NSE partners with MediaAgility to create a cloud-based research platform

Published on: Feb 20, 2022

National Stock Exchange of India Ltd. (NSE) is a leading stock exchange of India located in the city of Mumbai, Maharashtra. NSE has remained at the forefront of support to financial market research in India since early 2000 and has undertaken several research initiatives over the years, including research collaborations with top-notch global and domestic academic institutions, renowned think tanks, and global multilateral agencies. In an endeavor to extend their offerings in the research and development field and provide an enabling environment for researchers to access and analyze high-frequency orders and trades data, they worked with MediaAgility to set up a cloud-based research platform.

The need: A cloud-based research platform for academicians and researchers

NSE required a solution whereby researchers and users from within the organization as well as external researchers could access and analyze large data sets comprising of tick-by-tick orders and trades data (approximately a petabyte and rising by nearly a terabyte daily) in a cloud-based environment. The evolving scale of the data and its security was the prime concern of NSE.

The Google Cloud team introduced MediaAgility to NSE as a System Integrator. Our existing association with NSE and Google’s confidence in our capabilities prompted NSE to finalize us as their solution implementation partner.

MediaAgility’s solution: A new research facility on Google Cloud

To provide a robust technological solution, we performed a phased lift and shift migration of data from the NSE’s Data Warehouse to Google Cloud Platform. This new research facility on the cloud was called the NSE Dataroom.  

“As a System Integrator, MediaAgility helped us build a cloud-based research facility called NSE Dataroom within tight timelines and stringent security requirements. They assisted us through the process of understanding our requirements via multiple brainstorming sessions and implemented an optimal, secure, and cost-effective solution that has truly transformed the research ecosystem provided by NSE.” ~ Dr. Tirthankar Patnaik, Chief Economist at National Stock Exchange.

Some of the Google Cloud and other products that were used include:

  • Virtual Machine: A virtualized instance of a computer providing heavy compute capabilities
  • Cloud Storage: Used for storing and accessing data on Google Cloud Platform infrastructure
  • BigQuery: Multi-cloud data warehouse used for analysis of big data
  • Google SSO: Used for a secure log-in to the cloud applications
  • Cloud SQL: Used to store user-related data, such as user IDs, configurations, etc.

Given Google Cloud’s ability to scale up the offering without compromising on security aspects,  the solution will be highly scalable and secure. Researchers can now easily log in to the virtual system to view, query, and analyze the data as per their project requirements. The solution also enables them to extract relevant codes and results from the platform provided they meets NSE’s policy guidelines. 

“MediaAgility along with Google shouldered the responsibility of understanding the solution architecture and providing the final solution. They have been instrumental in laying the foundation as well as fully complying with all security and operational requirements.” ~ Dr. Patnaik.

NSE Dataroom on Google Cloud Platform helped NSE manage access controls

After implementing the solution, researchers and academicians could log in to a highly stable and secure platform to access historical data without NSE having to worry about data security.

Each researcher could get access to all data exploration and analytics tools in one place. With the help of Google cloud IAM policies, authentication and authorization controls were set up to prevent unknown identities from accessing the data sets. NSE can now manage access control by defining who has how much access to the resources. Google Cloud’s high levels of security ensured that all sensitive data is stored solely in the cloud, away from local end-user devices.

“We were thrilled to be associated with an esteemed institution like National Stock Exchange and developing a state-of-the-art, fully secure research platform for researchers that is scalable to handle large volumes of users and growing data at a rate of 1TB per day.” ~ Nirdesh Chahal, Head of Cloud Engineering Services, MediaAgility.

NSE Dataroom, as a cloud-based research platform, is immensely scalable, not just in terms of getting more and more researchers onboarded but also in terms of computational capabilities. It would enable NSE to replace the old practice of transferring high-frequency orders and trades data (often dozens of terabytes) to researchers by hosting it on the cloud. NSE benefits from the time and cost-effective solution that also assures data security. . 

“The state-of-the-art solution provided by MediaAgility is highly secure, robust, cost-effective, and efficient. The research work, its results, and usage of data for EDA are fully controlled by NSE. Any researcher is allowed to carry out EDA only after a fully-automated diligent approval process. The system spawns the computed resources on the fly in the form of a virtual data room as soon as a researcher is approved for EDA,” said Dr. Patnaik.

As a result of the solution, NSE retained ownership of data by allowing researchers to work on this data using a virtual machine with all security protocols in place, ensuring restricted use and, therefore, no data misuse. The provision of high-performance hardware as part of the NSE Dataroom, on the other hand, helps researchers efficiently carry out analytics and research on this big data. 

Are you looking for a more scalable and efficient solution for your big data sets? Talk to MediaAgility’s digital innovation experts to learn how Google Cloud meets your business needs. Drop an email at [email protected].  

Copyright disclaimer

Your content will be governed by the Terms of Use of our website. If you want to specifically use the disclaimer on a material content then you must add the following:

This marketing material may be used for the purpose of information only. Information means all information on this website including projects or product information, proprietary information of MediaAgility, its associates and clients and other technical/marketing materials pertaining to MediaAgility.

By visiting the website or downloading information from the website, the visitor is deemed to have accepted to abide by the terms and conditions given hereunder. If the visitor does not agree to abide by these terms and conditions, then he or she should not use the website or download Information from the website.

Information given in this website, the layout of the contents including the copyrights and other intellectual property rights are owned by and proprietary to MediaAgility, its associates and clients and are reserved and vest solely with MediaAgility, its associates and clients, as the case may be.

Subject to the terms and conditions set forth hereunder, MediaAgility will grant a non-exclusive, non-transferable right to access this website and the Information herein.

MediaAgility shall be free to use, copy or distribute such feedback, information or materials on an unrestricted basis without accounting to the person who has submitted.

All information on this website is subject to change or withdrawal by MediaAgility at any time without notice. It also implies that MediaAgility will have no responsibility for the accuracy or completeness of the information. The obligations and responsibilities regarding the projects, products or services are governed solely by the agreement under which they are offered or licensed.

To the maximum extent permitted by law, in no event shall MediaAgility be liable to the visitor of this website or any other party or person, whether in contract, tort or otherwise, for any direct, indirect, incidental, consequential or punitive damages including loss of savings or profit, lost data, interruption to business or legal fees, arising out of or in connection with the use of any information available from this website or any other hyperlinked website, even if MediaAgility expressly advised of the possibility of such damages.

This website or marketing material may contain hyperlinks to other websites controlled by parties other than MediaAgility and MediaAgility is not responsible for and does not endorse the contents, marketing material, or use of these websites. Any access or use of such hyperlinks to other websites is at the discretion and risk of the intended user.