out Finance CapitalFX, MFCapitalFX

Italy’s Commissione Nazionale per le Società e la Borsa (CONSOB) has shut down new websites in an ongoing clampdown against firms it accuses of illegally promoting investment products in the country.

Retail FX

Suspected leader of Honk Kong ramp-and-dump scam appears in court

A leader of a sophisticated ramp-and-dump scheme made his first court appearance in a Hong Kong court today, charged with market manipulation and various criminal offences. The case stems from an earlier joint operation of Hong Kong’s financial watchdog, the Securities and Futures Commission (SFC), and the local police. 

Institutional FX

Cboe’s James Arrante discusses growing demand for fixed income, FX algo

We caught up with James Arrante, senior director of FX & US treasuries product and business management at Cboe Global Markets, to uncover emerging trends in the FX and fixed income markets and learn more about the bourse operator’s recent initiatives.

Retail FX

Eurotrader acquires UK broker Petra Asset Management

Eurotrader Group has formally entered into the UK market with the acquisition of FCA-regulated broker, previously named Petra Asset Management Ltd. The new entity operates under the brand name Eurotrade Capital Ltd.

Inside View, Retail FX

The Game of Chess Continues – OPEC, China and the Oil Market

Over the past decade, the US has been complaining about the amount of power which the BRIC group, and specifically China, has on the global economy. BRIC stands for Brazil, Russia, India and China; these were the world’s fastest growing economies. Only in the past 10 months, the US has turned their attention toward OPEC due to the prices of fuel. Nevertheless, China seems to have a strong influence even over the price of crude oil.

<