Big Tech is cosying up to capital markets. The announcement this week of a partnership between Microsoft and the London Stock Exchange Group is the third such alliance to be formed in a little over a year.
In November 2021, Google spent $1bn and signed a 10-year cloud computing agreement with Chicago-based CME. Amazon Web Services and New York’s Nasdaq agreed a similar deal later that same month, and last week, Nasdaq completed moving one of its US options exchanges on to AWS.
For the exchanges, the advantages are clear. “We are building products together, we are going to market together,” said David Schwimmer, chief executive of LSEG. “This is about our data and analytics capability.”
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