JSE migrates equity and currency derivative markets to new trading and clearing technology

Published by: The WFE Focus Team Jun 2019

The Johannesburg Stock Exchange (JSE), Africa’s largest, multi-asset class stock exchange, has launched a new integrated trading and clearing solution that has seen its Equity and Currency Derivatives markets migrating to a new trading, clearing and surveillance system. This new solution aims to ensure better integration and cross-market harmonisation across its derivative and equity markets.

The move aligns the stock exchange to global best practice and strengthens the JSE’s position as a global market player, providing more stable and efficient trading and clearing services to its clients. The introduction of the new technology will lead to greater cross-market harmonisation and a swifter, world-class technology platform.

The JSE now operates an integrated environment which allows for centralised risk management, efficient utilisation of assets and clearing efficiency. The JSE has enabled trading in all derivatives and cash bond markets being migrated to the MilleniumIT trading platform, while for clearing, all markets migrated to the new Cinnober real-time clearing solution. This technology enhancement will further drive efficiencies and integration across markets to better service the needs of JSE clients.

Nicky Newton-King, CEO, JSE, commented on the new integration saying: "The successful launch of what has been a multi-year project enables our products to trade on robust technology using world class functionality and risk management techniques which we expect will enable our clients to lower their end to end cost of trading those products. This has been a long journey and I want to express my gratitude to all our clients for their exceptional commitment to getting here with us.”