Spot Trading is a technology-focused proprietary trading firm, focused on solving problems in financial markets. As its business grew and regulatory requirements increased, the IT team was wasting one week of one person’s time each month to backup systems and securely store trading logs. Andrew Girin, Spot Trading’s IT technical team lead, began exploring cloud data storage, and the time savings it offered.
Girin was concerned with the monthly storage cost per gigabyte due to the high volume of data, and the security of the archived data while stored in the cloud. NetApp SteelStore cloud integrated appliance accompanied with Amazon’s low-cost Glacier storage service was the solution to Spot Trading’s problems.
After a two month proof of concept, Spot Trading connected to Amazon Glacier, and pointed Backup Exec to the SteelStore appliance. As a result, IT team members reclaimed 40 hours per month to work on higher level projects.
“Eliminating the tape library and cancelling Spot’s current tape management service has reduced backup costs by 96%. From this cost savings alone, the SteelStore cloud integrated appliance will pay for itself in about two years.” – Andrew Girin