The Johannesburg Stock Exchange (JSE), Africa\u2019s largest bourse, said it\u2019s working with Amazon Web Services to overhaul its over 30-year-old broker-dealer administration system.<\/p>\n\n\n\n
JSE CEO Leila Fourie said the deal is a step toward partnering with a company that\u2019s collaborating with some of the world\u2019s biggest stock markets, such as the US\u2019s Nasdaq and the London Stock Exchange.<\/p>\n\n\n\n
\u201cThis is the first stage in this relationship,\u201d Fourie said in an interview on Monday. \u201cWe are of course, in discussions with them on other potential solutions.\u201d<\/p>\n\n\n\n
The deal, Fourie said, is part of a strategy to form technology partnerships, which have included setting up a carbon-trading market and a private placement platform as the exchange tries to make itself more competitive and to capture more business from other African countries.<\/p>\n\n\n\n
\u201cWe have to modernise our technology,\u201d she said. \u201cWe feel that building new solutions from the ground up is slow and lumbering, and we want to be agile.\u201d<\/p>\n\n\n\n
The JSE gained as much as 5% in Johannesburg, the most since 23 August, after the company said annual net income rose 11%.<\/p>\n\n\n\n
Operating income grew by 6.9% to R2.9 billion, supported by a 15.6% increase in revenue from Information Services and a 20.2% increase in revenue from JSE Investor Services.<\/p>\n\n\n\n
In line with its strategy, the group also increased its proportion of revenue derived from non-trading activity, totalling R954 million.<\/p>\n\n\n\n
\u201cWe continue to invest in defending our core trading activity while building new services across asset classes and in private capital raising, Information Services and JSE Investor Services.<\/p>\n\n\n\n
“This enabled non-trading income to increase to 36.8% (2022: 34.6%) of operating income in line with our long-term strategy,\u201d said Fourie.<\/p>\n\n\n\n
\u201cWe launched new partnerships to enable us to rapidly innovate in data services, private markets, carbon trading and a modernisation of our broker-dealer accounting (BDA) system, which will ensure the JSE maintains its leading position among emerging market exchange operators,\u201d she added.<\/p>\n\n\n\n