Australian Securities Exchange (ASX)
Managing Increasing Volumes of Content in a Regulatory Environment
- Industry: Financial Services
- Technology: Vignette Records & Documents, Case Manager
Created from a merger of the Australian Stock Exchange and the Sydney Futures Exchange in 2006, the Australian Securities Exchange (ASX) is now one of the world's top ten listed exchange groups, measured by its market capitalization. Offering an integrated suite of products and services, ASX spans the markets for corporate control, capital formation and price discovery. It also functions as an operator, supervisor, central counterparty clearer and payment system facilitator.
The Challenge
ASX plays a critical role in ensuring that announcements made by ASX-listed entities are disseminated to the market in a timely and orderly manner. The daily load of these announcements has steadily increased, as well as the average document size and complexity. The Company Announcement Office's staff of seven processes more than 127,000 company announcements annually, more than double what was handled in 2001. The announcements, which come in a variety of formats, must be properly lodged in accordance with regulatory requirements. ASX wanted to be able to receive announcements via a number of entry points and once processed, be able to disseminate announcements via a single channel to data subscribers, as well as the ASX Web sites.
The Solution
After a lengthy RFP process, Vignette Records & Documents, Case Manager (VRD) was selected. The solution allows the management of all inbound announcements electronically. It enables quick review of each announcement, as well as routing via a number of complex work-flow rules to meet compliance. The system then is used to distribute announcements to the market across multiple channels in a timely manner and in a consistent format.
The Results
The Company Announcement Processing Department is able to handle a growing number of documents and will be able to grow with the new system. Additionally, the growing complexity of document types, formats and size is handled in a highly efficient manner. With VRD in place, the ASX is able to handle the expected increase in volume, while meeting its mandate for consistent, concurrent delivery of announcements across multiple channels.
Full Story
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Customer Story: The Australian Securities Exchange |