Snowflake partners with iSTOX, a next-generation private capital markets platform, to provide a secure and reliable environment to investors
Jul 06, 2020
Singapore, 6 July 2020 – Snowflake, the cloud data platform, today announced a partnership with ICHX Tech Pte Ltd, operator of the next-generation capital markets platform, iSTOX (“iSTOX”). Under the new partnership, iSTOX will utilise Snowflake’s Cloud Data Platform to provide a secure and reliable data environment as well as real-time insights to enhance each customer’s experience.
“Through distributed ledger technology (DLT), iSTOX’s vision is for investors to have greater accessibility to investment opportunities which are otherwise out of reach. Partnering with Snowflake enhances our platform capabilities and supports our push to increase access to private market issuance and trading by accredited investors,” said Darius Liu, Co-Founder and Chief Operating Officer of iSTOX.
iSTOX, a pioneer in the fintech industry across Southeast Asia, is the first regulated private capital markets platform in any major financial centre to support the one-stop issuance, custody and secondary trading of digitised securities. iSTOX is licensed and regulated by the Monetary Authority of Singapore, and its key investors include Singapore Exchange (SGX); Heliconia (a subsidiary of Temasek Holdings); Japan’s Tokai Tokyo Financial Holdings (via subsidiary Tokai Tokyo Global Investments); Thailand’s Kiatnakin Phatra Financial Group; and South Korea’s Hanwha Asset Management.
The issuing of private securities has been an archaic and fragmented process even up till now. To keep up with the ever-changing technological and economic landscape, iSTOX needed to store their data in a highly reliable and secure cloud data platform that offers maximum security and performance, and is fully compliant with SOC1 and SOC2 type 2 standards. iSTOX selected Snowflake after a rigorous security assessment process and has now deployed it across their data warehouse, data lake and data engineering workloads.
“Keeping our customer data secure is of utmost importance for iSTOX. Snowflake has shown that from a single platform, they can provide us with security, reliability, and governed scalability. The Snowflake Cloud Data Platform allows us to scale out our data warehouse and computing capacity with maximum security and performance, catering to our business growth,” added Christian Fischer, Head of Technology, iSTOX.
Satchit Joglekar, Snowflake’s Sales Director for Southeast Asia said, “I am excited by our partnership with iSTOX. The combination of our unique capabilities and our understanding of their technological needs are critical in making this partnership a success. We are proud to be partnering with an innovative player and pioneer in the capital markets sector.”
“The fintech market, where data security and regulations are paramount, is an exciting space to work in,” said Geoff Soon, Snowflake’s Managing Director for South Asia. “We are delighted to be supporting iSTOX in providing a safe, secure and reliable platform to help redefine the capital markets industry in this region.”
iSTOX is a future-ready capital markets platform set to usher in a new era for capital fundraising and investment. Through the use of Digitized Security Offerings, iSTOX offers a more innovative, flexible, inclusive, and efficient system for an emerging generation of investors and issuers. As part of its mission, iSTOX seeks to enable all users to transact precisely as and how they like and extends capital markets access to a wider segment of the community. iSTOX is owned by ICHX. For more information, visit www.iSTOX.com
Snowflake Cloud Data Platform shatters the barriers that have prevented organisations of all sizes from unleashing the true value from their data. Thousands of customers deploy Snowflake to advance their businesses beyond what was once possible by deriving all the insights from all their data by all their business users. Snowflake equips organisations with a single, integrated platform that offers the data warehouse built for the cloud; instant, secure and governed access to their entire network of data; and a core architecture to enable many types of data workloads, including a single platform for developing modern data applications. For more information about Snowflake, visit: https://www.snowflake.com/
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