Financial markets data provider Refinitiv Ltd. said today it’s making its Tick History dataset available on the Google Cloud Platform.

It’s a significant move because it means customers will be able to query and analyze the extensive Refinitiv dataset using Google’s BigQuery service.

Refinitiv’s Tick History dataset is comprised of historical tick data that’s drawn from real-time content. The dataset offers global intra-day time and sales, quotes and market depth content dating back to January 1996 for an extensive range of equities, indices, foreign exchange, money, fixed-income and derivatives instruments.

By combining the dataset with Google’s cloud, customers will benefit from a lower total cost of ownership as it will mean spending less on the infrastructure and storage resources required to maintain the database, Refinitiv said.

Moreover, customers will be able to use BigQuery to power more in-depth analysis of the Tick History data, Refinitiv said. That’s important because it gives customers a way to build and back-test trading strategies, perform quantitative research and analysis, and ensure any regulatory requirements are met. In addition, customers can expect to gain faster access to insights as the data can be analyzed where it resides, without being moved into a separate analytics engine first.

The upshot, according to the company: Data scientists and quantitative analysts can be more productive, since they’re spending less time preparing and waiting for data delivery.

In an interview on SiliconANGLE’s mobile livestreaming studio theCUBE in December, James Turck, Refinitiv’s global head of architecture and cloud, said the company’s surveys showed that financial institutions are showing a much keener interest in cloud services than before. He explained this interest was being driven not only by cost efficiencies, but also by benefits such as more agility and innovation and greater resilience.

“As the cloud delivers on its promise to make AI-based analytics more readily available, the potential of data to deliver answers that drive business performance gets ever greater,” said Refinitiv Proposition Director Catalina Vasquez. “Combining Google Cloud’s machine learning tools with Refinitiv’s Tick History data in BigQuery is a step-change for customers looking to develop new trading models, interpret trade patterns or comply with regulations.”

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