New lease of life for Johannesburg Stock Exchange
The Johannesburg Stock Exchange (JSE) celebrates the start of a new
era for its equity market yesterday with the launch of equity trading
platform Millennium Exchange ÓVerdana developed by technology solutions
provider MillenniumIT. The day also marks the moving of the platform
from London, where the trading engine has been situated for 10 years, to
the JSE building in Johannesburg. These changes are aimed at enhancing
operational efficiencies for market participants, who are expected to
benefit from executing transactions almost 400 times faster than the
present trading solution.
The platform is housed within the JSE's recently completed new state
of the art data centre based on Tier 3 specifications and is designed to
ensure 99.98 percent availability.
The seamless migration from the previous TradElect platform follows
Borsa Italiana's identical switch last week. As with the JSE, this move
was successful and followed extensive testing and consultation with
stakeholders. Leanne Parsons, Director of the JSE's Equity Market, said:
"As we have seen with the Borsa Italiana migration last week and similar
migrations during the past year, the new platform provides exceptional
levels of performance, functionality and capacity. The JSE's move to the
new equity system, which we have nicknamed Project Jaya meaning
'victory' in the language of Sri Lanka, is a victory for the market.