ASX chooses Google Cloud for data migration
The Australian Securities Exchange announced that it has migrated its data and analytics footprint to Google Cloud, making it the preferred cloud partner for building its data product innovation strategy.
The data difference
The Australian Securities Exchange (ASX) The data science and commercialization platform is DataSphere, which provides access to data, analysis and innovation for ASX and its partners.
ASX leverages Google Cloud to drive actionable insights from the platform with scalability and security at its core.
ASX’s financial data ecosystem will provide partners with access to unique datasets, deeper insights powered by machine learning, end-to-end governance, and tools to create, market and distribute new financial models to their clients.
“We operate critical infrastructure that underpins the Australian and New Zealand financial markets, so having access to best-in-class technology is essential. Our collaboration with Google Cloud allows us to make data and information accessible in a flexible and scalable environment. This will help us bring new products and services to market faster,” said ASX Group Chief Technology and Data Officer and Chief Information Officer. Dan Chesterman.
ASX is currently developing new products with its debt, equity and futures data, and is exploring opportunities for product development collaboration with Google Cloud.
ASX’s Technology Transformation
Supported by implementation partner Servian, the migration to Google Cloud is part of ASX’s broader business and technology transformation.
The exchange is in the process of renewing several core platforms which will see the average age of core equity market technologies drop from over 20 years to an average of less than five years.
This migration allowed ASX to introduce technology models and digitize more parts of its business to deliver an improved customer experience.
“By partnering with Google Cloud, ASX is accelerating product innovation, unifying its vast data estate and accelerating insights for all of its partners and truly unlocking the value of data and analytics,” said the Vice President of Google Cloud for Australia and New Zealand. Alister Dias.
Focus on skills and training
Google Cloud and Servian also offered customized training and enablement plans for employees to equip them with the skills needed to run DataSphere with Google Cloud technology.
It also extends to a cross-ASX training program that will provide employees with the opportunity to learn and apply the latest technologies to their work. The result will be a workforce rich in cloud experience and ready to accelerate the exchange’s technology ambitions.
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