NeoXam Creates Central Data Repository for SGX

The Reference Data System (RDS)—deployed by NeoXam’s data management solution DataHub—stores corporate actions, issuer and financial statements data on equities, bonds, and exchange-traded funds, as well as facilitating the creation and delivery of the exchange’s reference data market-facing feed.

Tim Versteeg, general manager at NeoXam APAC (ex-China), says SGX was previously using a proprietary system to store the data. “While it served the purpose for decades, they were looking for something more flexible to meet potential new requirements. Now it is easier to make any changes, and the cost of maintenance is lower than a mainframe-based legacy system,” he says.  

The new system also enables future enhancements such as the automatic generation of events, for example, coupon payments or maturity of bonds.

Versteeg says the RDS could support additional products down the line, such as new security classes or different data types. “On the lowest level it is adding new feeds, while on the bigger level it’s generating events from the data that we have, and then on the biggest level, it would be the inclusion of new data types,” he says, adding that those extra data feeds would be quite cumbersome to deliver using SGX’s previous tool, which would require a lengthy implementation process.

Kin Yee Ng, head of market data and connectivity at SGX, says in a statement: “We were looking for software which could be scalable, whilst having the capacity for our team to maintain the system internally. NeoXam’s DataHub allowed us to adhere to ISO and industry conventions, with the flexibility to adapt to changing data demands of the industry.”