Future trading in Singapore is now migrating to the cloud, with Orient Futures Singapore looking to lead.
The futures trading company recently announced that it is banking on Snowflake to build out its cloud-based and open architecture trading while improving trading efficiency and customer convenience.
Specifically, Orient Futures Singapore uses Snowflake’s Data Cloud to create personalized portfolio allocation and modeling services. It also hopes to enable smarter management of customer risk profiles using data analytics and back-test historical data insights for improving customer decision-making.
“We chose Snowflake because of their expertise and familiarity with local regulatory systems in Singapore as well as their 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," said Philip Huang, head of risk management at Orient Futures Singapore.
The move brings Orient Futures Singapore a step closer to its vision as a “broker of the future” by driving a data-driven culture.
Snowflake's inbuilt security and governed scalability were crucial reasons for the selection. Orient Futures Singapore said these features matter when consolidating all its data into a single, centralized platform.
“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,” said Huang.
Another reason for choosing Snowflake is its performance. According to a press release, the high-performance cloud allows Orient Futures Singapore’s employees to easily prepare, transform, and compute data for business analysis.
Collaboration is also improved. The company noted that the various departments can now easily access near-real-time insights via self-service for faster business decisions.
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