DataBP, the market data administration platform and service provider for exchanges, index and data providers, announced its partnership with Singapore Exchange. SGX joins a community of exchanges that are leveraging DataBP’s platform and managed services to modernize and streamline the administration of market data.
Tapping on DataBP’s platform and market data commercial expertise, SGX has rolled out SGX Data Direct, an SGX-branded online portal for data licensing and usage reporting powered by DataBP, marking it the first exchange in Asia to offer such a service as a direct channel for data client engagement.
As capital markets continue to evolve and become more data-driven, the scale and complexity of data relationships are constrained due to the limitations and inefficiencies of the underlying traditional business processes. The partnership of DataBP and SGX provides the opportunity to streamline and improve the SGX data client experience. DataBP’s platform supports the rapid introduction of new products and the scalability to support the diversification of subscribers and vendor relationships.
Joyce Tan, Head of Market Data Development & Delivery at SGX, said: “Our partnership with DataBP and the inception of SGX Data Direct offers a direct online channel of engagement with our end-clients. It is developed to be a one-stop for SGX market data-related matters with customised functionalities to facilitate online data licensing, usage reporting and inventory checking process, accessible 24/7. The implementation of SGX Data Direct reiterates 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, said: “We are thrilled to partner with SGX and welcome them to our community of global exchanges that are leading the transformation of how market data is managed. Our team’s unique 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.”
Ari Smukler, Head of Implementation and APAC at DataBP, said: “The SGX partnership is a huge milestone for us as we execute on our APAC expansion strategy. We are building out our team here in APAC and expanding our AWS infrastructure footprint to support further growth in the region.”