Kolon Benit Begins Work on Next-Generation Disclosure System for the Philippine Stock Exchange
IT DAILY ·
✦ AI Summary
Kolon Benit said on the 21st that it has begun work on building the Philippine Stock Exchange's (PSE) next-generation electronic disclosure system. This project is aimed at upgrading PSE EDGE, PSE's electronic disclosure system, to match the latest IT environment. In phase 1, disclosure submission, review, approval and retrieval functions, along with data distribution, will be upgraded, and in phase 2, a disclosure system based on XBRL will be built and integrated with the phase 1 system.
Kolon Benit said on the 21st that it has begun work on building the Philippine Stock Exchange's (PSE) next-generation electronic disclosure system. The project is aimed at upgrading PSE EDGE (Electronic Disclosure Generation Technology), PSE's electronic disclosure system, to better fit the latest IT environment.
PSE EDGE is a system that processes disclosure submissions from listed companies, handles internal review and approval at the exchange, and provides disclosure information to investors. The system is a core information system in the Philippine stock market.
The Korea Exchange (KRX) is overseeing the project based on its experience operating Korea's capital market and its expertise in disclosure operations. Kolon Benit is participating as a strategic IT partner and will handle the overall development of the next-generation system, including disclosure submission, management and investor portals. Based on its experience developing and operating exchange systems in Korea and abroad, Kolon Benit plans to upgrade the overall process for disclosure submission, review, approval and investor information delivery.
The photo description showed a view of Kolon Tower, where Kolon Benit's headquarters is located.
Kolon Benit said staff members who participated in the development of PSE's existing disclosure system will lead the next-generation project development, and that it plans to support a stable transition to the next generation by combining its deep understanding of the existing EDGE system with its experience developing and operating Korea's latest disclosure systems.
The project will proceed in the first phase by maintaining the stability of the existing PSE EDGE while upgrading disclosure submission, review, approval and retrieval functions to the latest environment, along with the entire data distribution process. The work will focus on responsive web design, real-time data processing, faster search and stronger support for large-scale data processing. In the second phase, a disclosure system based on XBRL (eXtensible Business Reporting Language) will be built and integrated with the first-phase system, with the goal of structuring financial information and improving disclosure data validation and usability.
Separately, Kolon Benit is continuing system projects related to the Hanoi Stock Exchange (HNX) and the Ho Chi Minh Stock Exchange (HoSE) in Vietnam. More recently, it began a system project to support the transfer of HNX-listed securities to HoSE. Based on its track record of participating in IT service projects related to HNX and HoSE, Kolon Benit is accumulating experience in Vietnam's securities market systems business.
Jeong Ju-young, an executive director at Kolon Benit, said the company has accumulated an understanding of exchange operations through its track record of carrying out exchange projects and electronic disclosure system projects in Korea and overseas, and that it has system development and operations capabilities as well as data processing capabilities, which form the core foundation of this project. He added that, based on its existing overseas project experience, Kolon Benit plans to combine next-generation technology capabilities to stably support the upgrading of exchange systems in various countries and continue strengthening its expertise in related businesses.
Source: IT DAILY · Yang Seung-gap
Original: https://www.itdaily.kr/news/articleView.html?idxno=241767
References
This article was produced with the help of an automated content generation algorithm.
Source: IT DAILY
View originalThis article was summarized and organized by BizCrush based on the original article from IT DAILY. For exact quotations and full details, please refer to the original article.