Publications
Partners
Johannesburg - The JSE Ltd [JSE:JSE] is getting a new trading system that will make equity market transactions 400 times faster.
"The migration is planned for the first half of 2012 and it is expected that JSE members will benefit from executing transactions almost 400 times faster than the present trading solution," the JSE said on Thursday.
The JSE will move its equity market trading activity - the buying and selling of company shares - onto a system called Millennium Exchange.
The new system will operate from Johannesburg, instead of London where it is currently based.
There had been a "handful" of incidents during which the JSE had to stop trading due to problems with "international connectivity".
"By moving the engine to Johannesburg, we eliminate this problem and are able to offer our clients improved service availability and stability,” said Leanne Parsons, JSE chief operating officer and head of the equity market.
The system is expected to increase equity volumes traded on the JSE and therefore liquidity.
“In our experience, whenever we take a step forward with our trading technology, trading volumes also follow," said Parsons.
"If we want to remain a world class and relevant exchange in a highly competitive industry, we must remain abreast of technological advances.”
Millennium Exchange is the "flagship product" of MillenniumIT, which creates technology solutions for capital markets, has headquarters in Colombo, Sri Lanka, and is a wholly-owned subsidiary of the London Stock Exchange Group.
"The migration is planned for the first half of 2012 and it is expected that JSE members will benefit from executing transactions almost 400 times faster than the present trading solution," the JSE said on Thursday.
The JSE will move its equity market trading activity - the buying and selling of company shares - onto a system called Millennium Exchange.
The new system will operate from Johannesburg, instead of London where it is currently based.
There had been a "handful" of incidents during which the JSE had to stop trading due to problems with "international connectivity".
"By moving the engine to Johannesburg, we eliminate this problem and are able to offer our clients improved service availability and stability,” said Leanne Parsons, JSE chief operating officer and head of the equity market.
The system is expected to increase equity volumes traded on the JSE and therefore liquidity.
“In our experience, whenever we take a step forward with our trading technology, trading volumes also follow," said Parsons.
"If we want to remain a world class and relevant exchange in a highly competitive industry, we must remain abreast of technological advances.”
Millennium Exchange is the "flagship product" of MillenniumIT, which creates technology solutions for capital markets, has headquarters in Colombo, Sri Lanka, and is a wholly-owned subsidiary of the London Stock Exchange Group.
