Australia's Macquarie Group has migrated its core trading and settlement platform to the cloud.

Dubbed Calypso, the platform is a NASDAQ-built solution that handles front-to-back trading and currency settlements for the group.

As reported by ITNews, Calypso has now been moved to Amazon Web Services' (AWS) public cloud.

Calypso had previously been running in a data center that was "shutting down." The migration took place over a single weekend.

Macquarie Group's program manager of commodities and global markets post-trade technology, Justin Buckland, said at an AWS Financial Services Symposium in Sydney: "We wanted to get ourselves into an evergreen position and that means being on the current versions so we can start to take advantage of what is offered in cloud from AWS."

The original version was not built for the cloud, added Buckland, which along with being very complex, made the migration a logistical and technological challenge.

The team spent four weeks preparing for the move. According to Buckland, the migration posed a large risk, and "our mission had to be that the business didn't notice the change."

In addition to the core platform, Macquarie also moved the database associated with Calypso to Amazon Aurora.

Macquarie Group previously migrated its event platform to AWS in 2021, and its SAP core banking system in 2022. In February 2020, Macquarie said it aimed to have its banking and financial services 100 percent in the cloud by the end of 2022. In August 2024, Adapt reported that the group had successfully migrated 96 percent of its IT to the cloud.