Kolon Benit said on the 21st that it has begun building a next-generation electronic disclosure system for the Philippine Stock Exchange (PSE).
The project will upgrade PSE EDGE, the disclosure platform the exchange currently operates, to bring it in line with the latest information technology standards. PSE EDGE is a core information system in the Philippine securities market, handling everything from disclosure filings by listed companies to internal review and approval at the exchange and the delivery of disclosure data to investors. The Korea Exchange (KRX) is overseeing the project, drawing on the market operation experience and disclosure expertise it has built up in Korea's capital markets, while Kolon Benit serves as the strategic IT partner responsible for developing the next-generation system as a whole, including disclosure filing, management and the investor portal.
Kolon Benit took part in building the disclosure system the PSE now runs in 2013 and 2014, and has since continued to accumulate experience in disclosure and exchange systems at home and abroad. Staff who worked directly on the earlier PSE disclosure system are also taking part in this project.
In the first phase, Kolon Benit will maintain the stability of the existing PSE EDGE while upgrading disclosure filing, review, approval and inquiry functions, along with overall data distribution, to a modern environment. The company will strengthen responsive web design, real-time data processing, high-speed search and large-volume data handling. In a second phase, it will build an XBRL-based disclosure system and integrate it with the first-phase system.
The company has also begun a separate system project in Vietnam to support the transfer of stocks listed on the Hanoi Stock Exchange (HNX) to the Ho Chi Minh Stock Exchange (HoSE).
"The understanding of the business, the system development and operation capabilities, and the data processing expertise we have accumulated through exchange and electronic disclosure system projects at home and abroad are an important foundation for this project," said Jung Joo-young, an executive director at Kolon Benit. "By adding next-generation technology capabilities to our existing overseas project experience, we will provide stable support for system upgrades at exchanges in each country and continue to strengthen our expertise in this business."
