Google Launches Datashare for Financial Services, Enabling the Capital Markets Industry To Efficiently and Securely Share Market Data

Google Cloud announced Datashare for Financial Services today, a new solution designed to enable the whole capital markets ecosystem—market data publishers such as exchanges and other providers, and data consumers such as investment banks, asset managers, and hedge funds—to start sharing market data more securely and easily. Datashare is based on Google Cloud analytics services such as BigQuery and can use Analytics Hub. At the Google Cloud Financial Services Summit, Datashare was unveiled.

The growth of traditional and alternative data sources in financial services has generated a demand for a more efficient approach for swiftly and securely sharing information. Investment banks, asset managers, and other data consumers want more flexibility in how they acquire licenced data, as well as technologies that allow them to be agile with that data without investing in costly on-premises computer equipment. Simultaneously, data publishers such as exchanges and aggregators are straining to satisfy rising client demand and must distribute their data with greater simplicity and flexibility.

"Data publishers and data consumers are in need of processing large volumes of data from disparate sources quickly, and need access to it all in one place at the touch of their fingertips," Explains senior analyst of Coalition Greenwich, David Easthope. He also adds, "According to our research, over two-thirds of end users of market data across the globe believe it is critical for market data providers to have improved accessibility via the cloud."

Datashare for financial services, built on Google Cloud, fulfils the demands of both market data publishers and data consumers by organising and making third-party data more accessible and valuable. Data publishers may use Datashare to safely, swiftly, and simply onboard their licenced datasets to Google Cloud, while data consumers may access that data using tools like BigQuery.


Datashare has the following features:

Batch data delivery: This Feature enables publishers to send reference data, historical tick data, alternative market data sources, and more through BigQuery, lowering the administrative load on data consumers looking for insights.

Real-time data streaming: Data consumers can reliably process individual messages or rewind to a point in time to replay a prior market scenario and test model changes by using this event-based data delivery channel for rapidly changing instrument prices, tick data, orders, news, and others via Pub/Sub. Market data publishers may onboard their licenced datasets to Google Cloud and make them available through Google Cloud Marketplace, opening up new sales channels and broadening their client reach.

Publishers who work with Datashare

Google Cloud is collaborating with several data publishers to bring Datashare to life for the industry and connect new sources to prospective clients. OneTick and Accern are among the datashare producers that have signed on to the solution.

"By making our data available via Datashare, we can empower firms to easily access, share and distribute the critical time series market data needed to drive trading operations, run sophisticated analytics and meet demanding compliance requirements," states, Global Head of Sales of OneTick and senior vice president, Ross Dubin.

Riyaz Nakhooda, vice president,  Strategic Partnerships, Accern explains, "Delivering data in a way that is clean, seamless, and inexpensive has become a challenge, as data complexity and volume increases,". He also explains, "With Datashare, Accern is able to supply our clients with quality AI-generated insights on ESG, news, credit and more at a fraction of the cost of legacy data centers."

The industry's momentum

This launch also builds on Google Cloud's recent momentum in collaborating with exchanges and market data aggregators to make it easier for investment banks, asset managers, hedge funds, and other data users to access and share their data.
CME Group, which provides real-time market data via Google Cloud, and Refinitiv, a London Stock Exchange Group (LSEG) firm, both offer tick history data via Google Cloud.

"Over the last year, market participants have realized the power of having reliable market data instantly available at their fingertips," mentions Trey Berre, global head of Data Services, CME Group. He further adds, "We are excited to see this development from Google Cloud, which will provide our customers with new capabilities to analyze and engage with our industry-leading data."

Catalina Vazquez, proposition director, Tick History, Refinitiv, an LSEG business says "Our partnership with Google Cloud helps financial institutions get to the answers they need faster and more efficiently by combining Google Cloud's machine learning tools with Refinitiv's Tick History data in BigQuery." She further states, "This model changes the paradigm for the financial community, helping them spend less time and money managing data and more time innovating and driving business performance with a competitive edge."

"As the global data landscape continues to evolve, market data publishers need to consider cloud-based models to keep up with the demands of their customers who expect easy, flexible and cost-efficient ways to consume market data," explains Christin Brown, global Financial Services industry technical solutions leader, Google Cloud. "Stakeholders in the ecosystem, including consumers, corporate and investment banks, asset managers, and hedge funds, are increasingly asking data publishers for data delivery via the cloud. Datashare solves this problem by making market data accessible and beneficial to both publishers and consumers."

About Google Cloud
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