SA's securities depository and electronic settlement system, Strate, already accounts for 25% of all message traffic in SA in category five on the Society for Worldwide Interbank Financial Telecommunications' (Swift's) network.
This is despite the fact that only about half of the JSE's listed counters have entered the electronic settlement environment.
Category five comprises securities-related messages.
"The most remarkable aspect of these statistics is that the counters that have thus far moved across to Strate are relatively illiquid," says Strate CEO Monica Singer.
With 8 000 messages daily, Strate is SA's second-largest sender of category five messages, and, with all categories included is the third-largest sender of Swift messages in SA.
Strate also ranks 139 on Swift's top 200 list of 7 200 global customers.
Singer says she expects Strate's Swift volumes to rise "dramatically" when the JSE's more liquid counters migrate to the electronic settlement environment. Strate will comfortably rank among the top 100 of Swift's global customers, she says.
Swift, an industry-owned co-operative supplying secure messaging services and interface software to 7 200 financial institutions in 192 countries, carried 1.2 billion messages in 2000.
Related stories:
Strate to migrate to own mainframe
Share