Nasdaq is re-evaluating a venture based on Amazon’s cloud computing services after their partnership to offer back-office data storage to banks and brokers failed to gain traction with customers.
The exchange operator is now restructuring the service, known as FinQloud, following the departure of top executives and others associated with the project, people familiar with Nasdaq’s thinking said.
The options for FinQloud now include a sale, shutting it down entirely or – most likely – a renegotiation of the agreement with Amazon. That could see Nasdaq extend its current arrangement or invest further in the unit, one person close to the company said.
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