KX announces that it has received the 2018 Google Cloud Global Technology Partner of the Year for Financial Services award. The award was presented today by Google Cloud, at Google Cloud Next ‘19 in San Francisco.
KX was recognized for the company’s achievements in the Google Cloud ecosystem, helping joint financial services customers involved in high-performance capital markets trading activities to scale resources quickly for burst processing and for modelling and backtesting purposes. In the financial services industry, where the procurement process for acquiring new hardware can take six to nine months, having the ability to quickly access kdb+ on GCP to perform essential time-sensitive analytics, and then spin those resources down when not needed, provides significant cost and efficiency benefits.
For KX and Google Cloud joint customers, strong results in the independently audited 2018 Securities Trading Analysis Center (STAC) financial trading benchmarks validated the business value of migrating many of their kdb+ applications to GCP. Using cloud instances for the first time, the real world STAC-M3 tests run on very large trading datasets. The tests proved that KX’s kdb+ time-series database, running on GCP, was able to match or exceed the speed of the same complex calculations as measured against previous tests using “bare metal,” a critical requirement for financial institutions.
Glenn Wright, Senior Systems Architect at KX said: “Offering our software on the GCP Marketplace provides several benefits to our customers. Our trading customers use kdb+ because they demand high performance and extremely fast speeds to maintain their competitive edge in market data analytics. That’s why the excellent results achieved in the STAC-M3 benchmarks on GCP in 2018 are so important to us. They prove the viability of running significant time-series based kdb+ applications in the cloud.”
“We’re delighted to recognize Kx as the 2018 Google Cloud Global Technology Partner for Financial Services for their innovative work on behalf of Google Cloud customers over the past year,” said Kevin Ichhpurani, Corporate Vice President, Global Partner Ecosystem at Google Cloud. “Our ecosystem of partners is driving tremendous innovation, and KX’s solutions in financial trading and research are a great example. We’re proud to provide this award to KX and look forward to continue building together.”
KX is a division of First Derivatives (FDP.L), a global technology provider with 20 years of experience working with some of the world’s largest finance, technology, retail, pharma, manufacturing and energy institutions. KX technology, incorporating the kdb+ time-series database, is a leader in high-performance, in-memory computing, streaming analytics and operational intelligence. KX delivers the best possible performance and flexibility for high-volume, data-intensive analytics and applications across multiple industries. The Group operates from 14 offices across Europe, North America and Asia Pacific, including its headquarters in Newry, and employs more than 2,400 people worldwide.