Cloud Computing and Finance, Market Research at the TeraScale with QuantQuote

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How the QuantQuote Cloud levels the playing field.

In today’s financial markets, more so than at any time in the past, data is paramount. Data quality and comprehensiveness can easily translate into undeniable advantages in today’s hyper-competitive financial markets. Every day, billions of quotes and trades occur on exchanges around the country and around the world, posing an unprecedented computational challenge. In the face of every increasing market data volume, storage facilities capable of holding hundreds of terabytes are now required to save and analyze market data. The hardware costs and specialized system administration expertise required to maintain these systems can easily run into hundreds of thousands of dollars a year, putting high resolution data beyond the reach of all but the largest institutions. The end result has been a highly unfair marketplace where smaller traders and firms have been placed at the mercy of large hedge funds and banks.

On September 1st, 2012, QuantQuote launched the QuantCloud service in response to this troubling trend. QuantQuote seeks to level the playing field by drastically reducing hardware and system administration costs by creating a shared cloud-based platform for market research. “In many ways, cloud computing is perfectly suited for finance”, says Jerry Goldberg, Director of Sales at QuantQuote, “in addition to being able to share costs among numerous users, there are many economies of scale that appear when you build one large computing cluster versus a dozen medium sized clusters.” QuantCloud will operate on a subscription pricing model where each user is given a memory, CPU, disk I/O, and bandwidth allocation. In times of low load, QuantCloud’s sophisticated load balancing systems will dynamically increase the resources allocated to active users to allow maximum utilization of resources at all times. By using QuantQuote owned and maintained hardware with costs split amongst multiple users, individual costs are greatly reduced.

"We estimate yearly cost savings of $50,000-$100,000 for most users" says Kevin Lu, chief System Architect at QuantQuote, "most of that from eliminating the need for a full time system administrator and savings from sharing colocation and bandwidth costs. The pilot program run over the past year with a half dozen trial users has been a resounding success." In addition, QuantCloud users will have access to the full range of QuantQuote software tools such as the highly acclaimed TickMAP and QuantEDGE libraries. The availability of these tools will make data processing much easier and save customers months of work. "QuantCloud is an ambitious undertaking", says Jerry Goldberg, "but we are confident the undeniable advantages it provides with pave the way to success. It is really a disruptive innovation that will revolutionize the financial data marketplace in the long run.”

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Jerry Goldberg
(646) 400-0072
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