South Africa begins using MillenniumIT software

Thu, 20 June 2013 06:51:15

04 Jul, 2012 05:59:50

July 05, 2012 (LBO) - South Africa's Johannesburg Stock Exchange (JSE) has started to use trading software by Sri Lanka based MillenniumIT, a unit of the London Stock Exchange group from July 02.

The trading engine of the stock exchange has also been moved to the JSE building from London, the software firm said in a statement.

"The JSE’s move to the new equity system, which we have nicknamed Project Jaya meaning ‘victory‘ in the language of Sri Lanka, is a victory for the market," Leanne Parsons, director of the JSE’s Equity Market said in a statement.

Migrating to the 'Millennium Exchange's will allow transactions to be conducted 200 times faster than the earlier system at JSE.

The software is running live in 14 installations excluding JSE, the company said.