Euromoney TRADEDATA has moved its futures and options data to the cloud following an 18-month project aimed at offering faster and tailored access.

Euromoney TRADEDATA confirmed the launch of its cloud-based platform, TRADEDATA Central, at FIA Expo in Chicago last week.

The platform provides faster access to up-to-date futures and options datasets while leveraging benefits of cloud computing such as allowing easy setup and integration with third-party applications.

It also offers a lower cost alternative to maintaining large in-house data stores for small to medium firms.

“With the release of TRADEDATA Central we open up our extensive data library of hundreds of attributes to the global futures and options community, enabling the selection of data items that exactly meet the need as well as the universe of coverage, whether that be at a market, region, asset class or individual product level,” Euromoney TRADEDATA’s business development director, Gregg Whitbread, said in a statement.

Additionally, TRADEDATA Central provides real-time data transformation for trading system interoperability, and can be used as a validation or failover data source to increase business resilience.

Other features include integrated desktop, online and search workflow tools, and easy integration with trade life-cycle workflows, including regulatory compliance.

Mark Woolfenden, managing director of Euromoney TRADEDATA, said: “Cloud computing perfectly matches our industry role as a data vendor; we can scale costs in line with business growth and intelligently manage the significant increase in data assets we are planning and mitigate what was the constant challenge of rightsizing physical server capacity." 

This comes as market infrastructures are evaluating opportunities to expand the use of the cloud more broadly across external services and applications where most appropriate, according to an expert.