R3 will enable brokers to store and retrieve data, in compliance with US financial authorities’ regulations on records retention. SSR will generate customised data reports and analysis.

Andy Jassy, vice president of Amazon Web Services, said: “R3 and SSR, are tailor-made for Amazon Web Services and cloud computing. Storing and retrieving data can be done quickly, easily, and inexpensively. And with the scalability, cost-effectiveness, and flexibility of the cloud, customers can quickly conduct analysis and reporting regardless of the amount of data”.

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To ensure data protection, Nasdaq says that FinQloud will have an encryption key management system, and the information will reach Nasdaq private data centres before going to Amazon servers.