Orient Futures International Singapore is deploying Snowflake to deliver smarter data-driven financial decisions.
Snowflake, the Data Cloud company, has announced that Orient Futures International (Singapore), a member of the Singapore Exchange (SGX) and Asia Pacific Exchange (APEX), will leverage Snowflake’s Data Cloud to make smarter decisions powered by advanced data analytics.
A direct wholly owned subsidiary of Orient Futures Co Ltd, Orient Futures Singapore offers a suite of capital market products including Exchange Traded Derivatives, OTC Derivatives and Leveraged Foreign Exchange. It also is the holder of the Capital Market Licence (CMS) issued by the Monetary Authority of Singapore (MAS).
Unlike traditional brokers, Orient Futures Singapore offers services developed fully on cloud technology and open architecture; to empower customers to trade more efficiently through technology and financial innovations. With Snowflake, Orient Futures Singapore aims to
- Provide personalized services for portfolio allocation and modelling, through an integrative view of customer profile
- Enable smarter management of customer risk profiles through data analytics
- Perform back testing on historical data and analytical insights from financial data to help customers make better decisions regarding its portfolio
Orient Futures Singapore utilizes technology to create seamless trading experiences for its customers. In line with its vision to become a ‘broker of the future’, Orient Futures Singapore aspires to instil data within its culture to become intrinsically data driven.
As a financial institution, Orient Futures Singapore has a responsibility to store its data securely yet needs to be able to access data from different sources with high computing speed, to stay ahead in providing financial services to clients. The company is constantly exploring ways to extract and analyze data from various sources with speed and security to progress towards its goal of being a data-driven, cloud-first digital brokerage.
With Snowflake’s inbuilt security and governed scalability, Orient Futures Singapore can easily consolidate all its data into a single, centralized platform. Snowflake’s performant computing power allows Orient Futures Singapore’s employees to easily prepare, transform and compute data for business analysis. Teams across various departments can easily access near-real time insights via self-service, which powers faster business decisions.
Philip Huang, Head of Risk Management, Orient Futures Singapore, said: “We are excited to collaborate with Snowflake, which holds the same beliefs in the client-first and tight-security data governance approaches that we prioritize.
“We chose Snowflake because of its expertise and familiarity with local regulatory systems in Singapore as well as its strong track record in the financial industry.
“Snowflake’s storage and computing capabilities are unprecedented and its time to market is much faster compared to other providers.
“We are looking forward to seeing how Snowflake can improve our culture and enable smarter decisions for our clients.”
Geoff Soon, Snowflake’s Managing Director for South Asia, said: “Snowflake is pleased that Orient Futures Singapore has selected the Data Cloud on account of our business focus in scalability, automation and accessibility.
“We hope to enable Orient Futures Singapore to tap on Data Analytics and Data Science to attain its vision of becoming a broker of the future.
“Snowflake is excited to roll out new plans that will benefit financial customers through technological transformation.”
We asked Philip Huang, Head of Risk Management, Orient Futures Singapore, further questions to find out more.
Can you explain how Orient Futures Singapore aims to provide personalized services for portfolio allocation and modelling by leveraging Snowflake’s Data Cloud?
Snowflake’s Data Cloud architecture eliminates complexity and simplifies the data pipeline which enables Orient Futures Singapore to fast track our data integration and customers’ portfolio analysis initiatives. In addition, leveraging on the data distribution technology of Snowflake, Orient Futures Singapore will also be able to manage our centralized datahub for external users within the Snowflake eco-system.
How will Orient Futures Singapore aim to enable smarter management of customer risk profiles through data analytics?
With data visualisation, Orient Futures Singapore will have the capabilities of historical time-series analysis across our business. Pairing this with advanced analytics and deep learning, the company will be able to introduce a new dimension of AI/ML dataset which can be used to drive data-driven and autonomous models for us to better manage our decision-making processes.
Can you explain how Snowflake’s Data Cloud will help your customers make better decisions?
Snowflake’s Data Cloud solution will mainly be used for data processing and distribution of our data. It will be able to fast-track Orient Futures Singapore’s data initiative to offer additional value-added data insights to our end customers which will in turn allow them to make better decisions holistically.
How will the solution allow your organization to become intrinsically data driven?
Snowflake’s solution is able to create an environment for data scientists, business intelligence, analytics professionals and everyone who desires data-driven decision-making. Such a solution is aligned with our company’s data culture which will drive a self-service analytics culture across the company.
How far do the security features offered by Snowflake’s Data Cloud meet your organizations’ requirements?
Data stored in Snowflake is encrypted using AES-256 strong encryption and is within the industry data security standards. At Orient Futures Singapore, partnering with the right cloud vendor with the appropriated data governance and security is crucial to ensure scalability and confidentiality of our customer information. We are using the various data protection controls of Snowflake to meet the regulatory compliance.
How does Snowflake’s Data Cloud help you access data from different sources with high computing speed?
Snowflake’s Data Cloud computing layer is made up of virtual warehouses that execute data processing tasks required for queries independently. This enables non-disruptive, automatic scaling, which efficiently uses compute resources to speed up data accessibility.
What are the major benefits of being able to consolidate all of your data into a single, centralized platform?
Snowflake provides the elements to scale the storage and compute independently, allowing us to store all our data sources in an object storage, giving us a single system of records and everyone on the team can access the data through their independently scaled virtual compute data warehouse. All these are easily provisioned through their global cloud services. We do not require engineers to manage the infrastructure of a data platform. We are assured of zero maintenance and this is in line with our operating model, to focus on the data of our customers, products and services. With such solutions in one integrated set-up, Orient Futures Singapore will reap the benefits of performance, concurrency, accessibility and security, leading to seamless data processes.
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