Johannesburg, 04 Jun 2020
Since the introduction of the A2X exchange about two-and-a-half years ago, one of the major challenges that brokers have faced is that their infrastructure was geared for a single exchange environment. The post trade environment has been a significant challenge for brokers wanting to trade across-markets and get the best deal for their clients.
After much engagement with their brokers, MCI Consultants was approached by A2X to assist with the development of a post trade system called Member Client Record and Allocation System (“MeCRAS”).
The MeCRAS system, which is now live and is being rolled out to some A2X member brokers, allows A2X member brokers to undertake agency trades on behalf of their clients and easily manage the deal allocation and settlement process. The system, which is hosted by A2X, facilitates integration between the brokers’ downstream systems, allowing for seamless end-to-end processing.
“It has been a pleasure working with A2X to deliver a solution to their brokers which has helped lower the barriers to entry, and helped their brokers achieve best execution and clearing of their trades in a seamless, automated manner post trade at A2X,” commented Jan Rabbets, Business Partner at MCI.
MCI provides mission-critical software and IT services to institutions in virtually every segment of the financial services industry. Its solutions include: Trust administration, portfolio management, trading solutions, online share trading, back-office solutions, advisory solutions, digital wealth and investment management suite. MCI's solutions provide for digital onboarding, off-boarding, digital collaboration, front, middle and back-office solutions enhanced with the latest artificial intelligence.
A2X is a licensed stock exchange that provides a secondary listing venue for companies. It is regulated by the Financial Sector Conduct Authority and the Prudential Authority (SARB) in terms of the Financial Markets Act. A2X began trading in October 2017 and has nine approved brokers, including five of the top six largest brokers as measured by value traded.
For further information, please contact Jan Rabbets, MCI: tel (011) 454 3420, e-mail j.rabbets@mci.co.za.
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MCI Consultants
MCI Consultants (Pty) Ltd (“MCI”), founded in 1995, is a boutique technology partner that provides world class solutions to solve business needs and to drive acceleration.
Based in Johannesburg, South Africa MCI specializes in providing IT solutions to medium and large companies across various industries in South Africa, Africa and abroad.
MCI offers a complete solution, which can include project management, consulting services, installation, training and support, packaged software implementations, hosted solutions and product development.
MCI’s superior performance and reputation is attributable to its passionate, dedicated team and dynamic skill pool of consultants.
MCI’s approach is to continuously provide solutions to meet its clients' changing requirements. MCI prides itself in delivering excellent customer service and building long-lasting partnerships with its clients.