South Africa's Johannesburg Securities Exchange (JSE) has signed a seven-year IT outsourcing contract with management consultancy Accenture.
Under the deal, Accenture will manage the Exchange's applications, infrastructure and services related to derivatives trading, equities and derivatives clearing, regulation and other business functions.
The Exchange already uses a hosted version of the LSE's Sets platform, which is operated by Accenture, and also recently signed up to Chicago-based Clearing Corporation's Internet-enabled onExchange Extensible Clearing System (ECS) to manage its equities and derivatives clearing processing.
Accenture has also won a separate two year contract with JSE to consolidate the exchange's current infrastructure and data architecture. JSE's mainframe reference data, information reporting, clearing, accounting and administration systems will be migrated to a new platform, which will be built from a combination of off-the-shelf technology packages and custom-built applications.
Leanne Parsons, COO, JSE, says the two initiatives are expected to reduce IT operating expenses by at least 10% a year.