Snowflake Stock – Arcesium Enters Into Partnership With Snowflake
NEW YORK, July 13, 2021 /PRNewswire/ — Arcesium, a global financial technology and professional services firm, announced today that its partnership with Snowflake, the Data Cloud company, will serve as Arcesium’s foundational database designed to extend its data platform capabilities.
Arcesium elected to build on the Snowflake platform, using the Snowflake Data Cloud, to allow its clients to directly access and process real-time business information. Customers can now directly access their databases through the Arcesium and Snowflake partnership.
In a recent case study with Snowflake, Dmitry Miller, Head of Technical Relationship Management at Arcesium, outlined the technology’s new potential and benefits for the end-user: “Snowflake unlocks new business possibilities for Arcesium while also increasing our clients’ data flexibility and their overall satisfaction with our platform.”
Arcesium processes millions of transactions a day, generating profit and loss information for hundreds of thousands of holdings. By partnering with Snowflake, Arcesium is equipping clients with full access to and complete control over their transactional data from any location on a daily basis.
“We are excited to partner with Arcesium as they use Snowflake to power their platform,” said Snowflake VP of Customer Product Strategy, Matt Glickman. “This partnership can help financial services firms explore a new realm of data accessibility and provide a new vehicle for building stronger competitive advantages.”
Blackstone, an early investor and client of Arcesium, has seen the difference in this recent addition to Arcesium’s platform. “By enabling access to our data via Snowflake’s Data Cloud, Arcesium has further enhanced our experience with their product, expanding what we’re able to do with our data,” said Thomas Pologruto, chief data architect & CTO of Liquid Markets and Data Science at Blackstone Alternative Asset Management.
Mr. Pologruto continues, “While APIs have been a good mechanism for transactional operations, Snowflake’s integrated platform provides a better technology to publish reporting datasets to clients. It lowers the technical barriers to access public cloud-based platforms and allows a larger collection of our internal teams to leverage the data.”
In addition to the direct data access provided through the Snowflake integration, Arcesium built a data analytics and visualization module on top of the database. The firm plans to continue investing in the cloud-native solution to further simplify clients’ data stories.
“Our partnership with Snowflake has already allowed Arcesium to develop and deliver new solutions to our clients,” said David Nable, Head of Client and Partner Development at Arcesium. “We are excited to see how this relationship will continue to grow over the coming years.”
About Arcesium LLC
Arcesium is a global financial technology and professional services firm, delivering solutions to some of the world’s most sophisticated financial institutions, including hedge funds, banks, institutional asset managers, and private equity firms. Expertly designed to achieve a single source of truth throughout a client’s ecosystem, Arcesium’s cloud-native technology is built to systematize the most complex tasks.
Building on a platform developed and tested by investment and technology development firm, the D. E. Shaw group, Arcesium launched as an independent company in 2015. Arcesium received additional equity backing from a second seed client, Blackstone Alternative Asset Management, the world’s largest discretionary allocator to hedge funds. In January 2020, J.P. Morgan made a strategic investment in the company.
Arcesium supports more than $465 billion in assets with a staff of over 1,425 software engineering, accounting, operations, and treasury professionals.
For more information about Arcesium and our products & services, please visit www.arcesium.com and be sure to follow us on LinkedIn.
Todd Fogarty, Kekst CNC
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