10 Reasons Why Market Data Teams Are Moving from SFTP to Snowflake

For many market data consumers, choosing how to access and analyse large volumes of market data is a critical decision. Key considerations include data security, ease of access, operational efficiency, governance, compatibility with existing analytics tools, and the ability to interrogate and extract insights from datasets quickly and at scale.

At Parameta, we are delivery-channel agnostic, providing data through a range of methods including SFTP, APIs, WebSocket, cloud platforms, and third-party distribution channels. However, we are increasingly hearing from clients who are looking to move away from traditional file-based delivery models and adopt a more modern approach through Snowflake.

Unlike SFTP, which relies on scheduled file transfers and ongoing data management by the recipient, Snowflake provides direct, cloud-based access to data. This shifts control from the typical vendor-delivered file model to a client-driven access model, giving users greater flexibility, faster access to data, and reduced operational overhead.

Snowflake offers a scalable, secure, and self-service environment for accessing market data. Users can query live and historical datasets on demand, create custom views, integrate seamlessly with analytics platforms and rapidly expand access to additional datasets through a single delivery mechanism. The result is faster time to insight, simplified operations, and a more efficient way to consume market data in today’s data-driven environment.

In this article we explore some of the advantages in more detail:

1. Faster Access to Data with No Delivery Delays

With an SFTP workflow, data must first be extracted, converted into the desired format, transferred, and then downloaded by the client. This can introduce delays of approximately 15–20 minutes. By accessing data directly in Snowflake, users can query the data as soon as it is available, eliminating file transfer delays and enabling more timely data consumption.

2. Unified, Flexible and Efficient Data Access

Snowflake provides a unified environment for accessing current, historical and tick-level Parameta datasets through a single platform. Users can query live and historical market data through the same interface, create snapshots whenever needed, adjust retrieval frequencies to match business requirements, and build custom intraday workflows or aggregation methodologies. Because users can query and extract only the specific data required, rather than downloading and processing entire files, Snowflake reduces data volumes, minimises ETL workloads and creates a more flexible, self-service and efficient way to consume market data.

3. A Low-Risk Migration from SFTP

Moving from SFTP to Snowflake doesn’t mean rebuilding your downstream processes. Using SQL, Snowflake can replicate existing file structures, including matching column headers and data formats, helping ensure compatibility with current workflows and systems. This reduces migration risk, simplifies testing and validation, and allows firms to modernise data delivery while maintaining consistency with the datasets they already receive today.

4. Seamless Integration with Existing Data Platforms

Snowflake integrates easily with leading analytics and data platforms, including Databricks, allowing firms to incorporate Parameta data directly into existing data pipelines and workflows. This enables teams to continue using their preferred analytics tools while seamlessly incorporating market data into broader enterprise data architectures.

5. No Additional Infrastructure or Implementation Costs

Getting started with Parameta data on Snowflake is simple and cost-effective. There are no implementation fees, no new hardware requirements, and no complex deployment projects to manage. With straightforward onboarding through shared access and credentials, firms can begin accessing and analysing data quickly while avoiding the operational costs typically associated with traditional data delivery solutions.

6. Scale Your Data Strategy as Your Needs Evolve

With all Parameta datasets available through Snowflake, firms can easily expand their data consumption over time without introducing new delivery methods or infrastructure. Whether consolidating multiple market data feeds into a single platform or adding access to new datasets as requirements grow, Snowflake provides a scalable foundation that simplifies data management and supports future business needs.

7. Preserve Point-in-Time Data Integrity

Parameta data on Snowflake maintains a historical record, ensuring past observations are not overwritten or retrospectively changed. Any updates are delivered as new timestamped records, providing a clear audit trail and point-in-time transparency, and reliable data for backtesting, model validation, and regulatory reporting.

8. Native Python, AI and ML Where the Data Lives

Snowflake enables users to run Python-based data engineering, analytics and machine learning workflows directly within the Snowflake environment. With Snowpark, Snowflake ML and Cortex capabilities, teams can build features, train models, run inference and apply AI functions close to governed market data, without first extracting or replicating large datasets into separate platforms. This reduces data movement, avoids unnecessary replication costs, strengthens governance and makes it easier to operationalise analytics and AI use cases on trusted Parameta data.

9. Agentic Workflows with Snowflake CoCo and CoWork

Snowflake’s emerging agentic capabilities further enhance the value of consuming market data directly in Snowflake. CoCo provides a Snowflake-native AI coding agent for data engineering, analytics, machine learning and agent-building tasks, helping technical teams generate, optimise and review SQL, Python, pipelines and data workflows in context. Snowflake CoWork extends this to business users through a conversational, governed analytics experience, allowing users to ask natural-language questions, generate trusted insights, create reusable artifacts and act on structured and unstructured enterprise data while respecting Snowflake security and governance controls.

10. Free Trial Accounts

Explore Parameta datasets on Snowflake with a free trial account. Simply visit the Snowflake Marketplace, browse the datasets available, and request complimentary access to start evaluating the data.

Get Started in Four Simple Steps

1. Select Your Asset Class Data

Parameta provides access to a wide range of OTC market data sets through the Snowflake Marketplace. Browse the available asset classes and select the data you would like to access, including rates, credit, FX, energy, commodities and more.

2. Request a Free Trial

Complete the short request form to apply for trial access. Once submitted, our team will review your request and provision access to the selected datasets.

3. Log In to Snowflake

Once your access has been approved, simply log in to your Snowflake environment. The relevant Parameta data products will be available directly within your Snowflake account.

4. Start Exploring the Data

Use Snowflake’s powerful querying, analytics and AI tools to interrogate Parameta data, uncover insights, and integrate trusted market data into your workflows, models and applications.

About Parameta Solutions

Parameta Solutions is the data and analytics division of TP ICAP Group and the exclusive provider of OTC market data from TP ICAP’s leading brokerage brands, including ICAP, Tullett Prebon and PVM.

We deliver high-quality OTC market data, indices and analytics across interest rate swaps and options, money markets, FX, and energy and commodities markets. Our solutions help financial professionals worldwide enhance price discovery, develop trading strategies, perform pre and post-trade analysis, manage risk and meet regulatory requirements with confidence.

At Parameta Solutions we deliver data how, when and where you need it. You can take delivery of OTC market data:

• Direct: Instant access through API, streaming or SFTP channels
• Cloud delivery: Access via our cloud partners including Snowflake, AWS, GCP & Azure.
• Channel partners: Connect via our extensive network of partners including LSEG, Bloomberg, S&P & ICE.

Contact us to learn more about our OTC data products or request a sample dataset.