NEW YORK, June 18, 2013 (GLOBE NEWSWIRE) -- Tradier, Inc. 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."
About Tradier, Inc.:
Tradier, Inc. (www.tradier.com) is a financial services cloud platform provider that offers a ground breaking platform to serve Platform Providers, Banks and Traders. The Tradier offering features an innovative set of fully hosted API's, modules and "out of the box" tools that are leveraged by a growing list of providers.
About Tradier Brokerage Inc.:
Tradier Brokerage, Inc. member FINRA, SIPC is an independent subsidiary of Tradier Inc.
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 cost-effective and efficient management, storage and processing of financial data. FinQloud helps firms significantly reduce the operational costs and complexities associated with data and infrastructure management – enabling more effective deployment of scarce resources.
A product of NASDAQ OMX's unique financial technology domain expertise and Amazon's secure, flexible and cost-effective cloud infrastructure, FinQloud enables financial market participants to benefit from the economic and performance advantages of cloud computing, in a manner designed to comply with regulatory and security requirements. Flexible, reliable and highly scalable, FinQloud is fully-managed and designed to immediately help firms reduce their technology burden, aid in compliance and refocus resources on revenue driving activities, even as data volumes and regulatory initiatives continually rise. To learn more visit www.nasdaqomx.com/FinQloud or contact FinQloud@nasdaqomx.com
About NASDAQ OMX:
The inventor of the electronic exchange, The NASDAQ OMX Group, Inc., fuels economies and provides transformative technologies for the entire lifecycle of a trade - from risk management to trade to surveillance to clearing. In the U.S. and Europe, we own and operate 24 markets, 3 clearinghouses and 5 central securities depositories supporting equities, options, fixed income, derivatives, commodities, futures and structured products. Able to process more than 1 million messages per second at sub-40 microsecond speeds with 99.999% uptime, our technology drives more than 70 marketplaces in 50 developed and emerging countries into the future, powering 1 in 10 of the world's securities transactions. Our award-winning data products and worldwide indexes are the benchmarks in the financial industry. Home to approximately 3,400 listed companies worth $6 trillion in market cap whose innovations shape our world, we give the ideas of tomorrow access to capital today. Welcome to where the world takes a big leap forward, daily. Welcome to the NASDAQ OMX Century. To learn more, visit nasdaqomx.com. Follow us on Facebook (http://www.facebook.com/NASDAQ) and Twitter (http://www.twitter.com/nasdaqomx). (Symbol: NDAQ and member of S&P 500)
Cautionary Note Regarding Forward-Looking Statements
The matters described herein contain forward-looking statements that are made under the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements include, but are not limited to, statements about FinQloud and NASDAQ OMX's other products and offerings. We caution that these statements are not guarantees of future performance. Actual results may differ materially from those expressed or implied in the forward-looking statements. Forward-looking statements involve a number of risks, uncertainties or other factors beyond NASDAQ OMX's control. These factors include, but are not limited to factors detailed in NASDAQ OMX's annual report on Form 10-K, and periodic reports filed with the U.S. Securities and Exchange Commission. We undertake no obligation to release any revisions to any forward-looking statements.
Amazon Forward-Looking Statements
This announcement contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Actual results may differ significantly from management's expectations. These forward-looking statements involve risks and uncertainties that include, among others, risks related to competition, management of growth, new products, services and technologies, potential fluctuations in operating results, international expansion, outcomes of legal proceedings and claims, fulfillment and data center optimization, seasonality, commercial agreements, acquisitions and strategic transactions, foreign exchange rates, system interruption, inventory, government regulation and taxation, payments and fraud. More information about factors that potentially could affect Amazon.com's financial results is included in Amazon.com's filings with the Securities and Exchange Commission, including its most recent Annual Report on Form 10-K and subsequent filings.
CONTACT: Tradier Media Contact: firstname.lastname@example.org NASDAQ OMX Media Contact: Robert Madden +1 (646) 441-5045 (office) +1 (347) 740-0191 (mobile) Robert.Madden@NASDAQOMX.com
In This StoryNDAQ
Nasdaq Press Center
Read the latest press releases, request a press kit, and get in touch with our press team.