NEW YORK, July 31, 2013 (GLOBE NEWSWIRE) -- Jordan & Jordan (J&J), which provides securities industry domain expertise in practices such as management consulting and compliance, market data, and other industry solutions, today announced that their Execution Compliance & Surveillance (ECS) service is now running on NASDAQ OMX FinQloud, a secure, cloud computing platform designed exclusively for the financial services sector and powered by Amazon Web Services (AWS). J&J's ECS is an application used by broker-dealers to measure the effectiveness of their trading programs and execution strategies in meeting best execution obligations and rules.
The ECS migration to FinQloud provides J&J the ability to easily expand the application's analysis capabilities and scale data storage in a cost-efficient manner without sacrificing speed or reliability. FinQloud will be able to host J&J's ECS as it manages large volumes of trade and quote data, provides storage and retrieval of full reports and individual records, and allows read-only access for inquiries and auditing. The resources required to power the analysis tools offered through J&J's ECS increase along with transaction volume and regulatory surveillance requirements. J&J's ECS will use FinQloud to significantly reduce the costs associated with traditional, dedicated infrastructure deployment. As a service operated within FinQloud, J&J's ECS will enable customers to analyze their stored trade data without maintenance costs associated with daily data transfers.
"Compliance needs are increasing as is the use of cloud services, and this is an exciting match of needs and solutions," said Tom Jordan, Chief Executive Officer of J&J. "We believe this relationship with FinQloud will allow J&J and our clients to reach new levels of reliability, redundancy and scalability while continuing to demonstrate our commitment to ensure regulatory compliance. In addition, the FinQloud ecosystem provides new opportunities for J&J to enhance the range of services offered to ECS customers and enables easy access to our services for other FinQloud customers."