Cloud computing is the name of the game when it comes to finance, with the cloud division of Amazon Web Services providing the technological architecture that increasingly underlies Wall Street. Following a two-year collaboration, AWS is now teaming up with an unusual partner for cloud service trading operations: Goldman Sachs.
The partnership with AWS puts Goldman Sachs in the enviable scenario of providing cloud services for its rivals on Wall Street. According to a Goldman spokesman, GS Financial Cloud for Data with Amazon Web Services will only solidify the financial titan’s position as a market leader.
The new service represents an effort to exploit Goldman’s more than 150 years of experience in trading, giving clients a fast and convenient window into the insights provided by aggregated data to best inform their trades. Previously, wrangling the massive amounts of data used to compare a given stock to trends like currency exchange rates would take weeks or even months. Co-Chief Information Officer of Goldman Marco Argenti hails the service as a first in the field: “If this existed we would’ve used it, but we had to build it for ourselves because there really is nothing like this in the market.”