Get 40% Off
🤯 This Tech Portfolio is up 29% YTD! Join Now to Get April’s Top PicksGet The Picks – Just 99 USD

BlackRock's Aladdin investment management platform to be hosted on Microsoft's cloud

Published 04/07/2020, 04:04 PM
Updated 04/07/2020, 04:05 PM
© Reuters. FILE PHOTO: The company logo and trading information for BlackRock is displayed on a screen on the floor of the NYSE

© Reuters. FILE PHOTO: The company logo and trading information for BlackRock is displayed on a screen on the floor of the NYSE

By Saqib Iqbal Ahmed

NEW YORK (Reuters) - BlackRock Inc (NYSE:BLK), the world's largest asset manager, has partnered with Microsoft Corp (NASDAQ:MSFT) to have its Aladdin investment and risk management system hosted on the Microsoft Azure cloud platform, the companies said on Tuesday.

The migration to the Microsoft Azure cloud platform will take place over many months and Aladdin users are not expected to see any impact in the near term, BlackRock said.

"Aladdin infrastructure deployed on Microsoft Azure’s cloud platform will provide BlackRock with enhanced capabilities to deliver the best outcomes for our Aladdin clients," Rob Goldstein, chief operating officer at BlackRock, said in a statement.

The companies did not disclose the financial terms of the deal.

BlackRock's Aladdin system is used by asset managers to help manage the risk in their portfolios and assist them in trading, data management and other operations.

Aladdin, which began as internal investment management software, has in recent years been opened up for use by wealth managers such as UBS, Morgan Stanley (NYSE:MS) and HSBC as BlackRock tries to increase revenue from technology.

© Reuters. FILE PHOTO: The company logo and trading information for BlackRock is displayed on a screen on the floor of the NYSE

Continued investment in Aladdin and its 2019 acquisition of French software provider eFront helped boost BlackRock's technology services revenue to almost $1 billion for 2019.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.