Google Cloud unveils Datashare; makes market data sharing more secure and easy

By Pavithra R

Google Cloud has announced the launch of Datashare for financial services, a new solution designed to empower the entire capital markets ecosystem including market data publishers like exchanges and other providers, and data consumers, like investment banks, asset managers, and hedge funds, to share market data more securely and easily.

“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. 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,” said David Easthope, senior analyst, Coalition Greenwich.

Datashare is built on Google Cloud analytics services like BigQuery and will leverage Analytics Hub. The new solution addresses both market data publisher and data consumer needs by organizing third-party data and making it more accessible and useful. With Datashare, data publishers can onboard their licensed datasets to Google Cloud securely while data consumers can access that data in tools like BigQuery.

Features of Datashare include:

• Batch data delivery: Datashare provides a batch data delivery mechanism for reference, historical tick, and alternative market data sources via BigQuery cloud-based delivery, reducing the administrative burden on data consumers to extract insights.
• Real-time data streaming: By using this event-based data delivery channel for rapidly changing instrument prices, tick data, orders, news and others via Pub/Sub, data consumers can reliably process individual messages or rewind to a point in time to replay a prior market scenario and test model changes.
• Data monetization: Market data publishers can onboard their licensed datasets to Google Cloud, and make them available via Google Cloud Marketplace, providing new sales channels and expanding their customer reach.

To bring Datashare to life for the industry and connect more sources to potential customers, Google Cloud is working with multiple data publishers. Datashare publishers currently signed onto the solution include OneTick and Accern.

“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. 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,” said Christin Brown, global Financial Services industry technical solutions leader, Google Cloud.