Published On: Wed, Oct 29th, 2014

ASX Improves Back Office Operations With GoldenSource EDM

Elmer Funke Kupper, CEO ASX Group -

Elmer Funke Kupper, CEO ASX Group –

The Australian Securities Exchange (ASX) and GoldenSource, a leading independent provider of Enterprise Data Management (EDM) solutions for the securities and investment industry, on 29 October announced the successful
re-architecting of ASX’s core back office systems.

The completion of the project sees ASX go live with GoldenSource’s EDM system for corporate actions management, resulting in faster speed to market and product development, increased automation, and Straight Through Processing (STP). The installation of GoldenSource’s EDM will facilitate near-real time processing of ASX reference data. ASX expects to achieve overall productivity benefits of up to 80% on the previous system.

Timothy Hogben, ASX’s Group Executive Operations, said: “ASX selected GoldenSource to replace its legacy system based on the strength and range of GoldenSource’s data model. It enables ASX to accurately model and link together Customer, Issuer, Instrument and Corporate Actions data while being able to scale in a structured manner.

”The flexible business process management capabilities support ASX’s custom business and workflow processes, which are driven by both regulatory and compliance responsibilities, as well as internal and market-related requirements. “Ultimately, GoldenSource provides the optimum mix of out-of–the-box capability and configurability that is flexible yet structured, and gives ASX the ability to enhance its responsiveness to the marketplace,” said Mr Hogben.

GoldenSource has been in production at ASX since mid-2012 and is the foundation of ASX’s Market Announcement Platform. The current project expands ASX’s use of GoldenSource’s EDM, enhancing management of corporate action announcements, securities reference data and entity data as a platform to support ASX’s growing operations. It also provides ASX with full flexibility to enable further innovation in the market.

This capability underpinned a recently implemented ASX initiative to achieve STP of corporate action notifications, from the issuer to investor. ASX introduced a structured format for ASX-listed issuers to announce corporate actions, with an equivalent PDF announcement released to the marketplace. The structured data is captured in GoldenSource with automatic file creation enabling the introduction of a near real-time corporate action notification feed in ISO 20022 format.

The system handles the core information related to listings and securities data. Market rules related to issuers and their securities are embedded in the system, leading to reduced manual data input, higher data quality and increased STP rates. The rules have built-in flexibility, allowing ASX to nimbly adopt improvements and changes as the marketplace evolves. The move to a real-time processing environment gives the platform the ability to support real-time products services and further productivity enhancements from shortened processing times.

Nassar Ahmad, GoldenSource Vice President for Client Operations in Asia-Pacific, commented: “We are very pleased to have been able to support and work alongside ASX on this important initiative, which has resulted in fundamental improvements not just within ASX, but across the Australian market.”

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