Singapore Exchange (SGX) has selected NeoXam for data management solutions and transaction software solutions dedicated to the financial industry.
This will be carried out in order to create a central data repository to store reference and corporate actions data.
According to NeoXam, in the era of business diversification, stock exchanges are no longer simply venues where one can buy and sell securities.
The exchanges, which are horizontally and vertically integrated, need to manage a considerable number of complex data and workflows, NeoXam revealed.
Consequently, SGX has launched the reference data system (RDS), with the help of NeoXam’s DataHub, which creates a central data repository to house all their instrument related reference data and corporate actions in one place.
Besides acting as the central source within the exchange, RDS facilitates the creation and delivery of the reference data market facing feed.
This SGX reference data feed is available to any party interested in timely and accurate Singapore security, issuer, and financial statement data.
It was also revealed that the same data sets can be used in parallel with SGX’s existing corporate actions feed service for an enriched offering.
NeoXam’s software will also support future enhancements such as the automatic generation of events and introducing more data products within the platform.
Ng Kin Yee, head of market data and connectivity at SGX, said: “We were looking for software which could be scalable, whilst having the capacity for our team to maintain the system internally.”
“NeoXam’s DataHub allowed us to adhere to ISO and industry conventions, with the flexibility to adapt to changing data demands of the industry.”
Tim Versteeg, general manager at NeoXam APAC (exChina), commented: “The infrastructure of an exchange and numbering agency like SGX has to meet the highest regulatory and global standards.”
“We are thrilled to work with SGX to achieve and continue to ensure compliance in a smooth and cost-effective manner by utilising our out-of-the-box, adjustable data models and workflows, which enabled a swift and agile implementation.”
