The Johannesburg Stock Exchange (JSE), as per recent reports this week, has announced the launch of a new real-time clearing platform from Nasdaq for its Equity Derivatives & Currency Derivatives market.
With this move, JSE sees to migrate the first asset classes onto the platform, as part of its initial phase of a multi-year project, ITaC. Furthermore, JSE will be migrating all its markets to the clearing solution, aiming to achieve a more efficient collateral utilization, intra-day risk monitoring, and improved margin transparency.
Nicky Newton-King, CEO, JSE states, “The launch of our new clearing platform is an important milestone in our aim to align ourselves with global best practices using a state of the art, multi-product technology solution.” Adding further, she says, “Technology has become vital for clearinghouses in offering services that stand up to market participants’ and regulators’ demands on robust risk management, transparency and efficiency.”
Michèle Carlsson, Managing Director & Head of Business Development – Middle East & Africa at Nasdaq, says “JSE’s scalable and highly robust clearing solution makes them set for continued growth, innovative product development and compliance with evolving regulatory requirements.”
With this new clearing platform, JSE joins the community of over 250 market infrastructure organizations and market participants across over 50 countries that employ Nasdaq’s market technology.