The cloud computing giants are vying to protect their fat profits

When chief executives ring the closing bell at the Nasdaq stock exchange in New York, it is usually because their firm has just gone public. When Adam Selipsky did so on June 27th, he was celebrating a tie-up with the bourse. He is the boss of Amazon Web Services (aws), the tech giant’s cloud-computing arm, and the deal is part of the exchange’s shift of its stockmarkets to aws’s cloud. Tailored features include data transfer with minimal delay to please high-frequency traders. Nasdaq’s customers will be able to use aws’s advanced analytics tools, such as machine learning (ml), through the stock exchange’s platform.

The deal, first announced in November, came weeks after Alphabet, Google’s parent company, unveiled a similar tie-up between gcp, its cloud offering, and cme, one of the world’s biggest derivatives exchanges. A day before that deal was struck Microsoft Azure announced the rollout of its financial-services cloud. Clients include Morgan Stanley and hsbc,…

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