IDX leverages a logical data platform for data delivery that reduces cost and drives collaboration
SINGAPORE, May 10, 2022–(BUSINESS WIRE)–Denodo, the leader in data integration and management, today announced that the Indonesia Stock Exchange (IDX) has chosen the Denodo Platform as a strategic component of their modern data management architecture, to enable better and faster distribution of market data to their clients.
Indonesia Stock Exchange (IDX) as one of the regulators and trade organizers in the Indonesian Capital Market provides various Market Data product solutions which are developed to provide information to the public in order to support the right decision making.
“We are making it easier for our members and subscribers to receive market data and are more focused on delivering trusted data in real-time.” said Laksono W.Widodo, Director of Trading and Membership at IDX. “Leveraging a logical approach to data management and integration is key to meeting this objective and improving our data services offerings.”
IDX receives a significant volume of transactional data daily, for example, Stock & Bond trading data. This data resides in distributed, stand-alone systems. There are different data structures and a broad network of both internal and external data sources that need to be connected, combined and consumed. The logical data fabric enabled by Denodo Platform allows all of this disparate data to be managed in a single place.
“The first data challenge that we solved using Denodo was to integrate real-time messaging and streaming data with other API data sources to support our new Market Data system initiative,” said Laksono “and we see other use cases for Denodo. So, it will be a critical part of our longer-term data architecture as we expand our data sources”.
Denodo will be used to improve data management and governance through the single logical data layer that it provides and accelerate information delivery.
“We are very proud to be working with IDX, to help them establish secure access to market data for their clients,” said Ravi Shankar, Senior Vice President and Chief Marketing Officer at Denodo. “The advanced data integration and management capabilities of the Denodo Platform provide significant benefits to organizations like IDX, that use it for accelerating data access and improving speed-to-market.”
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About Indonesian Stock Exchange
Indonesia Stock Exchange (IDX) is a Self-Regulatory Organization that has created a trusted and credible financial market infrastructure to deliver fair, orderly and efficient market, accessible to all stakeholders through innovative products and services. Our vision is to be a competitive stock exchange with world class credibility. We aim to develop Indonesia capital market to bring prosperity as one of the pillars of the Indonesia economy. We also actively seek to create more impact globally by joining World Federation of Exchanges and Sustainable Stock Exchanges. Our goal is becoming a credible Exchange that drives financial deepening, enabling Indonesia to become the 5th largest economy by 2045.
Denodo is a leader in data management. The award-winning Denodo Platform is the leading data integration, management, and delivery platform using a logical approach to enable self-service BI, data science, hybrid/multi-cloud data integration, and enterprise data services. Realizing more than 400% ROI and millions of dollars in benefits, Denodo’s customers across large enterprises and mid-market companies in 30+ industries have received payback in less than 6 months. For more information, visit www.denodo.com or call +1 877 556 2531 / +44 (0) 20 7869 8053 / +65 6950 7489.
View source version on businesswire.com: https://www.businesswire.com/news/home/20220509005364/en/
Vincent Leong –
Vice President, PR, Ying Communications (a FINN Partners company)