JSE lauds zero trading outages
The Johannesburg Stock Exchange (JSE) says that in the year since launch of the new equity trading platform Millennium Exchange, it has seen zero trading outages, something which previously troubled to group in 2010, and 2011.
On 2 July 2012, the JSE moved its trading platform from London, where it had been situated for ten years, to the JSE building.
The platform is now housed within the group’s data centre based on Tier 3 specifications and is designed to ensure 99.98% availability.
It was developed by technology solutions provider, MillenniumIT.
“The immediate benefit for members was execution speeds almost 400 times faster than the previous trading solution and the move back to Johannesburg has allowed for greater operational stability and zero trading outages,” the JSE said.
“The JSE’s move to the new equity system, completed on time and within budget, is a major achievement for our market. This success can be attributed to the hard work and collaboration between the exchange and its members,” said Leanne Parson, Director of the JSE’s Equity Market.
Parsons notes that since the implementation, the number of trades is up 57%, volumes by 4%, and value of trades by 21%.
After a volatile period in South African markets, JSE trading figures indicate that since July 2, 2012, 35 million trades have been processed with a record number of 290,259 trades executed on Friday 31 May 2013. “The system handled these record trades seamlessly,” said Parsons.
The first year on the new system has seen 1.4 billion orders and 2.5 billion market data messages processed whilst maintaining 100% uptime.
“The implementation of the MIT platform has manifested the following for our business: enhanced latency, significantly less downtime and, most importantly, better pricing for our clients,” said Simon Fillmore, CEO of Independent Securities, a JSE member firm.
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