Increases Its Capabilities for Protecting American Investors, While Containing Platform Costs and Increasing Operational Efficiency
PALO ALTO, Calif., – March 24, 2015 – Cloudera, the leader in enterprise analytic data management powered by Apache Hadoop™, today announced that the Financial Industry Regulatory Authority (FINRA), an independent regulator overseen by the Securities and Exchange Commission, has deployed Cloudera Enterprise as a key component of its regulatory platform that will keep pace with increasing requirements for dynamic monitoring of financial markets while scaling for future market growth. Thanks to reduced platform costs and increased operational efficiency provided by Cloudera and other Big Data technologies, FINRA Technology can focus on improving systems to provide greater flexibility and effectiveness for regulatory analysts.
Every day, FINRA integrates data feeds from over 4,000 security firms and numerous market exchanges to find evidence of market manipulation. The organization has implemented Cloudera as the platform to progressively build a graph database based on up to 50 billion daily market events, while also providing ad hoc access to that data for analysts.
With the constant evolution of the U.S. market, FINRA management is continually evaluating new technologies to accommodate dynamic market volumes and empower FINRA to design and deploy cutting edge surveillance programs to detect and deter emerging market-manipulation strategies. In response to the newest generation of Big Data technologies, the organization was tasked with finding a solution that could increase the scope of analytics for end users and significantly reduce technology expenditures – all while providing continuous diagnostic monitoring.
“We wanted a fast and reliable solution that we knew could grow and scale with our needs,” said Saman Michael Far, senior vice president of Technology at FINRA. “We chose Hadoop because it provides a horizontally scalable open-source solution. We selected Cloudera for the market event graph database, because they provide a proven enterprise-caliber solution, they have the expertise to help solve some of our unique challenges, and because their management tools provided a critical level of administrative automation for our clusters.”
A Hadoop architecture allows FINRA to take advantage of the elasticity available through a public cloud infrastructure, in this case provided by Amazon Web Services (AWS). FINRA can now avoid over-provisioning and can more easily handle peak workloads while benefiting from operational economies of scale.
“The new generation of technology allows us to move beyond the limitations of hardware data appliances, which include capacity constraints, a vertical scaling model, and expensive support contracts,” said Steve Randich, executive vice president and chief information officer of FINRA. “With our implementation of Big Data and cloud technologies including Cloudera Enterprise, we’re reducing query response times from hours to seconds, and ensuring our platforms will scale to handle market demands.”
“For a regulatory authority like FINRA, it is vital that technology deployments not only handle the growth of U.S. financial markets, but also provide fast, reliable analytics in order to protect investors,” said Steve Totman, big data technology evangelist and financial services subject matter expert at Cloudera. “By implementing Cloudera Enterprise as part of its broad Big Data initiative, FINRA is able to support its mission of investor protection and market integrity by increasing performance, accelerating innovation, and preparing for future market growth.”
To learn more, view the success story: cloudera.com/content/cloudera/en/our-customers/finra.html
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