New service running on AWS enhances user experience and reduces operational costs by eliminating manual configuration and maintenance
NEW YORK & LONDON, May 18, 2023 /PRNewswire/ -- KX, creator of kdb+, the industry's trusted time series and analytics database, today announces a new collaboration with Amazon Web Services (AWS) to make kdb Insights available as a fully managed service on Amazon FinSpace. Managed kdb Insights enables investment banks and hedge funds to launch, configure, run, and scale the most important capital markets analytics and AI workloads, such as options pricing, transaction cost analysis, and back-testing, with just a few clicks. Firms already using applications that rely on kdb Insights can easily migrate them to AWS in days-instead of the months it takes when running the applications on-premises-without modifying their queries or workflows. They will also be able to continue deploying the applications and data with the added agility, scalability, high availability, and security of AWS.
Capital markets participants rely on running high-performance queries on real-time market data, petabytes of historical data, and data from hundreds of sources to gain a competitive advantage. These queries are used for critical operations such as transaction cost analysis, options pricing, market simulation, and risk calculations. Financial services firms have been seeking a more efficient way to deploy and run kdb Insights to enable them to scale with market volatility and business needs, ensure availability during critical market trading hours, and reduce the work required to operate these critical workloads.
Using Amazon FinSpace with Managed kdb Insights, financial institutions can democratize their most performant kdb analytics workloads, and extend their reach across front, middle, and back offices by readily incorporating and accelerating Python and SQL codebases. These changes provide an improved user experience and a seamless integration with other AWS services, while significantly reducing the operational costs of running kdb Insights by eliminating manual configuration, operations, and maintenance. Firms no longer have to worry about managing the underlying infrastructure that powers their analytics workloads. With kdb Insights running on the AWS cloud, investment banks and hedge funds can avoid large upfront infrastructure purchases with pay-as-you-go kdb compute and storage. The automatic scaling and built-in high availability ensure that kdb applications keep up with volatile market conditions and meet requests for new analytics capabilities from business teams in hours instead of months.
Leading investment banks and asset managers have been testing Amazon FinSpace with Managed kdb Insights and providing feedback to ensure the offering meets their broad set of use cases. Deploying kdb Insights on Amazon FinSpace will reduce the operational overhead and provide greater scalability and agility when delivering kdb applications for their businesses.
"With Amazon FinSpace with Managed kdb Insights, financial institutions can now set up full scale kdb applications for market data processing and analytics in just a few clicks," said Saman Michael Far, VP of Financial Services Technology at AWS. "We see this as a turning point for our capital markets customers, where moving the core of their market data analytics to the cloud will ensure their most critical analytics are available when needed and provide them with a virtually unlimited ability to experiment with their analysis and gain insights."
KX CEO Ashok Reddy said, "KX is trusted by the world's top banks and hedge funds to manage billions of transactions and trillions of dollars every day. With the launch of kdb Insights on Amazon FinSpace, our customers can experience unparalleled levels of price versus performance thanks to the market-leading capabilities of our Data Timehouse technology and the powerhouse that is AWS."
To start using Amazon FinSpace with Managed kdb Insights, visit https://kx.com/partners/aws and for more information on the launch read https://aws.amazon.com/blogs/industries/introducing-amazon-finspace-with-managed-kdb-insights/.
Our mission is to accelerate the speed of data and AI-driven business innovation enabling customers to transform into real-time, intelligent enterprises. Built for the most demanding data environments, our Data Timehouse platform is trusted by the world's top investment banks and hedge funds, and leading companies in the life and health sciences, semiconductor, telecommunications, and manufacturing industries.
At the heart of our technology is the kdb time series database and analytics engine, independently benchmarked as the fastest on the market. It can process and analyze time series and historical data at unmatched speed and scale, empowering developers, data scientists, and data engineers to build high-performance data-driven applications and turbo-charge their favorite analytics tools in the cloud, on-premise, or at the edge.
Ultimately, our technology enables the discovery of richer, actionable insights for faster decision making which drives competitive advantage and transformative growth for our customers.
KX operates from more than 15 offices across North America, Europe and Asia Pacific. For more information visit www.kx.com or contact: firstname.lastname@example.org