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NASDAQ OMX FinQloud

What is FinQloud?

NASDAQ OMX FinQloud, powered by Amazon Web Services, is a secure cloud computing platform designed exclusively for the financial services sector. FinQloud combines AWS cloud computing expertise with enhanced security from NASDAQ OMX to provide a cost-effective and efficient way to manage and store financial data as mandated by regulation. The platform helps firms drastically reduce the operational costs and complexities associated with data and infrastructure management—enabling more effective deployment of scarce resources.

FinQloud Offerings

Regulatory Records Retention (R3) Storage Solution

FinQloud's Regulatory Records Retention (R3) storage solution helps broker-dealers meet record archival and retrieval requirements at substantially reduced cost and complexity over current options.

 

R3 is the first-ever cloud storage solution designed to help firms comply with SEC Rule 17A-4 (Books and Records) requirements.

  • Indexing: R3 records and logs key properties of each stored file in order to build a comprehensive database used for managing, identifying, and retrieving stored data.
  • Audit: R3 provides detailed logs of all system activity for every file, so that a full account of each record is available from the time a file is received, stored, retrieved, or reaches the end of its useful life.
  • Ensure data quality: For each file a customer uploads, R3 performs a scan and computes a unique identifier that can be used to verify that a file has not been altered or compromised at any stage in its lifecycle. R3 is built to regularly compare the original against a computed version after the file is stored.

 

R3 Tools - Upload and Access Data Easily

Query: FinQloud's Query is a browser-based data management utility that empowers broker-dealers to easily access their stored data, documents and other records by providing fast access and granular search capabilities. Designed to process petabytes of data quickly and efficiently, Query facilitates fast, on-demand search and retrieval of information across multiple file formats.

Skygate: Skygate is a java application that runs on a customer's existing computing environment and performs a set of functions designed to automate the process of preparing and uploading data for ingestion into R3. SkyGate currently includes the following functions:

  • Generation of metadata properties based on pre-set client created rules
  • Automated creation of required .metadata files
  • Monitoring of client designated datasets and directories for new or updated files that should be sent to R3
  • Automatic encryption and upload of files to R3 at pre-set intervals

 

AWS Web-Based Services

Customers can now procure all of Amazon Web Services (AWS) web-based services to reduce their operational expenditures, improve productivity and efficiency and increase agility with the ability to scale to meet evolving business and compliance challenges. AWS industry-leading compute, database and storage solutions provided through through FinQloud give broker-dealers the building blocks they need to creatively redefine their businesses without costly capital expenditures and investments in infrastructure.

Additionally, AWS web services can be used in close proximity to FinQloud Regulatory Records Retention (R3). Firms can therefore put their regulatory data to use in other systems, providing more opportunity to reduce the costs and complexities of data management.

Key Benefits

Cost-Effective Data Storage

FinQloud helps organizations be more agile and competitive by empowering them to easily scale resources.

Accessibility

FinQloud provides centralized access to data that is otherwise segregated across multiple data centers or in-house servers. Firms gain fast, efficient data retrieval capabilities and a golden copy of all data.

Enhanced Security

To meet the stringent operational and regulatory security requirements of the financial industry, NASDAQ OMX has added advanced security measures on top of the robust existing AWS security infrastructure. Client regulatory data stored in FinQloud is required to pass through a rigorous encryption key management system, which will be housed in private NASDAQ OMX data centers, before directly connecting to AWS.

Privacy

FinQloud leverages private networking, direct connectivity and encrypted storage capabilities from AWS to provide privacy and anonymity of data. Combined with audit and verification capabilities, FinQloud maintains the integrity of customer data.

Compliance

FinQloud is designed to address fundamental compliance requirements, such as the ability to provide WORM compliant storage, enhanced data security measures and audit trail capabilities.

Agility

FinQloud helps organizations be more agile and competitive by empowering them to easily scale resources.

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