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Spend less time managing data storage and focus on implementing and designing new ideas.
Annual archival storage and cost reduction
Products & Solutions
Chicago proprietary trading firm Implements NetApp AltaVault Cloud Integrated Storage to Optimize Data Backup.
Spot Trading’s IT team maintains the physical and virtual infrastructure along with the firm’s innovative trading software. The team also takes on strategic projects and focuses on improving efficiency and automation. As Spot’s business grew and regulatory requirements increased, the IT team was spending an increasing amount of time backing up systems and securely storing trading logs, e-mail, and other communications. Time spent dealing with the logistics of backup could be better spent on other pressing business problems.
This was taking approximately one week of one person’s time each month to manage, and it was something Andrew Girin, Spot Trading’s IT technical team lead, wanted to change.
Girin was aware that cloud data storage could be the answer to ending the company’s time-consuming process and an inexpensive way to manage its off-site backups, but he had two concerns. First, the high volume of data Spot Trading needed to archive meant the monthly storage cost per gigabyte had to be low. Second, the archived data had to be secure while stored in the cloud. Research led Girin to NetApp AltaVault (formerly SteelStore) cloud-integrated storage, and as he researched cloud storage providers, he learned of Amazon’s low-cost Glacier storage service.
Eliminating the tape library and cancelling Spot’s current tape management service has reduced backup costs by 96%. From this cost savings alone, the AltaVault cloud integrated appliance will pay for itself in about two years, according to Girin. Another potential cost that was avoided by moving archival data to the cloud was upgrading the company’s SAN infrastructure, which resulted in $500,000 in savings.
About this Customer
Spot Trading is a technology-focused proprietary trading firm built on applied technology, using the latest in innovation to solve problems in the financial markets. The company has grown from a team of five individuals in 1999 to over 120 professionals working in technology, equity research, quantitative, administrative, and trading roles.
About this Partner
Amazon Web Services (AWS) is a dynamic, growing business unit within Amazon.com. AWS offers a complete set of infrastructure and application services that enable you to run virtually everything in the cloud -- from enterprise applications and big data projects to social games and mobile apps.