The Johannesburg Stock Exchange (JSE Ltd), Africa’s largest stock exchange, has announced that it’s working with Amazon Web Services to overhaul its over 30-year-old broker-dealer administration system.
Details
The deal is a step toward partnering with a company that’s collaborating with some of the world’s biggest stock markets, such as the US’s Nasdaq and the London Stock Exchange.
Between The Lines
Leila Fourie, the chief executive officer of the JSE Ltd stated that the deal is part of a strategy to form technology partnerships, which have included setting up a carbon-trading market and a private placement platform as the exchange tries to make itself more competitive and to capture more business from other African countries.
What They’re Saying
“This is the first stage in this relationship,” Leila Fourie, the chief executive officer of the JSE Ltd., which runs the exchange, stated. “We are of course, in discussions with them on other potential solutions.”
“We have to modernize our technology,” she said. “We feel that building new solutions from the ground up is slow and lumbering and we want to be agile.”
Source: Bloomberg
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