Nasdaq says it will in 2022 begin migrating its North American markets to Amazon Web Services in a phased approach starting with the Nasdaq MRX U.S. options market. Nasdaq AWS will use a new edge computing solution the companies designed for market infrastructure that will be made available to other entities as well as leveraged across Nasdaq’s anti-financial crime, data and analytics, and market infrastructure software programs. The announcement was issued the same day Goldman Sachs said it was teaming with AWS on a suite of cloud-based solutions for financial institutions.

Describing the deal as “a landmark partnership” on Nasdaq’s journey to become “a truly cloud-based market infrastructure that is more resilient, scalable, and accessible for all,” Nasdaq president and CEO Adena Friedman said in a statement the collaboration builds on a partnership that has been in place for more than a decade that now creates “a bridge to the future for our markets.”

The agreement was announced at the AWS re:Invent conference in Las Vegas. TechRadar reports that attendance is projected at about 28,000, constituting a sell-out, but down from pre-COVID-19 attendance in the area of 60,000. Last year the event was 100 percent virtual, but this year it’s a hybrid.

Nasdaq didn’t share a timeline for moving its other markets, but the exchange “has previously said that all of its more than 25 markets will be hosted in the cloud within the next decade,” The Wall Street Journal reports. “Nasdaq already stores billions of transaction records in a data warehouse operated by AWS, including daily orders and quotes transmitted by traders.”

Revenue management for the U.S. and European markets had already migrated to AWS.

For its part, Goldman Sachs said in a press release that its AWS collaboration “will vastly reduce the need for investment firms to develop and maintain foundational data-integration technology and lower the barriers to entry for accessing advanced quantitative analytics across global markets.”

Institutional clients will be able to accelerate time to market for financial apps “and innovate faster,” according to the release. The moves are part of a cloud migration in the financial services community. Earlier this month, CME Group struck a deal to move its core trading systems to the Google Cloud.