EQS Group-Ad-hoc: Leonteq AG / Key word(s): Agreement
PRESS RELEASE | LEONTEQ ANNOUNCES COLLABORATION WITH GOOGLE CLOUD AND ADAPTS SITE RELIABILITY ENGINEERING
Zurich, 02 July 2020
Leonteq AG (SIX: LEON) today announced a new collaboration with Google Cloud to support its platform scalability by extending its infrastructure to the cloud. Furthermore, Leonteq will adapt Site Reliability Engineering (SRE) which aims to deliver scalable and highly reliable software systems.
As part of its ongoing business transformation, Leonteq has entered into a collaboration with Google Cloud to augment its distributed (grid) computation capacities using infrastructure from Google Cloud. As a leader in its field, Google Cloud offers Leonteq additional flexibility and performance at scale for its core grid computation processes, creating benefits throughout all business functions.
This initiative is part of the key strategic initiatives announced in mid-2018 to transform its business model with a focus on delivering enhanced scalability and further growth, achieving optimized capital usage, and completely renewing the investment experience for clients and partners based on a fully digitalised approach.
By leveraging Google Cloud infrastructure, Leonteq is able to increase its computation power by elasticising its grid capacity from two on-site data centres into the cloud, and thus meet the higher computation demand that accompanies business growth and increased demand for the pricing and trading of structured investment products from its clients and white-labelling partners. This will particularly benefit the expansion of new modules and features on Leonteq's digital marketplace (LynQs), the newly designed AMC gateway client portal as well as Leonteq's Smart Hedging Issuance Platform (SHIP) as the latter moves to become fully operational by mid-2020. Leonteq's issuance partners will additionally experience enhanced business continuity management, faster platform rollouts, and improved regulatory and risk management.
As Leonteq moves to expand its core processes into the cloud, it will also work closely with Google Cloud to implement Site Reliability Engineering (SRE), a practice that treats infrastructure and operational aspects as if they were software issues. With Google Cloud's guidance, Leonteq will further improve its platform performance to ensure highest quality service. As a leading marketplace for structured investment solutions, Leonteq has made extensive investments in its digital marketplace LynQs and its structured products offering platform, and views implementing SRE practices as a natural step in remaining at the forefront of technological developments.
Lukas Ruflin, Chief Executive Officer at Leonteq stated: "As we continue transforming our business model towards a higher degree of scalability by innovating our technology platform, it is of high importance that we work with a company also pushing the boundaries of what is and what is not possible. We are excited to be working closely with Google Cloud to bring our core computations to the cloud as well as to adopt the SRE method within our product organisation."
Christian Sciullo, Country Director Google Cloud Switzerland & Austria, added: "We are pleased to welcome Leonteq aboard Google Cloud and to partner with one of Switzerland's most innovative players in the financial services industry to enhance their distributed computation capacities through our Google Cloud infrastructure. We look forward to contributing to the success of Leonteq's innovative offering for structured products by providing flexibility and performance at scale through our cloud technology that will benefit their business functions altogether."
This press release may contain specific forward-looking statements, e.g. statements including terms like "believe", "assume", "expect", "target" "forecast", "project", "may", "could", "might", "will" or similar expressions. Such forward-looking statements are subject to known and unknown risks, uncertainties and other factors which may result in a substantial divergence between the actual results, financial situation, development or performance of the Company or any of its affiliates or subsidiaries and those explicitly or implicitly presumed in these statements. These factors include, but are not limited to: (1) general market, macroeconomic, governmental and regulatory trends, (2) movements in securities markets, exchange rates and interest rates and (3) other risks and uncertainties inherent in our business. In addition, currently, it is very difficult to provide a meaningful prediction on how the governmental actions in response to the ongoing outbreak of a novel coronavirus disease (COVID-19) and other COVID-19 related factors will affect Leonteq's operations and how long such measures will remain in place. The COVID-19 outbreak has caused, and may continue to cause, uncertainty, economic instability and a significant decrease of total economic output in the affected areas and globally. The impact of the COVID-19 outbreak on the general economic environment in the markets in which Leonteq operates remain uncertain and could be significant. Against the background of these uncertainties, you should not rely on forward-looking statements. Neither the Company nor any of its affiliates or subsidiaries or their respective bodies, executives, employees and advisers assume any responsibility to prepare or disseminate any supplement, amendment, update or revision to any of the information, opinions or forward-looking statements contained in this press release or to adapt them to any change in events, conditions or circumstances, except as required by applicable law or regulation.
End of ad hoc announcement
1083611 02-Jul-2020 CET/CEST