Johannesburg Stock Exchange migrates Equity and FX Derivatives to LSEG Technology platform

Tuesday, 18 June 2019 00:03 - - {{hitsCtrl.values.hits}}

Members of the LSEG Technology team responsible for the successful delivery of the project

LSEG Technology, part of London Stock Exchange Group, has announced that the Johannesburg Stock Exchange (JSE) has successfully gone live with Equity and FX Derivatives on Millennium ExchangeTM and Millennium Surveillance.

This project entailed a major upgrade to the existing equity market whilst on-boarding both the Equity Derivatives Market (EDM) and the Foreign Exchange Derivatives Market (FXM).

The new release covers all derivatives asset classes with the ability for JSE to extend to other products in future. The platforms contain a rich set of features specifically tailored to support the derivatives market, including implied-order trading, a host of multi-legged trading strategies and options theoretical pricing. These are supported by real time cross-asset class monitoring in Millennium Surveillance.

This go-live is an indication of the scalability of LSEG Technology’s solutions to support multiple asset classes and different market structures on a single platform, thereby bringing in operational efficiencies to both users and the wider market.

JSE Chief Executive Officer Nicky Newton-King said: “The successful launch, of what has been part of a multi-year project, enables our products to trade on robust technology using world class functionality, which we expect will enable our clients to lower their costs of trading. The move aligns JSE to global best practices and strengthens our position as a global market player, providing more stable and efficient services to our clients. This has been a long journey and I want to express my gratitude to all our clients for their exceptional commitment to getting here with us.”

LSEG Technology CIO Ann Neidenbach said, “I’m delighted that we have delivered a multi-asset class trading platform for JSE.LSEG Technology and JSE have worked closely to successfully implement the new derivatives platform, initially for equity and FX derivatives, bringing the technology infrastructure onto the same common platform as their cash equities markets.

The successful migration of equity and foreign exchange derivatives trading onto Millennium Exchange will deliver operational efficiencies and greater functionality to users across markets.

Through our collaboration with JSE we continue to bring innovation and technology improvements to South Africa’s trading community and LSEG is pleased to have extended our long-term relationship with JSE.”LSEG Technology delivers robust, scalable, high-performance technology including broker, exchange, market data, risk management, surveillance, clearing and settlement products to customers around the world.

LSEG Technology’s market-leading trading and post-trade products, empowered with key patented technology, helps improve operational efficiencies for over 40 financial market infrastructure and financial services firms, which include London Stock Exchange Group markets (London Stock Exchange, Borsa Italiana, Turquoise), HKEX, Johannesburg Stock Exchange, Singapore Exchange and other markets worldwide.