VBIII-ASP will enable local brokerage houses to outsource their non-core IT functions, and provide online trading solutions to their customers at a low startup cost. Via a user-friendly interface that is hosted and maintained in SGX-ITS' e-Services Data-Centre, customers of brokerage houses employing VBIII-ASP will have secure and efficient access to features such as orders placing, stock price listing, analysts reports and a host of personal portfolio management tools, through the Internet.
Mr Roy Simpson, Senior Vice President & Head of SGX-ITS, said: "VBIII-ASP is the first of our many initiatives aimed at developing innovative end-to-end trading solutions for the capital markets. Developed as a result of a strategic partnership with technology leaders Microsoft, Hewlett-Packard and DataOne Asia, VBIII-ASP complements our existing IT trading services and is a logical extension to SGX-ITS' current e-commerce IT product offerings."
VBIII-ASP is based on a pay-per-use application and service delivery model. With the advantage of outsourcing and collectively hosting and maintenance in SGX-ITS' e-Services Data Centre, brokerage houses will enjoy economies of scale. Up-front investment and IT personnel expenditures will be reduced and brokerages will be able to focus their resources on offering more competitive services to their customers.
Commenting on today's announcements, Mr Bob Herbold, Chief Operating Officer of Microsoft Corporation, said: "VBIII-ASP is built on the Windows 2000 platform which has a highly dependable infrastructure. This means customers will have the highest level of performance, reliability and scalability."
"Microsoft believes business today is about having both the ability and the agility to respond quickly to market demands. With key partnerships such as this, SGX-ITS will have the competitive advantage to deliver the most agile e-business solution on the market, in the shortest time," added Mr Herbold.
Ms Tan Lee Chew, General Manager of HP Business Customer Sales Organization (Singapore), said: "Hewlett-Packard brings to VBIII-ASP the breadth and depth of its expertise and experience in developing IT solutions for the financial services industry. In addition, with our wide range of products and services, HP is strategically positioned at the intersection of information appliances, always-on infrastructure and e-services. With this, we are able to provide solutions and services that are always reliable and highly available."
Said Mr Michael Low, Chief Operating Officer of DataOne Asia: "With DataOne Asia providing state-of-the-art data centre facilities to host VBIII-ASP, customers can be assured of the highest level of reliability, scalability, security, and comprehensive support for its networks and infrastructure. DataOne's regional presence also ensures that VBIII-ASP is able to grow into the region with its customers.
More strategic alliances with technology leaders are in the pipeline as SGX-ITS moves forward in its goal to provide a fully comprehensive e-commerce transaction processing solution. The next phase of technology development for VBIII-ASP will see the inclusion of state-of-the-art features such as multi-currency settlement, trading in overseas markets and WAP trading services.
