Sydney, Australia — 11 October 2022 — Australian Securities Exchange (ASX) has selected Google Cloud as its preferred cloud partner to build its data product innovation strategy. ASX has migrated its data and analytics footprint to Google Cloud, enhancing its capabilities to inform product innovation and extend access to insights for ASX and its local and global customers.
The data difference
DataSphere is ASX's data science and commercialization platform, providing access to data, analytics, and innovation for ASX and its partners. ASX is leveraging Google Cloud’s industry-leading data and analytics technologies, to drive actionable insights from the platform, with scale and security at the core. ASX's deep ecosystem of financial data will provide its partners with access to unique datasets; deeper, machine learning-based insights; end-to-end governance; and tools to build, commercialize, and distribute new financial models to their customers.
“Data is central to our strategy—financial markets depend upon reliable, timely and relevant data,” said Dan Chesterman, group executive, Technology and Data, Chief Information Officer at ASX. “We operate critical infrastructure that underpins both the Australian and New Zealand financial markets, so having access to best-in-class technology is critical. Our collaboration with Google Cloud enables us to make data and insights accessible in a flexible and scalable environment. It will help us bring new products and services to market faster.”
ASX is currently building new products with its debt, equities and futures market data, and investigating opportunities to collaborate on product development with Google Cloud.
ASX’s technology transformation
The migration to Google Cloud, supported by implementation partner Servian, forms part of ASX’s broader business and technology transformation. The exchange is in the process of renewing several core platforms which will see the average age of the core equity market technologies drop from over 20 years to an average of less than five years. Through this modernization, ASX has introduced contemporary technology patterns and is digitizing more parts of its business to deliver an improved customer experience.
“As one of the world’s top-10 listed exchange groups, ASX is transforming how financial markets deliver value by harnessing the power of data,” said Alister Dias, vice president, Google Cloud, Australia and New Zealand. “By partnering with Google Cloud, ASX is fast-tracking its product innovation, by unifying their vast data estate and accelerating insights for all of their partners and truly unlocking the value of data and analytics.”
Sharpening focus on skills and training
To support ASX’s continued investment and effort in securing, developing, and nurturing the best industry talent, Google Cloud and Servian have also delivered customized training and enablement plans for employees to empower them in building the cloud and digital skills required to run DataSphere with Google Cloud technology.
The enablement is continuing with the co-design of a cross-ASX training program that will provide employees with an opportunity to learn and apply the latest technologies to their jobs. The outcome will be a workforce rich in cloud experience and poised to accelerate the exchange’s technology ambitions.
About Google Cloud
Google Cloud accelerates every organization’s ability to digitally transform its business. We deliver enterprise-grade solutions that leverage Google’s cutting-edge technology – all on the cleanest cloud in the industry. Customers in more than 200 countries and territories turn to Google Cloud as their trusted partner to enable growth and solve their most critical business problems.
ASX is one of the world’s leading financial market exchanges. It operates at the heart of the globally attractive, deep and liquid Australian financial markets. As an integrated exchange offering, ASX provides a full suite of services including listings, trading, clearing, settlement, technical and information services, and other post-trade services. It operates markets for a wide range of asset classes including equities, fixed income, commodities and energy. With a proud history as an early and successful adopter of new technology, ASX continues to embrace innovative solutions to make life easier for customers, help companies grow, create value for shareholders and support the Australian economy.
Servian is a leading APAC tech consultant specializing in Digital, Marketing Analytics, Cloud, DevOps, Cybersecurity, Data, Analytics and AI/ML. Servain delivers end-to-end data-driven digital products & services. Our highly skilled team of consultants ensure they focus on solving client objectives through the best use of technology. We build and manage rich user experiences through the smart use of software and data engineering, which creates, and sustains, the competitive advantage for our customers.