Overview

pTMX Group, a leading financial services company that owns and operates stock exchanges in Canada, adopted an enterprise-wide data strategy with the goal of leveraging data as an asset to improve decision-making, drive business value and enable growth. In order to align with the enterprise-wide data strategy, TMX wanted to build an internal data marketplace that would service as the single source of truth for all of TMX’s internal data needs. /p

Supernova Award Category

Data to Decisions

The Problem

pTMX wanted to build their data marketplace on top of a flexible and scalable data lake on AWS with centralized governance, management, self-service access and monitoring capabilities. They also needed to ensure multi-tenancy was provided giving each tenant the flexibility of the cloud's auto scaling capability. The company ran into technical challenges trying to integrate several 3rd party technologies and validate their AWS stack. Additionally, there were challenges trying to ingest and transform data streams since they had a large variety of file formats./p

The Solution

pThe Zaloni Data Platform (ZDP) on AWS provided end-to-end data management and governance while providing self-service access to data scientists and business users through a single unified platform. Additionally, ZDP provided automated data ingestion; metadata management; data governance such as lineage, data quality and privacy and security; and data lifecycle management to manage the data lake from an operational point of view./p

The results

pZDP has allowed the company to centrally manage an AWS data lake that delivers trusted data to analysts and data scientists through a self-service data marketplace. These end users have broader, yet controlled access to data and the ability to provision data to an analytics sandbox, a data visualization tool or a business application allowing them to quickly analyze data to uncover new revenue streams and monetize their proprietary data, ultimately increasing shareholder value./p

Metrics

pOur strategic intent to treating data as an enterprise asset and unlocking the value of data came to realization with the implementation of the ZDP solution. The solution enabled the organization to focus on its data assets based on its monetization value through further augmentation of proprietary data with global market data. This enabled the organization towards building out the organization's first data science advanced analytics product called “Grapevine”. The product now helps onboard new clients to improve decision-making and solve for various use cases around Compliance, Trade strategies, TCA and Data science exploration./p

The Technology

pThe Zaloni Data Platform (ZDP) is an award-winning data platform that provides the capabilities required for data management and governance to deliver a production-ready data lake that can be deployed in hybrid, cloud or multi-cloud environments. The platform operationalizes data management and eliminates data silos for centralized management of all enterprise data sources. ZDP provides business users self-service access to trusted data, delivering fast time-to-value at scale. /p

Disruptive Factor

pBusiness stakeholder buy in was an initial challenge and having them adopt new ways to access data for analytics and other use cases required some effort. TMX identified a few early adopters/champions and demonstrated success with their use cases. Then a plan was created for awareness and education of the teams, getting them excited with the possibilities of an agile data platform. Executive support was critical in making this initiaitve successful./p

Shining Moment

pWe were able to make dark data accessbile through this platform – data previously was not available easily as it was archived in tapes and required an elaborate process to restore. This opens up new possibilities with use cases of using historical market data that TMX has created over the years./p