The International Property Securities Exchange (IPSX) is working with GoldenSource to implement the software vendor’s cloud-based enterprise data management (EDM) platform ahead of its planned launch towards the middle of this year.
The exchange still needs approval from the Financial Conduct Authority, but expects to be the first regulated exchange dedicated to the admission and trading of securities in commercial real estate assets. As a new exchange, IPSX is keen to operate with minimal technology infrastructure and has opted for cloud solutions for both data management and trading. The GoldenSource solution will store all the exchange’s datasets, including property securities and member firm information, and support market data and workflow processes for admission to trading. It will also handle reference data reporting for new securities.
IPSX selected GoldenSource in a competitive bid based on its work with exchanges – including the Australian Stock Exchange and Moscow Exchange Group – and its breadth of data coverage, flexibility and on-demand platform.
Cyril Théret, CEO at IPSX, says: “We were looking for proven technology that could meet all the needs of a new exchange. The wide-ranging data that can be managed by GoldenSource made it a stand out choice. Also, due to the flexibility of a hosted platform, any IPSX administrator can identify and quickly add new datasets. This will be invaluable as the exchange grows.”
With the exchange needing a data management solution for everything from Know Your Customer due diligence to audit and pricing, Neill Vanlint, managing director of EMEA and Asia at GoldenSource, describes the IPSX implementation as a 360 EDM solution with the benefit of support for both originating and mastering data.
Looking forward, Vanlint expects the cloud version of its EDM platform to find increasing favour with new and existing clients this year – about 50% of its contracts already require managed services – and says the company is well placed to support clients facing data management changes presented by regulatory compliance with Markets in Financial Instruments Directive II (MiFID II) and the Fundamental Review of the Trading Book (FRTB). GoldenSource released version 8.7 of its EDM platform last year, including support for extended regulation, and is now building additional capability to store tick data required by FRTB on the platform.