Johannesburg Stock Exchange selects MillenniumIT trading solution
- JSE extends use of Millennium Exchange™ trading platform and Millennium Surveillance™ beyond equities into derivatives and fixed income markets
- Technology underpinned by Millennium Advanced Platform™ (MAP)
- JSE becomes first African exchange to use MillenniumIT’s technology for derivatives
MillenniumIT, the provider of ultra-low latency and resilient capital markets solutions and part of London Stock Exchange Group, today announced that Johannesburg Stock Exchange (JSE) has selected MillenniumIT to provide the technology for its derivatives and fixed income markets. The move will extend JSE’s use of MillenniumIT’s next generation integration platform (MAP™), the Millennium Exchange™ trading platform and Millennium Surveillance™ products beyond equities, providing an integrated multi-market and ultra-low latency solution in support of the JSE’s strategic objective of integrated trading and clearing.
MillenniumIT’s integrated technology will be rolled out across JSE’s derivatives and fixed income markets: equity derivatives, currency derivatives, commodity derivatives, bonds and bond derivatives. The exchange-wide project to move all asset-classes onto MillenniumIT’s technology platform and surveillance solution will take a phased approach. Phase one will migrate JSE’s equity derivatives and currency derivatives markets onto MillenniumIT’s solution, with the integration of the remaining markets in subsequent phases.
Mack Gill, CEO, MillenniumIT, said:
“We have established a long-standing successful partnership with JSE, having initially been tasked with improving efficiencies and reducing latency in their core equities market. We’re delighted to extend our relationship with this dynamic international exchange into six additional markets, helping streamline their trading infrastructure and maintain their market integrity across fixed income and derivatives. This demonstrates MillenniumIT’s ability to deliver ultra-low latency, agile trading technology across asset class, highlighting the strength of our complete suite of products”.
Leanne Parsons, Director of Trading and Market Services, Johannesburg Stock Exchange, added: “As the largest exchange on the African continent, and one of the top twenty largest exchanges in the world in market cap terms, JSE has seen significant growth over recent years. The efficiencies, scalability and risk management gains we achieved in our equities markets when we moved our technology infrastructure onto MillenniumIT’s platform in 2012 was outstanding: our member firms benefited from executing trades up to 400 times faster than previously. Since then, MillenniumIT has helped us to further improve our latency with a co-location facility. It made absolute sense for us to extend these benefits to markets across our entire exchange with a best-of-breed approach from MillenniumIT.”
LSEG has had a long-term collaboration with JSE, through its global leading index business, FTSE Russell. FTSE’s long-term partnership with JSE through calculation of the FTSE/JSE Africa Index Series was recently extended to include the development of an innovative new environmental, social and governance (ESG) index series.
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Notes to editors:
MillenniumIT is the power behind many of the world’s financial markets. MillenniumIT pre- to post-trade, multi-asset, ultra-low latency, agile technology infrastructure supports the trade lifecycle for more than 40 financial institutions and financial services firms around the world.
The MillenniumIT solution suite includes ultra-low latency trading platform Millennium Exchange™, the Millennium SOR™ smart order router; Millennium MarketData™, Millennium Surveillance™, and the integrated clearing, settlement and depository solution Millennium PostTrade™. Underpinning all of these solutions and providing the core integration layer is the Millennium Advanced Platform™ (MAP™).
Clients include Borsa Italiana, HKEx, Johannesburg Stock Exchange, London Metal Exchange, London Stock Exchange Group, Singapore Exchange, Toronto Stock Exchange, Tullett Prebon and Turquoise.
Founded in 1996 and head-quartered in Sri Lanka, MillenniumIT is a fully-owned subsidiary of the London Stock Exchange Group. For more information, visit www.millenniumit.com.
About London Stock Exchange Group:
London Stock Exchange Group (LSE.L) is a diversified international market infrastructure and capital markets business sitting at the heart of the world's financial community. The Group can trace its history back to 1698.
The Group operates a broad range of international equity, bond and derivatives markets, including London Stock Exchange; Borsa Italiana; MTS, Europe's leading fixed income market; and Turquoise, a pan-European equities MTF. It is also home to one of the world’s leading growth markets for SMEs, AIM. Through its platforms, the Group offers international business and investors’ unrivalled access to Europe's capital markets.
Post trade and risk management services are a significant part of the Group’s business operations. In addition to majority ownership of multi-asset global CCP operator, LCH.Clearnet Group, LSEG operates CC&G, the Italian clearing house; Monte Titoli, the T2S-ready European settlement business; and globeSettle, the Group’s newly established CSD based in Luxembourg.
The Group is a global leader in indexing and analytic solutions. FTSE and Russell Indexes offer thousands of indices that measure and benchmark markets around the world. The Group also provides customers with an extensive range of real time and reference data products, including SEDOL, UnaVista, Proquote and RNS.
Following the acquisition of Russell Investments, LSEG conducted a comprehensive review of the investment management business to analyse its strategic fit with the Group. This was concluded in February 2015, and LSEG is now exploring a sale of the business in its entirety.
London Stock Exchange Group is a leading developer of high performance trading platforms and capital markets software for customers around the world. In addition to the Group’s own markets, over 35 other organisations and exchanges use the Group’s MillenniumIT trading, surveillance and post trade technology.
Headquartered in London, with significant operations in North America, Italy, France and Sri Lanka, the Group employs approximately 4,700 people.
Further information on London Stock Exchange Group can be found at www.lseg.com.