Digital Asset Liquidity Provider OrBit Markets Wins Google Cloud Customer Award
Rebeca Moen Aug 29, 2023 09:00
OrBit Markets, a Singapore-based liquidity provider, has been awarded the 2023 Google Cloud Customer of the Year Award for its exceptional use of Google Cloud technologies for trading data processing.
OrBit Markets, a Singapore-based institutional liquidity provider in the realm of digital asset options and structured derivatives, has garnered the 2023 Google Cloud Customer of the Year Award for the Financial Services Industry. The accolade is not merely ornamental; it signals the company's proficiency in utilizing Google Cloud technologies to navigate the labyrinthine requirements of high-volume trading data, stringent security protocols, and compliance with financial regulations.
Digital asset derivatives trading is a sector that demands a blend of cutting-edge technology and robust security measures. For OrBit Markets, this entails the processing of massive amounts of trading data through machine learning algorithms, coupled with the computational rigor of running billions of risk-assessment simulations daily. Achieving this at scale is non-trivial and lends weight to the Google Cloud award.
Google Cloud's suite, replete with high-capacity storage solutions, serverless architecture, and advanced access management systems, facilitated OrBit in meeting these challenges. According to Brian Hall, VP of Product and Industry Marketing at Google Cloud, the Customer Awards aim to "recognize innovative, technically advanced, and transformative cloud deployments across various global industries." The award criteria include factors such as business impact, originality, and architectural complexity. OrBit Markets has met these metrics, illustrating the potent applications of Google Cloud's capabilities within the financial services sector.
The company's CTO, Tianjiao Sun, disclosed that OrBit's trading volumes have surged by "several orders of magnitude" within the past year, attributing this scalability to Google Cloud's infrastructure. While growth metrics are commonplace in corporate narratives, the quantitative scaling in a volatile market environment like digital asset trading is noteworthy.
Compliance with regulatory standards is another facet where OrBit Markets has scored. Navigating the compliance landscape while leveraging disruptive technologies is no mean feat, and the Google Cloud award acknowledges this balancing act.
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