European stock exchange operator Deutsche Börse has joined forces with Google Cloud to improve and streamline its cloud adoption.
In this connection, Deutsche Börse has selected Google Cloud as its preferred partner for cloud consumption for the next ten years.
Through the partnership, the exchange organisation will be able to utilise Google Cloud’s secure infrastructure and capabilities in data and analytics to expedite the development of its D7 digital securities platform.
Besides, the stock exchange group will improve its data distribution and use cases in the cloud and innovate its digital asset market operations, said Google Cloud.
Deutsche Börse CEO Theodor Weimer said: “To trailblaze changing market environments, and not only meet but also anticipate customer demand, it is key to couple our financial services expertise with the technological prowess of a true market heavyweight.
“Our deep market infrastructure understanding, coupled with Google Cloud’s technology expertise and scale, will drive tangible success for our business and broader financial markets.”
Deutsche Börse’s D7 platform is said to showcase a new model for handling the end-to-end processing of digital securities linked to existing legacy environments.
It will also enable interoperability with new environments based on distributed ledger technology.
The new platform will allow Deutsche Börse to provide its clients and the broader financial industry with new applications, products, and digital securities services.
The parties also expect to jointly invest in robust regulatory controls and built-in security mechanisms to meet applicable regulatory requirements.
Google Cloud CEO Thomas Kurian said: “Exchanges sit at the epicentre of the financial ecosystem and have an increasingly important role to play to drive the future of market innovation and efficiencies.
“Our partnership with Deutsche Börse Group underscores the wide range of opportunities and benefits that secure and reliable cloud technology, data analytics, and AI can create for market participants.”
To support multiple cloud-based data distribution and use cases for the Deutsche Börse Group, the two firms intend to jointly deploy a data mesh.
The partnership also aims to innovate the digital asset business of Deutsche Börse Group with an institutional-grade offering. It will involve developing a cloud-native Digital Assets Business Platform that combines centralised and decentralised financial infrastructure to deliver crypto spot and derivatives products.
