The Johannesburg Stock Exchange (JSE) has entered a strategic collaboration with DataBP to launch a cloud marketplace aiming to enhance the JSE’s data offerings.
The new data marketplace will serve as the central hub for all of the exchange’s data products and services.
JSE has been on a digital growth journey, including digitising client contracting for index agreements and introducing Trade Explorer for member analytics services.
Having shifted its core data to the cloud, JSE is set to launch a virtual storefront allowing clients to purchase data online easily.
“JSE has developed a comprehensive cloud distribution platform with the intent of integrating all of its commercial information services under this cloud marketplace,” said Mark Schaedel, chief executive of DataBP.
“Together we have developed a dynamic product catalog and order configuration process which integrates with data licensing and automated data access.”
The marketplace will leverage DataBP’s platform to simplify client onboarding, make product development more efficient and automate data access entitlements and billing processes.
The data marketplace will also enable customers and redistributors to access a wide range of products, alongside hosting third-party content and analytics services.
“Migrating data offerings to the cloud is a key part of JSE’s Information and Communications Technology (ICT) strategy. It not only reduces infrastructure costs but also increases flexibility,” said Mark Randall, director of information services at the JSE.
“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.”