JSE Welcomes New Agricultural Derivates Trading System
JOHANNESBURG, MONDAY 20 OCTOBER 2008. - Today, the JSE’s Agricultural Products Market (APD) welcomed a new derivatives trading platform. This new technology would allow for greater functionality and increased automation, especially as regards the delivery process for deliveries in completion of a futures contract.
“We are very pleased with the new platform and the possibilities for new product development that it brings,” comments Rod Gravelet-Blondin, Senior General Manager: Agricultural Products at the JSE.
“The automated physical delivery process facilitated by the new system allows for brokers to enter the deliveries on the front end that will increase efficiency in the delivery process for both the exchange and the market participants,” says Gravelet-Blondin.
As with the equity derivatives trading system, local company STT were the systems developers. “We have taken all the necessary testing steps to ensure the system runs smoothly from day one – both internally and with members and clients,” says Gravelet-Blondin “We’d like to thank JSE staff, APD members and Clearing members for giving up a number of Saturdays to ensure that this launch was possible on the scheduled date.”
This technological development is in-line with a total technology review at the JSE and follows in the footsteps of the new equity derivatives system that was upgraded this past August. “A world-class exchange must constantly review its technology,” concludes Gravelet-Blondin.
FOR FURTHER INFORMATION PLEASE CONTACT:
Corporate Communications Consultants (Pty) Ltd
Tel: (011) 783 8926
Fax: (011) 783 7608
On behalf of
Senior General Manager: Agricultural Products at the JSE
Tel (011) 520 7000
As South Africa’s only full service securities exchange, the JSE connects buyers and sellers in four different financial markets, namely equities, equity derivatives, agricultural derivatives and interest rate instruments (Yield-X). The JSE Ltd offers the investor a truly first world trading environment, with world class technology, surveillance and settlement in an emerging market context. It is amongst the top 20 largest equities exchanges in terms of market capitalisation in the world.
For further information, please visit www.jse.co.za