BBVA announced on Wednesday it has teamed up with Amazon Web Services (AWS) and Bloomberg to developed a new cloud-based technology for the equity markets area of its Corporate and Investment Banking unit. BBVA reported that it has created BBVA C-fit, which is a platform built around AWS and Bloomberg technologies, to provide its equity trading team with one of the “most cutting edge” platforms available in the financial markets sector.
“‘BBVA C-Fit’ can host all the processes of the equity desks related to the marking and management of market data used to set prices or manage book risk. The platform’s groundbreaking design allows for a tremendous growth potential, not only in terms of scalability and elasticity, but also in the deployment of other critical functionalities in the activity, such as mass pricing of products for their distribution through electronic channels.”
Speaking about the collaboration, Roberto Vila, Global Head of Equity at BBVA, stated:
“BBVA C-fit is another example of BBVA’s efforts to strategically transform the equity business into a client franchise, leveraging on technology, and with a clear focus on the manufacturing of investment products.”
Cory Albert, Global Head of Cloud Strategy for Bloomberg’s Enterprise Data business, added:
“Cloud adoption in the financial industry has evolved such that access to reliable, high quality data delivered in real-time is the new baseline. With worry-free cloud access to B-PIPE’s market data, BBVA’s development teams can focus on scaling their projects to provide analytics that would be difficult to attain in an on-premises environment.”