JSE chooses integrated clearing technology from Cinnober
The Johannesburg Stock Exchange (JSE) has selected Cinnober as its partner for the development of a new multi-asset clearing technology platform.
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.
For further information or discussion, please contact:
Head of Corporate Communications
Cinnober Financial Technology
Tel. +46-73 403 12 39
Head of Group Communications
Tel. +27 11 5207080
About the JSE
The Johannesburg Stock Exchange is based in South Africa where it has operated as a market place for the trading of financial products for 125 years. It connects buyers and sellers in equity, derivative and debt markets. The JSE is one of the top 20 exchanges in the world in terms of market capitalization and is a member of the World Federation of Exchanges (WFE). The JSE offers a fully electronic, efficient, secure market with world class regulation, trading and clearing systems, settlement assurance and risk management. www.jse.co.za
About Cinnober Financial Technology
Cinnober provides solutions and services to leading trading and clearing venues, including exchanges, clearinghouses, banks and brokers. Cinnober’s solutions are largely based on the TRADExpress™ Platform, incorporating everything needed for mission-critical solutions in terms of performance, robustness and flexibility. The portfolio of offerings includes price discovery and matching, real-time risk management, clearing and settlement, index calculation, data distribution and surveillance. Cinnober’s customers include BM&FBOVESPA, Deutsche Börse, Dubai Gold & Commodities Exchange, Eurex, London Metal Exchange, LME Clear, Markit BOAT, MarkitSERV, NYSE Liffe and Stock Exchange of Thailand. For additional information, please visit www.cinnober.com