NYSE Euronext's technology division this month announced what it called the first cloud service for the financial services industry.

NYSE Technologies said its Capital Markets Community Platform is designed to "increase business agility, simplify market access and reduce trading friction by using rapid, on-demand computing resources."

NYSE Euronext said that its 1,200 broker-dealer clients can purchase the computing power they need at a given time so they can focus on their core business operations rather than on the design and maintenance of complex IT infrastructures.

The cloud service is undergoing beta testing and will go live July 1. NYSE Technologies CEO Stanley Young said the service already has several customers, including Millennium Management, Pico Quantitative Trading and others he could not name publicly.

The platform, which resides in a new 100,000-square-foot data center, was built using VMware's vSphere cloud infrastructure management software, vShield security application, and vCloud Director, which pools virtual services, as well as EMC's VNX unified storage arrays.

Young called the offering a "community cloud" for capital markets and said it shouldn't be considered a public cloud like those offered by Google and