DataBP, the market data administration platform and service provider for exchanges, index and data providers, has announced that it is teaming up with the Singapore Exchange (SGX).
SGX is reportedly joining a community of exchanges that will be leveraging DataBP’s platform and managed services to streamline the administration of market data.
Tapping into DataBP’s platform and market data commercial expertise, SGX has introduced SGX Data Direct, an SGX-branded digital portal for data licensing and usage reporting that is being powered by DataBP, which makes it the first exchange in Asia to provide this type of service as a direct channel for data customer engagement.
As capital markets keep evolving and become increasingly data-driven, the scale and complexity of data relationships are limited because of the limitations and inefficiencies of traditional business processes.
The partnership of DataBP and SGX offers the chance to enhance the SGX data client experience. DataBP’s platform enables the fast introduction of various products and the scalability to promote the diversification of subscribers and important vendor relationships.
Joyce Tan, Head of Market Data Development & Delivery at SGX, stated:
“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, remarked:
“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, added:
“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.”