Kenshō builds first analytics platform on Nasdaq OMX FinQloud
Kenshō will become the first financial analytics firm on Nasdaq OMX FinQloud
Start-up financial analysis company Kenshō is planning to become the first professional analytics platform built completely on Nasdaq OMX’s FinQloud cloud computing platform, which is powered by Amazon Web Services.
Created earlier in 2013, Kenshō has just launched its first professional product on 1 November 2013. The company plans to help clients compute massive data sets in real time so that they can make better investment decisions.
Using Kenshō’s tools, clients can stress-test portfolios, explore and test investment ideas, and discover persistent pricing anomalies without relying on complex statistical modelling languages or expensive quantitative finance resources. Kenshō currently has 3,000 users running its pre-beta tools, including staff at bulge-bracket banks and buy-side firms.
The advantage of FinQloud is that it is cheaper than building a proprietary computing platform and can be scaled up or down quickly on a ‘pay as you go’ basis, without any need to invest in people or equipment. Running on FinQloud, Kenshō says it can bring supercomputing to small and large firms alike. Effectively, Kenshō is selling its use of the platform on the basis that it will help more firms to benefit from capabilities that were previously available to only a few banks and hedge funds.
“Consumer technology companies have put enormous power in the hands of all of us, and we at Kenshō believe it’s time to bring that power to the financial workplace,” said Daniel Nadler, co-founder and chief executive at Kenshō. “Kenshō’s statistical computing and financial risk analysis applications are providing the next generation terminal in the cloud. We are thrilled to explore this strategic partnership with Nasdaq OMX FinQloud and to leverage their leadership position in global markets.”
