The 2023 Google Cloud Customer of the Year Award for the Financial Services Industry has been won by OrBit Markets, a Singapore-based institutional liquidity provider in the world of digital asset options and structured derivatives. The honour is more than only decorative; it denotes the company’s ability to successfully negotiate the complex requirements of high-volume trade data, strict security standards, and adherence to financial regulations using Google Cloud technologies.
Trading in digital asset derivatives calls for a balance of cutting-edge technology and strong security measures. This requires OrBit Markets to process enormous amounts of trading data using machine learning algorithms, in addition to the rigorous computational work of daily executing billions of risk-assessment simulations. This adds weight to the Google Cloud Prize because it is difficult to accomplish at scale.
OrBit was assisted in overcoming these obstacles by the Google Cloud suite, which is complete with high-capacity storage options, serverless architecture, and sophisticated access management mechanisms. The goal of the Customer Awards, according to Brian Hall, VP of Product and Industry Marketing at Google Cloud, is to “recognise innovative, technically advanced, and transformative cloud deployments across various global industries.” Business effect, innovation, and architectural intricacy are some of the requirements for awards. These benchmarks have been met by OrBit Markets, demonstrating the powerful applications of Google Cloud’s capabilities in the financial services industry.
Tianjiao Sun, the company’s CTO, revealed that OrBit’s trading volumes have increased by “several orders of magnitude” over the past year and credited Google Cloud’s infrastructure for this scalability. Although corporate narratives frequently use growth measures, the quantitative scaling in a highly volatile market setting like the trade of digital assets is significant.
Another area where OrBit Markets excels is regulatory standard compliance. The Google Cloud award recognises the difficult task of using disruptive technology while navigating the compliance landscape.