Johannesburg Stock Exchange launches new clearing platform from Nasdaq
STOCKHOLM, Sweden and JOHANNESBURG, South Africa, May 15, 2019 (GLOBE NEWSWIRE) -- On April 29, the Johannesburg Stock Exchange (JSE) successfully went live with a new real-time clearing platform for the JSE’s Equity Derivatives and Currency Derivatives market.
The launch is part of a multi-year project known as ITaC focusing on migrating all the JSE’s markets to the new clearing solution, bringing a host of benefits to the market including more efficient collateral utilization, intra-day risk monitoring and improved margin transparency. The project is delivered in phases with the first asset classes to be migrated being Equity and Currency Derivative markets.
“The launch of our new clearing platform is an important milestone in our aim to align ourselves with global best practices using a state of the art, multi-product technology solution,” said JSE CEO, Nicky Newton-King. “Technology has become vital for clearinghouses in offering services that stand up to market participants’ and regulators’ demands on robust risk management, transparency and efficiency.”
“The Johannesburg Stock Exchange plays an important role as the leading African exchange and a prominent global player,” said Michèle Carlsson, Managing Director and Head of Business Development, Middle East and Africa at Nasdaq. “JSE’s scalable and highly robust clearing solution makes them set for continued growth, innovative product development and compliance with evolving regulatory requirements. We look forward to continuing our journey and long-term technology partnership with them.”
Nasdaq’s market technology powers more than 250 of the world’s market infrastructure organizations and market participants, including broker-dealers, exchanges, clearinghouses, central securities depositories and regulators, in over 50 countries with end-to-end, mission-critical technology solutions.
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 132 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) and holds the chairmanship of the Association of Futures Markets (AFM). 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
Nasdaq (Nasdaq: NDAQ ) is a leading global provider of trading, clearing, exchange technology, listing, information and public company services. Through its diverse portfolio of solutions, Nasdaq enables customers to plan, optimize and execute their business vision with confidence, using proven technologies that provide transparency and insight for navigating today’s global capital markets. As the creator of the world’s first electronic stock market, its technology powers more than 100 marketplaces in 50 countries, and 1 in 10 of the world’s securities transactions. Nasdaq is home to approximately 4,000 total listings with a market value of approximately $15 trillion. To learn more, visit: http://business.nasdaq.com.
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