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The Johannesburg Stock Exchange (JSE) has selected Cinnober’s TRADExpress RealTime Clearing system as the basis of a new multi-asset clearing technology platform that JSE and Cinnober will develop together. Currently, the JSE uses different clearing technologies for different asset classes.
The new multi-asset platform will phase out the current clearing technology at the JSE in support of the JSE’s strategic focus on integrated clearing and settlement, the exchange says in a statement.
Cinnober officials note that it has “large integration projects underway” with LME Clear, the London Metal Exchange’s clearinghouse, slated to launch in September, and the Brazilian BM&FBOVESPA, which characterizes itself as the largest exchange in Latin America.
“The project we are embarking on seeks to process all asset classes from all markets on a single integrated solution and will enable our strategy for growth,” Riaan van Wamelen, JSE’s chief information officer, says in a statement.
The JSE-Cinnober partnership is a “major milestone for Cinnober,” Veronica Augustsson, its CEO, says in the statement. “JSE is an important national exchange with significant influence in the region.”
Cinnober’s other clients include Dubai Gold & Commodities Exchange, Quadriserv, MarkitSERV and the Stock Exchange of Thailand.
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- Johannesburg Stock Exchange
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