Johannesburg Stock Exchange chooses Fixnetix for UK PoP

Source: Fixnetix

The Johannesburg Stock Exchange (JSE) and Fixnetix announced today that the exchange has chosen Fixnetix as the provider of the JSE's point of presence (PoP) in the UK, giving global investors easier access to the JSEs markets.

Initially, access to the JSE's Equity Market Customer Testing Service and real time data services will be available via the JSE PoP provided by Fixnetix in the Equinix datacentre, LD4, in Slough. The UK PoP will be extended to include trading of JSE equities and this agreement could be expanded to include access to other JSE markets.

Currently, investor orders on the JSE equity market are placed in Johannesburg, routed via international links to the JSE TradElect platform hosted by the London Stock Exchange where the trade is matched, and results are rerouted back to South Africa. At initial launch in 2002, this system was viewed as innovative and a world-class solution. Changing investor needs have prompted a relook at JSE systems. The 2012 migration to a new equities trading system and the relocation of the new system to Johannesburg, now combined with the provision by Fixnetix of a PoP in London for offshore clients and a focus on latency reduction, enhances the exchange's offering for investors worldwide.

With the addition of JSE, Fixnetix now offers 79 markets on an ultra-low latency framework to clients wanting trading, market data and risk control services. This relationship is significant and timely as it marks the predicted momentum for high performance direct connectivity to the emerging markets. Access to the JSE Test Services will start in early 2012 with live real time data available in production when the new system is implemented in the middle of next year.

"Fixnetix is pleased to be appointed provider of market access for data and trading in the UK for the Johannesburg Stock Exchange," says Paul Ellis, Chief Operating Officer and co-founder of Fixnetix. "To be strategically chosen by the JSE is a direct endorsement of the operational capability and reliability of Fixnetix."

The JSE is the only stock exchange in South Africa offering markets in equities, equity derivatives, commodity derivatives, currency derivativeses and interest rate instruments.

"Ultimately, the agreement with Fixnetix and the new trading system will offer improved access to the JSE markets and may play a role in the JSE competing for trading volumes," says Head of Equities Trading Leanne Parsons. "In future, the JSE may also offer clients the ability to connect to other networks and PoPs, making it even easier for offshore clients to trade on the JSE." 

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