The JSE, among the world’s top 20 exchanges in terms of market capitalization, currently uses different clearing technologies for different asset classes. The new multi-asset platform, based on Cinnober’s high-performance and well-proven TRADExpress RealTime Clearing system, will phase out the current clearing technology at the JSE in support of the JSE’s strategic focus on integrated clearing and settlement. With its speed and its capacity for handling very large transaction volumes, the system meets the varied needs of demanding market¬places, offering sophisticated functionality for clearing all exchange-traded asset classes.
“Modern clearing requirements and the evolving regulatory landscape result in significant technology demands for exchanges worldwide,” comments JSE’s CIO, Riaan van Wamelen. “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. We are excited to partner with Cinnober in order to prepare for the future.”
As a pioneer in developing real-time clearing systems, Cinnober has solid experience in delivering clearing solutions to leading exchanges and marketplaces around the world. Current large integration projects underway include LME Clear and the Brazilian BM&FBOVESPA.
“This is a major milestone for Cinnober and we’re very proud that the largest African marketplace has signed up for our integrated clearing platform for their complete suite of six asset classes,” says Cinnober’s CEO, Veronica Augustsson. “JSE is an important national exchange with significant influence in the region, and places high demands on modern technology with high quality and true real-time capacity.”
The JSE is Africa’s premier exchange with over 125 years of trading history. Over this period, the JSE has evolved from a traditional floor-based equities trading market to a modern securities exchange providing fully electronic trading, clearing and settlement in equities, financial, interest rate and commodity derivatives and bonds, as well as FX products. JSE Ltd, operator of the exchange, listed on its own Main Board in 2006.
Cinnober is an independent, world-leading supplier of financial technology to marketplaces and clearinghouses. The client list consists of major global players with extreme demands for reliability and performance, including names such as BM&FBOVESPA, Dubai Gold & Commodities Exchange, the London Metal Exchange, LME Clear, Quadriserv, MarkitSERV and the Stock Exchange of Thailand.