Namibian Stock Exchange (NSX) Renews Trading Technologies Contract with JSE
Johannesburg, 15 September 2014 - After 15 years of using the Johannesburg Stock Exchange (JSE)'s equity trading systems and services to trade, clear and settle its securities, the JSE and the Namibian Stock Exchange (NSX) undertook a review of the services and the NSX has renewed the contract with the JSE to use its trading technology and services indefinitely. The two exchanges originally signed an accord for the exchange of technology, skills and information in 1998.
"The agreement with the NSX is of strategic importance to the JSE and provides an indication of the services we are able to offer our other counterparts on the African continent with massive economies of scale benefits," says Director of Trading and Market Services, Leanne Parsons. "The close relationship between the two exchanges extends beyond technology and includes knowledge sharing where appropriate. It makes sense to us to continue to grow the relationship."
The NSX, which was re-launched in 1992, had a total of 34 listed companies, four members (stockbrokers) and six sponsoring brokers by early 2014.
We believe the introduction of the JSE's systems had a positive impact on the NSX's trading volumes," says NSX CEO Tiaan Bazuin. "We see the JSE as a strategic partner offering a platform which is good for the Namibian exchange and its clients."
This month's agreement between the two exchanges includes a range of services:
- Use of the Millennium Equity trading system;
Real-time market data distribution;
Maintenance of the market data gateways;
Use of the Securities Exchange News Service;
Equities Clearing and Settlement services;
Reporting facilities which assist NSX members to perform back-office administration functions; and
A portfolio facility which enables NSX Members to calculate their client investment portfolios.
The Johannesburg Stock Exchange is based in South Africa where it has operated as a market place for the trading of financial products for 125 years. It connects buyers and sellers in equity, derivative and debt markets. The JSE is one of the top 20 exchanges in the world in terms of market capitalisation and is a member of the World Federation of Exchanges (WFE). The JSE offers a fully electronic, efficient, secure market with world class regulation, trading and clearing systems, settlement assurance and risk management. www.jse.co.za
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