The South African ICT and Electronic sectors each represent a rich source of niche software development and integration. The high-tech system migration and integration by Comparex Africa (Pty) Ltd, on behalf of authorised Central Securities Depository (CSD) STRATE, serves to illustrate this point.
Comparex Africa (Pty) Ltd is a leading integrator of competitive, innovative and practical business solutions based on Information and Communication Technology.
When STRATE (Share Transaction Totally Electronic) elected to implement electronic settlement for equities in South Africa, it concluded that the Swiss SECOM system was the most suitable solution. The SECOM system is an internationally recognised clearing, settlement and depository system which provided an ideal platform through which STRATE could access the international, ISO approved Swift routing system for financial messages.
STRATE had customised the system that would adequately perform clearing, settlement and depository functions within the local environment.
STRATE partnered with Comparex Africa to enable the hosting of the system and management of the infrastructure and facilities. This process meant developing STRATE on the infrastructure that existed at the South African Reserve Bank, thus allowing it to become operational and begin dematerialisation or the process whereby paper share certificates are replaced with electronic records of ownership.
As the preferred solution integration partner, Comparex Africa provided a dedicated mainframe service, established STRATE's failover environment and provided a remote disaster recovery system.
The overall goal of STRATE is to ensure that South Africa remains globally competitive and moves in line with international standards through the establishment of a secure and efficient settlement system.
Adrian Schofield, chairperson of the Savant executive committee, believes the country has a lot to offer in terms of Niche Software Development and Integration. The deal with the JSE Securities Exchange via STRATE, highlights the country's ability in this highly specialised and competitive global arena.
"The ICT Development Council, together with the Department of Trade and Industry, as well as Industry leaders, has identified Niche Software Development and Integration as a key area where South Africa remains globally competitive. The technological achievement in helping to move the JSE Securities Exchange onto a viable platform with an efficient customised system in order to secure electronic transfer, is a powerful illustration of our ability. The Savant initiative aims to market such achievements and this will definitely help place South Africa on the world technology map," says Schofield.
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