CloudQuotation Lowers Technical Threshold for Accessing Real-Time Market Quotes
Alibaba Cloud Apr 21, 2021
Hong Kong, April 21, 2021 - Alibaba Cloud, the digital technology and intelligence backbone of Alibaba Group, today announced the launch of CloudQuotation, a one-stop cloud-based solution that helps financial institutions, Internet information providers and FinTech companies access real-time market quotes without additional technological set up.
CloudQuotation obtains stock, futures, derivatives and index trading data directly from stock exchanges through dedicated lines. It currently covers the US and Hong Kong markets leveraging Alibaba Cloud’s global network.
Unlike traditional quote systems which require a high-level of technical capability to use, CloudQuotation is an innovative plug-and-play solution that not only lowers the technical threshold for brokerages, banks, private equity firms, trusts and other enterprises to consolidate market quotes, but also saves significant time and costs for the companies using these services.
In Hong Kong, Alibaba Cloud will provide global service sharing of real-time market intelligence from trading activity on Hong Kong Exchanges & Clearing Ltd. (HKEX).
“Enterprises typically obtain market quotes either by applying for real-time feed licenses from bourses, purchasing information from third-party vendors or receiving the intelligence through a tailor-made gateway. All of these require enterprises to have a high level of technical capability as well as incur significant upfront investment and maintenance costs. We launched CloudQuotation to provide customers with one-stop customized quote services,” said Leo Liu, General Manager of Hong Kong, Macau and Philippines, Alibaba Cloud Intelligence.
“Alibaba Cloud is committed to providing the technology and solutions needed to support financial institutions in speeding up their digital transformations as well as swiftly responding to consumer demands in the digital era,” Liu added. “We are confident that CloudQuotation will be beneficial to financial clients looking to optimize the cost effectiveness of their global asset allocations and enhance the quality of their digital services.”
Winnie Poon, HKEX Head of Market Data, said, “As the global market leader in the Asian time zone, HKEX looks forward to working with different service providers to develop innovative solutions, offering timely and useful data products and services of the Hong Kong market to global investors.”
Leveraging Alibaba Cloud’s robust cloud computing capabilities, CloudQuotation is able to process over 1.5 billion index data records per trading session. It also provides enterprises of all sizes with tens of millions of market quotes per second with low latency and high elasticity.
Alibaba Cloud’s global network ensures the stability of its market quote services through a multi-zone architecture that enables efficient remote disaster recovery. In addition, security measures such as authentication, encryption and cluster security management, provide a reliable environment for financial enterprises to process market quotes.
CloudQuotation has already been adopted by several financial institutions in Hong Kong, including Yunfeng Financial Group and China Industrial Securities International Financial Group. The product has three versions: Basic, Standard and Premium. Leveraging private cloud, public cloud and hybrid cloud models, CloudQuotation is able to satisfy a wide range of needs in the market.
For more information about CloudQuotation, please visit Alibaba Cloud’s official website
About Alibaba Cloud
Established in 2009, Alibaba Cloud (alibabacloud.com), the digital technology and intelligence backbone of Alibaba Group. It offers a complete suite of cloud services to customers worldwide, including elastic computing, database, storage, network virtualization services, large-scale computing, security, management and application services, data analytics, a machine learning platform and IoT services. Alibaba Cloud is China’s leading provider of public cloud services by revenue in 2019, including PaaS and IaaS services, according to IDC. Alibaba Group is the world’s third leading and Asia Pacific’s leading IaaS provider by revenue in 2019 in U.S. dollars, according to Gartner’s April 2020 report.