Cloud Adoption Update for Financial Market Infrastructure Providers 2H25

Latency Improvement

LSEG achieved a 6x latency improvement at median latency point for PriceStream's matching engine on AWS.

Data Ingestion

10 billion quotes

Boerse Stuttgart's data platform ingests up to 10 billion quotes a day after migrating to AWS.

Cost Savings

$3.5 million

BMLL saves $3.5 million a year in storage costs by using AWS S3 Intelligent-Tiering.

§ 01 Executive Snapshot

What: Financial Market Infrastructure Providers are accelerating the migration of critical workloads to AWS in the second half of 2025.
Who: Key players include London Stock Exchange Group (LSEG), Nasdaq, Japan Exchange Group (JPX), Boerse Stuttgart, and The Options Clearing Corporation (OCC).
Why it matters: This trend signifies a major shift towards cloud-based solutions in the financial sector, enhancing efficiency, resiliency, and the adoption of AI technologies.

LSEG discussed using AWS bmsfe-2 Outposts to enhance FX trading infrastructure for PriceStream, achieving over 2x faster performance.
Nasdaq reported on its disaster recovery strategy for trading systems on AWS, utilizing a multi-site, active/active deployment model.
JPX is conducting a Proof of Concept for its matching engine on AWS, aiming to test the performance of its cash equity trading system.
LCH migrated core clearing and settlement workloads to AWS, meeting the Bank of England’s resiliency mandate for independent operations during outages.
Boerse Stuttgart moved three Oracle databases to Amazon RDS for Oracle, ingesting up to 10 billion quotes a day and increasing platform performance by 15%.

The financial sector's shift to cloud services reflects a broader trend in leveraging technology for operational efficiency and innovation in trading and post-trade systems.
The integration of GenAI and agentic AI into financial operations highlights the industry's commitment to harnessing advanced technologies for improved data handling and operational capabilities.

Immediate implications include heightened competition among FMIs to adopt cloud solutions, which may lead to improved service offerings and operational resilience.
Long-term implications involve a potential transformation of financial services, with increased reliance on AI for efficiency, data analytics, and customer interaction improvements.

Potential regulatory challenges may arise as FMIs migrate sensitive workloads to the cloud, necessitating compliance with stringent data protection standards.
Dependence on cloud service providers introduces risks related to service outages, data security, and performance reliability that could impact trading operations.

The upcoming rollout of additional AWS features and services at re:Invent 2026 may provide further insights into the evolving capabilities available for FMIs.
The performance results from JPX's Proof of Concept on AWS will signal the effectiveness of cloud solutions for critical trading infrastructure.

§ 07

What are Financial Market Infrastructure Providers doing in the second half of 2025?

They are accelerating the migration of critical workloads to AWS.

Who are some key players in this cloud adoption trend?

Key players include London Stock Exchange Group, Nasdaq, Japan Exchange Group, Boerse Stuttgart, and The Options Clearing Corporation.

Why is the shift to cloud-based solutions important for the financial sector?

It enhances efficiency, resiliency, and the adoption of AI technologies.

What risks do Financial Market Infrastructure Providers face when migrating to the cloud?

They may encounter regulatory challenges, service outages, data security issues, and performance reliability concerns.