The NASDAQ OMX Group, Inc.
31.07.2013 14:30
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Optimizes Surveillance Reliability, Redundancy and Scalability While Lowering
Expenses
NEW YORK, 2013-07-31 14:30 CEST (GLOBE NEWSWIRE) --
Jordan & Jordan (J&J), which provides securities industry domain expertise in
practices such as management consulting and compliance, market data, and other
industry solutions, today announced that their Execution Compliance &
Surveillance (ECS) service is now running on NASDAQ OMX FinQloud, a secure,
cloud computing platform designed exclusively for the financial services sector
and powered by Amazon Web Services (AWS). J&J's ECS is an application used by
broker-dealers to measure the effectiveness of their trading programs and
execution strategies in meeting best execution obligations and rules.
The ECS migration to FinQloud provides J&J the ability to easily expand the
application's analysis capabilities and scale data storage in a cost-efficient
manner without sacrificing speed or reliability. FinQloud will be able to host
J&J's ECS as it manages large volumes of trade and quote data, provides storage
and retrieval of full reports and individual records, and allows read-only
access for inquiries and auditing. The resources required to power the analysis
tools offered through J&J's ECS increase along with transaction volume and
regulatory surveillance requirements. J&J's ECS will use FinQloud to
significantly reduce the costs associated with traditional, dedicated
infrastructure deployment. As a service operated within FinQloud, J&J's ECS
will enable customers to analyze their stored trade data without maintenance
costs associated with daily data transfers.
'Compliance needs are increasing as is the use of cloud services, and this is
an exciting match of needs and solutions,' said Tom Jordan, Chief Executive
Officer of J&J. 'We believe this relationship with FinQloud will allow J&J and
our clients to reach new levels of reliability, redundancy and scalability
while continuing to demonstrate our commitment to ensure regulatory compliance.
In addition, the FinQloud ecosystem provides new opportunities for J&J to
enhance the range of services offered to ECS customers and enables easy access
to our services for other FinQloud customers.'
'We are pleased that J&J decided to use FinQloud to optimize their compliance
offering for broker-dealers. The financial services community is readily
adopting scalable tools which decrease operational expenses, considering
transaction volumes and regulatory requirements,' said Stacie Swanstrom, Head
of Access Services at NASDAQ OMX. 'The ecosystem we are fostering within
FinQloud paves the way for our industry to build, provision, and manage mission
critical applications for the future.'
In February 2013, J&J completed an independent assessment of FinQloud's R3 data
storage solution which confirmed that it provides broker-dealers with a
best-of-breed tool to meet the stringent record keeping requirements of SEC
Rule 17a-4(f) and CFTC Regulation 1.31(b).
About J&J:
Jordan & Jordan provides securities industry domain expertise through three
practices: Management Consulting & Compliance, Market Data, and Industry
Solutions. The Management Consulting division focuses on strategic endeavors as
well as the business and operational impacts of organizational, technology, or
regulatory changes. The Compliance practice provides Software as a Service to
assess regulatory compliance and performs assessments of compliance with
ever-changing regulations. The Market Data practice specializes in the
commercial aspects of market data. Through the Industry Solutions practice,
Jordan & Jordan manages the FIF (Financial Information Forum), FPL (FIX
Protocol Limited) and RIXML (Research Information Exchange Markup Language).
The Company is headquartered in New York with offices in Chicago and London.
Our clients include buy and sell-side firms, information vendors, industry
associations, as well as international stock and futures exchanges. To learn
more about J&J and ECS, visit www.jandj.com/ecs/ or email
michael.oconor@jandj.com.
About 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 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.
NDAQG
CONTACT: ECS Contact:
Michael O'Conor
+1 (212) 655-2953
Michael.Oconor@jandj.com
Kathy McGovern
kathy.mcgovern@jandj.com
NASDAQ OMX Media Contact:
Robert Madden
+1 (646) 441-5045 (office)
+1 (347) 740-0191 (mobile)
Robert.Madden@NASDAQOMX.com
News Source: NASDAQ OMX
31.07.2013 Dissemination of a Corporate News, transmitted by DGAP -
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Language: English
Company: The NASDAQ OMX Group, Inc.
United States
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ISIN: US6311031081
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End of Announcement DGAP News-Service
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DGAP-News: Jordan & Jordan Chooses NASDAQ OMX FinQloud to Host Their Execution Compliance & Surveillance Service
| Source: EQS Group AG