Kolon Benit Takes on PSE Disclosure System Overhaul

Kolon Benit has begun work on building the next-generation electronic disclosure system for the Philippine Stock Exchange (PSE). According to the announcement on the 21st, Kolon Benit will carry out Phase 1 development of the next-generation PSE EDGE (Electronic Disclosure Generation Technology) system.

The PSE currently operates the electronic disclosure system, PSE EDGE. PSE EDGE is a core information system in the Philippine stock market that handles disclosure submissions by listed companies, review and approval within the exchange, and the provision of disclosure information to investors.

The project is aimed at upgrading the existing system to match the latest IT environment. Korea Exchange (KRX) has accumulated experience in market operations in Korea's capital market and will oversee the project based on its expertise in disclosure work.

Kolon Benit will serve as the strategic IT partner in this project. The company will be responsible for developing the next-generation system for disclosure submission and management, as well as the overall development of the next-generation system, including the investor portal.

Starting from its participation in building the PSE's operational electronic disclosure system in 2013 and 2014, Kolon Benit has since continued to accumulate development and operations experience in domestic and overseas disclosure and exchange systems.

In Korea, Kolon Benit has handled the development and operations of the Financial Supervisory Service's DART, the Korea Exchange's KIND, and the mobile disclosure system mKIND. Through this, it has secured an understanding of disclosure submission, review, and release processes, as well as capabilities in the stable development and operation of large-scale systems, data processing and structuring, and system upgrading.

Personnel who participated in building the existing PSE disclosure system are leading development of this next-generation project. The person in charge previously handled DART operations after developing the PSE system, as well as mKIND development and KIND operations and maintenance, and has continued working on electronic disclosure system projects in Korea and overseas.

Kolon Benit has drawn up a plan that combines its understanding of the existing PSE EDGE with its experience in developing and operating Korea's latest electronic disclosure systems. The goal is to maintain the stability of the existing system while supporting the transition to the next-generation environment.

The project will first proceed with Phase 1, which will upgrade the overall disclosure submission, review, approval, inquiry, and data distribution functions of PSE EDGE. The upgrade standard is compatibility with the latest IT environment. Phase 1 will be built in a responsive web environment, and it will also strengthen real-time data processing, high-speed search, and large-volume data processing functions.

In Phase 2, the company plans to build a disclosure system based on XBRL (eXtensible Business Reporting Language). The Phase 2 plan is to integrate it with the Phase 1 system. Expected benefits from Phase 2 include the structuring of financial information, improved verifiability of disclosure data, and greater usability of disclosure data.

After the Philippines, Kolon Benit is expanding its securities market system business in Vietnam. In August, it began a project to support the transfer of listed stocks on the Hanoi Stock Exchange (HNX) to the Ho Chi Minh Stock Exchange (HoSE). Kolon Benit previously participated in IT service projects related to HNX and HoSE, and through that has built up experience in securities market system business in Vietnam.

Kolon Benit said it has experience developing and operating exchange systems in Korea and overseas, and based on that it will continue building and upgrading systems that respond to changes in each country's exchange rules and operating environment. It added that it also plans to keep strengthening its IT expertise in core exchange functions such as electronic disclosure, market information, and market surveillance.

Jung Joo-young, an executive director at Kolon Benit, said that the company has accumulated experience in executing exchange and electronic disclosure system projects in Korea and overseas, and that its understanding of business operations and its capabilities in system development, operations, and data processing form the basis of this project. He added that the company plans to combine its overseas project experience with next-generation technology capabilities to steadily support the upgrading of exchange systems in various countries and continue strengthening its expertise in related businesses.

Source: TECHWORLD · Park Kyu-chan
Original: https://www.epnc.co.kr/news/articleView.html?idxno=407191

References

• https://www.epnc.co.kr/news/articleView.html?idxno=407191