- Snowflake will help transform Cboe's internal data and
analytics infrastructure into a modern cloud architecture
- Provides more scalable and efficient platform for centralizing,
integrating, and analyzing Cboe's proprietary data
- Enhances operational performance and capabilities to enable
rapid analytics both internally and for customers
- Furthers Cboe's effort to move toward more cloud-based
solutions
CHICAGO, July 28,
2022 /PRNewswire/ -- Cboe Global Markets, Inc. (Cboe:
CBOE), a leading provider of global market infrastructure and
tradable products, today announced it is leveraging Snowflake, the
Data Cloud company, to migrate its corporate data and analytics
from on-premises systems to the cloud. The adoption of Snowflake's
Data Cloud will help transform Cboe's data and analytics
infrastructure into a modern cloud architecture, bringing speed,
scalability, and efficiency to the company's handling of its
internal, proprietary data and analytics.
![(PRNewsfoto/Cboe Global Markets, Inc.) (PRNewsfoto/Cboe Global Markets, Inc.)](https://mma.prnewswire.com/media/622233/Cboe_Logo.jpg)
The flexible and highly scalable Snowflake Data Cloud platform,
which can operate across different infrastructure cloud
providers and regions as a single cloud, will help enable Cboe to
employ additional tools to its existing data sets, expanding the
way it aggregates and mines its data. Ultimately, this is expected
to improve Cboe's capabilities in the ways it can analyze data, and
derive rapid analytics to provide intelligence both internally and
for customers.
"Cboe will leverage Snowflake to accelerate our cloud migration
journey and modernize how we manage and utilize our proprietary
corporate data and analytics for our benefit and that of our
customers," said Eileen Smith,
Senior Vice President, Data and Analytics, Cboe Global Markets.
"Snowflake offers a highly flexible and scalable Data Cloud
platform that will enable our teams to handle increasing amounts of
data with greater speed and efficiency, improving our capabilities
for managing, mining, and analyzing that data internally across our
global business and sharing those insights with our customers. We
look forward to the many expected benefits that Snowflake will
provide."
Cboe also plans to utilize Snowflake as a security data lake to
unify data for efficient detection and response and other
cybersecurity use cases. Additionally, the migration to
Snowflake's Data Cloud creates the opportunity for Cboe to
potentially create new data products and services, while expanding
data access for market participants through Snowflake's cloud
capabilities and unique distribution channels, such as Snowflake's
Secure Data Sharing.
"The successful financial services companies of tomorrow know
that they need to provide a seamless data experience," said Rinesh
Patel, Global Industry GTM Lead, Financial Services, Snowflake.
"The work Cboe is doing to modernize their data and analytics
infrastructure and deliver faster, better insights to their
internal teams and clients is a model for how the financial
services industry must modernize, deliver on a more
customer-centric model of operation and take advantage of the data
monetization opportunities that exist in financial services."
Cboe continues to move toward more cloud-based solutions and the
engagement with Snowflake is part of its ongoing global cloud
strategy.
In November 2021, in a separate
initiative, Cboe launched Cboe Global Cloud, a new real-time,
cloud-based market data streaming service that aims to optimize the
efficiency and delivery of Cboe's data services for market
participants globally. Cboe Global Cloud is designed to enable
customers to directly access real-time Cboe data from multiple
locations around the world with as little as an internet
connection. In addition, Cboe Global Cloud helps bring Cboe's wide
array of real-time data products together onto a unified platform,
providing customers a simple and efficient way to receive a variety
of real-time data via a single access point. For more
information, visit the Cboe Global Cloud website.
About Cboe Global Markets, Inc
Cboe Global Markets (Cboe: CBOE), a leading provider of market
infrastructure and tradable products, delivers cutting-edge
trading, clearing and investment solutions to market participants
around the world. The company is committed to operating a trusted,
inclusive global marketplace, providing leading products,
technology and data solutions that enable participants to define a
sustainable financial future. Cboe provides trading solutions and
products in multiple asset classes, including equities, derivatives
and FX, across North America,
Europe and Asia Pacific. To learn more, visit
www.cboe.com.
Media
Contacts
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Analyst
Contact
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Angela
Tu
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Tim
Cave
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Kenneth Hill,
CFA
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+1-646-856-8734
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+44 (0)
7593-506-719
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1-312-786-7559
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atu@cboecom
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tcave@cboecom
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khill@cboecom
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CBOE-C
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SOURCE Cboe Global Markets, Inc.