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Peresys deploys latest trading architecture in South Africa

24 July 2012  |  1766 views  |  0 Source: Iress

Iress, parent of Peresys and principal supplier of market information, trading and wealth management solutions for financial participants globally, has deployed its next generation trading architecture in South Africa.

The new, high performance trading architecture, which is available to both local and international broking clients, has been designed to take advantage of the physical relocation of the JSE matching engine from London, where it has been domiciled for a decade, to Johannesburg.

"Earlier in July, we successfully migrated Peresys Hermes users to the next generation platform, providing them with connectivity to the new JSE MIT equities platform," said Peresys CEO Ashley Mendelowitz. "This platform is based on the same IRESS technology already used by South African clients to access all South African derivatives markets. The relocation, coupled with the highperformance of the IRESS Peresys trading platform, translates to improved performance for local brokers."

Mr Mendelowitz said the Peresys Hermes implementation in this environment is a major milestone. "It marries Peresys with IRESS' trading solutions and infrastructure, providing scalability, resilience and access to the core IRESS technology used globally.

"IRESS and Peresys have built a strong reputation around providing hosted FIX order routing services to domestic and international buy and sell side participants and we have invested heavily in the recent 12 months to extend this high-performance managed environment in Johannesburg for sell-side trading infrastructure."

As part of the migration, 80% of Peresys' equities trading clients in South Africa have chosen IRESS' fully hosted and managed trading solution.

"The success of this project has showcased the passion, hard work and ability of a truly global team spanning Johannesburg, Melbourne and Cape Town," Mr Mendelowitz said. "We are proud of and delighted with what has been achieved, and also thankful to our loyal customers for their backing and involvement.

"Having smoothly transitioned to the fully managed trading environment, custom customers can now look forward to an even better experience on existing products, as well as being able to tap into the broader IRESS platform." 

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