The Johannesburg Stock Exchange (JSE) will start phasing out its current technology in favour of a new multi-asset integrated clearing technology platform.
The JSE, which currently uses different clearing technologies for different asset classes, has partnered with financial technology supplier Cinnober to implement the high-performance TRADExpress RealTime Clearing system.
“The project we are embarking on seeks to process all asset classes from all markets on a single integrated solution and will enable our strategy for growth,” explained JSE chief information officer Riaan van Wamelen in a statement on Wednesday.
The sophisticated system boasted the speed and capacity to handle large transaction volumes, while meeting the varied needs of demanding market places, he added.
“This is a major milestone for Cinnober and we are proud that the largest African marketplace has signed up [to use] our integrated clearing platform for their complete suite of six asset classes,” said Cinnober CEO Veronica Augustsson.