23 October 2016
Find out more

JSE chooses integrated clearing technology from Cinnober

23 April 2014  |  1382 views  |  0 Source: 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.

Comments: (0)

Comment on this story (membership required)

Related company news


Related blogs

Create a blog about this story (membership required)
Visit www.dh.comFind out moreVisit VocaLink.com

Top topics

Most viewed Most shared
The bank of the future will be invisible - KPMGThe bank of the future will be invisible -...
34519 views comments | 124 tweets | 227 linkedin
New EU rules could cost UK firms £122bn in cybersecurity fines - PCI SSCNew EU rules could cost UK firms £122...
10734 views comments | 31 tweets | 37 linkedin
Barclays and Citi test blockchain tech for equity swaps processingBarclays and Citi test blockchain tech for...
8488 views comments | 26 tweets | 19 linkedin
ING takes fintech startup route to UK relaunchING takes fintech startup route to UK rela...
7006 views comments | 29 tweets | 22 linkedin
Indian banks hit by massive ATM breachIndian banks hit by massive ATM breach
6640 views comments | 16 tweets | 25 linkedin

Featured job

Find your next job