Billionaire Ken Griffin’s Citadel Securities has moved the testing of the algorithms that power its millions of trades a day into the cloud to cope with the vast quantities of data thrown up by financial markets.
The Miami-based market maker has switched storage of trading data and running the programmes that simulate price moves out of its own servers and into Google’s cloud computing service, it told the Financial Times.
The shift makes Citadel Securities the latest financial services company to increase its reliance on Big Tech cloud services and is a win for Google as Silicon Valley companies host more business traditionally guarded closely by Wall Street.