The Johannesburg Stock Exchange (JSE) has created a cloud-based marketplace, which aims to serve as the central hub for all its services and data-related offerings.
According to a statement, the JSE is utilising IT services provider DataBP, based in New York, to develop a virtual storefront that allows clients to purchase data-related offerings online.
The new marketplace forms part of the first phase of the JSE’s data modernisation strategy, aimed at enabling customers and redistributors to efficiently access a range of products.
The platform will host third-party content and analytics services, to enhance the value of the JSE’s proprietary data, to create and make deep insights available for investors, it says.
This includes, for example, historical data, providing market indices in real-time and using analytical tools to detect buying intent, allowing it to play an essential role in ensuring the overall integrity and efficacy of the market, it notes.
Other services to be offered via the marketplace include company administration, company reports, bondholder services, expert network, corporate governance, daily summaries of market news, and artificial intelligence-driven company financials that highlight key market information.
By leveraging DataBP's digital platform, the marketplace will simplify client on-boarding, streamline product development and automate data access entitlements and billing processes, notes the JSE.
This approach not only enhances the JSE’s service offerings, but also contributes to the overall health and transparency of the financial landscape, it says.
Mark Randall, director of information services at the JSE, explains: “Migrating data offerings to the cloud is a key part of the JSE’s information and communications technology strategy.
“This offering marks the successful completion of the first phase of our market data modernisation strategy. Ultimately, the JSE aims to leverage cloud services to provide clients with analytics and insights, rather than just raw data.”
By embracing technological advancements, the marketplace will help the bourse to maintain a strong focus on regulatory compliance, through safeguarding customer data and improving customer support, the JSE says.
“DataBP is excited to provide our cloud data marketplace solution to our partners at the JSE,” says Mark Schaedel, CEO of DataBP.
“The JSE has developed a cloud distribution platform with the intent of integrating all of its commercial information services under this cloud marketplace. Together we have developed a dynamic product catalogue and order configuration process, which integrates with data licensing and automated data access.”
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