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BYMA Modernizes Argentina Stock Exchange Services with Cloud and Data Strategy

The customer

BYMA, Argentina’s Stock Exchange, intelligently combines markets and technology to turn investment into growth and development. With a comprehensive state-of-the-art technological platform that ensures quality and security standards for their users when they operate the world’s main stock markets, BYMA offers secure and transparent access to the world of investments, both to institutions, companies and the general public. BYMA is the evolution of the Argentine capital market, combining liquidity, knowledge and professionalism to face the challenges and demands of today’s world, transforming investments in work and development for the country into an area of good corporate governance practices.

BYMA encompasses all aspects of the Argentine capital market industry, based on a vertical integration that includes listing, negotiation, registration, settlement, custody with central deposit, payment of creditors, access to holdings, and other pre- and post-trade services.

The challenge

In order to strengthen our data architecture and promote a data-driven culture, BYMA embarked in a cloud transformation journey where the first crucial step was implementing a data lake in the Amazon Web Services (AWS) cloud. This strategic project marked a milestone in BYMA’s journey towards value analytics and the generation of meaningful insights to drive business growth.

Faced with the need to efficiently consolidate and manage large volumes of dispersed data, we identified the implementation of a Data Lake as the optimal solution. This project not only sought to centralize our data, but also to lay the solid foundation for future analytics initiatives.

The solution

Choice of Strategic Partner: Netrix

To ensure the success of our implementation, BYMA chose to partner with Netrix Global because of their breadth of knowledge and expertise in cloud solutions and data analytics. Netrix’s track record and relevant AWS competencies ensured an expert approach and efficient execution.

BYMA was looking not only for technical expertise but also a partner that would support their strategic efforts to achieve business outcomes. Netrix supported BYMA with architectural design and implementation, relying on a team of highly capable technicians, engineers and data scientists which proved to be trustworthy from day one.

Step-by-step Transformation

1. Data Strategy and Architecture Design:

In collaboration with Netrix Global, BYMA conducted an assessment of the project’s starting point, defined the strategy and developed a robust architecture plan that addressed their specific needs. A scalable and secure scheme was designed on AWS, ensuring operational efficiency and the ability to adapt to future requirements.

2. Intakes, transformations and analyses

The process of data ingestion of main business data to the new data lake needed to ensure the integrity, governance and quality of the data.

Data is made available for internal use through different analytics tools and a Netrix developed a custom machine learning model to address further business needs.

3. Integration with Nasdaq:

BYMA’s robust data lake was successfully integrated with Nasdaq’s custody system in a historical step for BYMA’s growth. Not only did this integration allow multiple systems to start consuming data from the cloud; it also facilitated the availability of critical information for our operations following leading market standards.

The implementation of the solution in the cloud was a novelty for BYMA’s teams as they implemented infrastructure as code for the first time, allowing them to change at a cultural and technological level. This came hand-in-hand with learning about new technologies and it entailed closed collaboration, communication and teamwork to embrace the new data standards and technology. The solution also helped BYMA to reduce infrastructure costs and increase development speed, a fundamental need in the ever-changing industry of stock services.

The Results

1. Data-Driven Culture:
The implementation of the Data Lake was a fundamental milestone in order to fulfill one of BYMA’s main objectives: to foster a data-driven culture. Now, every decision is based on robust data and accurate analytics, driving efficiency and informed decision-making.
2. Generating Insights for the Business:
With the data lake fully operational, BYMA is able to extract valuable insights that have contributed significantly to their strategic goals.
3. Successful Integration with Nasdaq:
The integration with Nasdaq’s custody system was a success, improving the reliability and security of critical market and user data, as well as establishing a direct connection with a major player in the financial market.
4. Availability of Data for Internal Use:
Now, data is readily available for internal use, allowing teams to access the necessary information quickly and efficiently, driving the agility in their teams.

The successful implementation of the data lake on AWS with the help of Netrix Global has laid the foundation for BYMA’s data architecture, providing a robust platform for future analytics initiatives. This project has elevated the organization’s ability to harness the power of data and laid a solid foundation for future growth. With Netrix as their trusted advisor, BYMA has proven that strategic collaboration is key to success in the complex world of cloud, data management and analytics.

Looking ahead, BYMA aims to continuously generate valuable insights for the business, adapt and adopt new technologies to their stack to find opportunities to add value to our customers, and continue to foster a data driven culture across all of BYMA’s teams and business units.

Experience The Impact

No matter what challenge you’re facing today, our team of technical experts can get you started on a path to a better solution. We’ll partner with you to: 

  • Understand your current technology environment
  • Interview key stakeholders to understand the root of the business issue(s)
  • Propose a solution with projected timelines, budget, and dependencies