The JSE yesterday went live with TradElect, the London Stock Exchange's (LSE's) next-generation trading system.
The adoption of the system was confirmed last month, when the bourses signed a formal contract extending their technology and business partnership for a further five years. The LSE has supplied the JSE with its trading system on an application service provider basis since May 2002.
Developed in Microsoft's C# programming language and based on the .Net framework, TradElect is expected to deliver high levels of performance and scalability, with reduced latency and increased capacity. The system has been designed to be resilient to hardware failures, with significant reduction in fail-over times, says the LSE.
Additionally, its response times are typically 10 milliseconds, about 12 times faster than the current trading system, says JSE COO Leanne Parsons.
"The system will also be faster, with more functionality and flexibility, and assist in reducing the JSE's technology costs," adds Parsons.
In preparation for the system changeover, the JSE conducted two dress rehearsals, with all equity traders and information subscribers required to participate. These rehearsals would enable the local bourse to gauge overall readiness and identify any critical issues prior to the "go live" date, the JSE said earlier this year.
"We implemented the system [yesterday] and are now fully operational on the new trading system," says Parsons.
The agreement between the bourses is expected to continue development of business co-operation between the organisations. It is hoped this will encourage growth in listings, trading and data sales.
London markets are scheduled to go live with TradElect in the second quarter of this year.
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