Google Cloud today announced Datashare for financial services, a new solution designed to empower the entire capital markets ecosystem—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.

Datashare is built on Google Cloud analytics services like BigQuery and will leverage Analytics Hub.

The proliferation of traditional and alternative data sources in financial services has created a need for a more streamlined solution for sharing information quickly and securely. Investment banks, asset managers, and other data consumers are demanding more choice in how they receive their licensed data, and they also need tools that allow them to be nimble with that data – without having to invest in costly, on-premises computing infrastructure.

At the same time, data publishers, like exchanges and aggregators, are struggling to meet growing customer demand, and need to deliver their data with more ease and flexibility.

Features of Datashare include:

• Batch data delivery: This mechanism helps publishers deliver their reference data, historical tick data, alternative market data sources, and more via BigQuery, 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.

This launch also builds on Google Cloud’s recent momentum in working with exchanges and market data aggregators to make it easier to access and share their data with investment banks, asset managers, hedge funds, and other data consumers. These recent partnerships include CME Group, which offers its real-time market data via Google Cloud, and Refinitiv, a London Stock Exchange Group (LSEG) business that offers its tick history data on Google Cloud.