INTELLIGENT SOFTWARE
IRESS clients ready for cutover
to the JSE’s ITaC platform
A total of 20 South African clients have gone live on
its SAFEX trading and deal management solution
RESS has announced that over
20 South African clients have
gone live on its South African
Futures Exchange (SAFEX) trading and deal
management solution.
IRESS’ SAFEX front-end was developed
in response to the JSE’s Integrated Trading
and Clearing (ITaC) initiative that sees
the migration of the JSE derivatives and
cash bond markets onto the exchange’s
MillenniumIT trading platform and the
migration of these markets onto the
Cinnober Real-Time Clearing (RTC) solution.
The JSE will no longer be providing
member firms with the Nutron trading and
clearing front-end, choosing instead to
open this market to third-party software
I
INTELLIGENT TECH CHANNELS
INTELLIGENT
TECH CHANNELS
Issue 26
providers such as IRESS. Leveraging the
rich functionality of the IRESS Order
System (IOS+), clients have access to a
comprehensive and flexible integrated
trading solution with multi-asset,
multi-market order routing, execution
management and post trade processing. The
SAFEX front-end, coupled with IRESS IOS+,
will enable seamless access to MIT’s data,
and international fundamental and technical
market data for trading, and the Cinnober
RTC for deal management.
“As a strategic technology partner to the
JSE, we’re excited to offer SAFEX trading
and deal management to the stockbroking
community,” said Shaun Nicholson, Head of
South African Financial Markets at IRESS.
“It provides for a single, scalable, fully
hosted and managed solution that
creates cost efficiencies, while meeting
the challenges of trading in today’s
complex marketplace.”
To provide clients with a leading-edge
deal management solution, IRESS has
partnered with SecuritEase in South Africa.
The SecuritEase System is a real time multi-
currency, multi-market, multi-asset class
settlement and accounting system with an
integrated multi-currency, multi-company
general ledger.
Bill Tonkin, Managing Director at
SecuritEase, added: “We are committed
to the South African banking and finance
industry for the long term through our
partnership with IRESS. We believe that our
product set for stockbroking is extremely
relevant to the South African market. That
relevance and commitment have been
demonstrated by being able to take a
piece of existing SecuritEase derivatives
settlement system functionality and develop
the EMAPI interface and other customisation
specific to the South African market to make
a JSE accredited ITC product.”
In addition to front-end trading and deal
management functionality, all IRESS clients
can leverage the IRESS SmartHub, a global
trade messaging network, for electronic
order routing and direct market access via
FIX globally.
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