Leading index compiler accelerates digital transformation with new, Google Cloud-powered indexing platform
Hang Seng Indexes Company and Google Cloud today announced that they have formed a partnership to accelerate Hang Seng Indexes Company’s technological transformation and service capabilities.
Hang Seng Indexes Company is the leading index compiler covering the Hong Kong and mainland China markets. Supported by decades of knowledge and experience, the company currently manages more than 1,600 real-time and daily indexes that provide valuable market information and play a crucial role in investor decision-making. As the digital era continues to transform the investment and financial landscape, Hang Seng Indexes Company is stepping up its digital transformation initiatives to elevate its technological capabilities and expand its services with the aim of establishing its position as a leading provider of data-driven, technology-enabled investment index services.
The partnership with Google Cloud supports this objective in several ways, including:
Scaling its index platform: Hang Seng Indexes Company will drive future business growth and new services development by operating its highly scalable index platform on Google Cloud.
Building new data capability: Hang Seng Indexes Company will establish its data backbone on Google Cloud, and apply Google’s market leading data analytics and artificial intelligence functions to power the rapid creation of new and innovative indexes.
Securing data distribution at scale and on-demand: As Hang Seng Indexes Company’s cloud provider, Google Cloud’s global network and its Hong Kong Cloud Region will enable Hang Seng Indexes Company to securely streamline its data management and dissemination business capabilities, so as to secure data distribution at scale and on-demand.
“Index businesses have been experiencing rapid growth and increasing significance due to the expansion of the market for ETFs and other index-linked investment vehicles. Hang Seng Indexes Company has been at the centre of this growth,” said Anita Mo, Chief Executive Officer of Hang Seng Indexes Company. “Our decision to advance our technical strategy on Google Cloud reflects our determination to be a client-centric, technology-enabled index company. Adopting the ‘cloud-first’ strategy is a major milestone that will help uplift our clients’ experiences and assist them in the formulation of their investment strategies.”
“Hang Seng Indexes Company is an important pillar of Hong Kong’s financial ecosystem, and financial institutions across the globe rely on the company for indexes to make investment decisions,” said Kathy Lee, managing director, Google Cloud in Greater China. “Working together, we will help spur Hang Seng Indexes Company’s data-driven innovation to accelerate its digital transformation, and deliver exceptional customer experience to meet the widening spectrum of investor demand for index investment solutions.”