The Indonesia Stock Exchange (IDX) is the national stock exchange of Indonesia, the largest economy in Southeast Asia and the fourth most populous country in the world. IDX offers market information, news, regulation, publication, and trading services. On average, there are 23 billion shares traded on IDX every day.
Challenges
IDX faced significant challenges with its massive daily transactional data, including stock & bond trading data, spread across distributed, standalone systems. This impacted IDX in creating new revenue streams through additional data services and products. Integrating diverse data structures from a broad network of internal and external sources was complex. The company’s existing infrastructure struggled with data type support and distributed systems, leading to time-consuming data preparation and inefficient data delivery.
Solution
To overcome these challenges, IDX implemented the Denodo Platform, which enabled centralized management of distributed data, providing IDX clients with faster access to market data. The Denodo Platform helped IDX to integrate real-time messaging and streaming data with API sources, supporting the company’s new Market Data System initiative. This improved data management and governance through a single logical data layer, accelerating information delivery.
Benefits
With the Denodo Platform Platform, IDX significantly enhanced its data distribution capabilities. IDX now delivers data-as-a-service through streaming, messaging, and APIs. There are now more than 175 APIs in use, some of which are used for new data services generating incremental revenue streams. The Denodo Platform has also fostered collaboration within the business and reduced costs for its customers, by enabling direct market access.
By leveraging the Denodo Platform, IDX has improved its data distribution efficiency, governance, and real-time data delivery, positioning itself for future growth and innovation.
At a glance