CBA’s Quantitative Solutions Group to use Beacon to support its Global Markets business with sophisticated analytics for the trading and sales businesses.
Beacon Platform, Inc., a leading provider of cloud-based financial technology platforms, announced today that Commonwealth Bank has selected Beacon as the new developer platform for the Quantitative Solutions Group, a part of the Global Markets business within the Institutional Banking and Markets division. The Beacon platform will be deployed to dozens of developers and hundreds of business users across multiple asset classes (Foreign Exchange, Fixed Income, Commodities, and Derivatives) globally, allowing CBA to provide best-in-class service to institutional clients with substantial improvements in operational efficiency.
Commenting on the selection of the Beacon platform, Ryo Shimizu, head of Asia-Pacific, Beacon Platform, Inc., said, “It’s been an honor to work with CBA’s exceptional Quantitative Solutions team. Having helped many clients securely transition to the cloud, we are excited to be a part of CBA’s next-generation One Cloud initiative and help Global Markets achieve their goals.” Kirat Singh, CEO, Beacon Platform, Inc., added, “We are tremendously proud that CBA selected Beacon as their quant developer platform. We look forward to a long and successful business partnership that will benefit both CBA and its clients.”
Beacon recently presented its award-winning platform at Finovate Asia and Fintech Taipei. With a regional office in Tokyo as well as offices in New York and London, Beacon’s new partnership with CBA affirms the company as a leading provider of cloud-based financial technology platforms in the Asia-Pacific region and globally.
About Beacon Platform, Inc.
Beacon is revolutionizing the financial services industry by empowering our clients’ quantitative developer teams and business users like no other platform provider. With the Beacon platform, financial institutions of all sizes can leverage our 20+ years of experience in building enterprise-scale trading, analytics, and risk management platforms at some of the most successful financial institutions in the world. In addition to applications for front and middle office users, the Beacon platform includes cloud-based, secure sandbox infrastructure, a full suite of developer tools, and transparent source code to give our clients unparalleled power to own the full stack and achieve their business goals. Beacon was founded in 2014 by the senior technologists who worked with SecDB at Goldman Sachs and created Athena at JP Morgan and Quartz at Bank of America Merrill Lynch. Beacon has over 70 employees with offices in New York, London, and Tokyo.
About Commonwealth Bank’s Institutional Banking and Markets
As Australia's largest bank we take pride in helping the nation’s leading companies maintain their competitive edge. At home or globally, our dedicated teams specialise in finding client-centric solutions and strategies that help maximise shareholder value across a wide range of industries. Our offices are strategically positioned in New Zealand, Asia, Europe and North America to help our clients capitalise on trade opportunities while managing risk in a rapidly changing business environment.
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