Bursa Malaysia Berhad (“Bursa Malaysia” or “The Exchange”) has recently signed an agreement with Fusionex International (“Fusionex”) to provide services related to Enterprise Data Analytics (EDA) to facilitate highly accessible, accurate and timely information at the Exchange that will provide better strategic insights and applications for improved customer-centric decisions.
EDA is the discovery and communication of meaningful patterns in data. Especially valuable in areas rich with recorded information, analytics relies on the simultaneous application of statistics, computer programming and operations research to quantify performance.
By implementing EDA to complement the Exchange’s trading platform, Bursa Malaysia will increase its capability to process large amounts of complex data with high performance and speed, enabling it to, among other things, keep track and identify patterns and trends in the multitude of stock and price movements in the market.
Bursa Malaysia Chief Executive Officer, Datuk Seri Tajuddin Atan said, “We are pleased to appoint Fusionex as our preferred vendor to help integrate enterprise data analytics at the Exchange. By leveraging on the big data revolution we intend to provide greater value to the capital market by enhancing our processes, towards identifying new customer and product insights. Bursa Malaysia has fully embraced digitalization as a strategy and transformative tool. Digitalization is a process that is ongoing in every sector, industry and community in the global economy, and Bursa Malaysia will continue to tap into new technological innovations to further develop the marketplace and improve the effectiveness and accessibility of the exchange.”
Fusionex Chief Executive Officer, Dato’ Seri Ivan Teh said, “Bursa Malaysia’s vision to raise the bar and to bring itself to the next level is really exemplary. We are excited and enthusiastic to be selected by Bursa Malaysia as their partner as they embark on this journey to be among the most advanced data-driven organizations in this region.”
Bursa Malaysia has taken an important step towards becoming a forward-moving, data-driven stock exchange, powered by analytics, insights and information. Bursa Malaysia will be able to view company performance, stock prices, and stock movements with ease in numerous areas including investor analytics, market performance, market risk analysis, peer comparisons and sentiment analysis.