Singapore Exchange (SGX) has partnered DataBP, provider of a market data administration platform and services for exchanges, index and data providers, to use the latter’s platform and commercial expertise to roll out SGX Data Direct, an SGX-branded online portal for data licensing and usage reporting powered by DataBP.
SGX joins a community of exchanges using DataBP’s platform and managed services to modernise and streamline market data administration, as well as a growing number of exchanges and capital markets firms seeking to monetise their data assets.
SGX, according to DataBP, is the first exchange in Asia to offer a direct channel for data client engagement. The partnership will provide opportunities to streamline and improve the SGX data client experience based on DataBP’s platform ability to support rapid introduction of new products and scalability to support diversification of subscriber and vendor relationships.Joyce Tan, head of market data development and delivery at SGX, says SGX Data Direct has been developed as a one-stop shop for SGX market data-related matters with customised functionalities to facilitate online data licensing, usage reporting and inventory checking processes available 24/7. She comments: “The implementation of SGX Data Direct underlines our continuous focus on customers and our desire to better understand the needs of the end users of our market data.”
Brandon Baker, co-founder at DataBP, says SGX is joining a community of global exchanges that are ‘leading the transformation of how market data is managed’. He adds: “Our team’s combination of exchange market data experience, combined with our cloud native software services capabilities, has put us in high demand as exchanges continue to invest in their information businesses.”
Based in APAC, Ariel Smukler, head of implementation and APAC at DataBP, says: “The SGX partnership is a huge milestone for us as we execute on our APAC expansion strategy. We are building out our team here and expanding our AWS infrastructure footprint to support further growth in the region.”
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