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Send  Share  RSS  Twitter  15 Aug 2011

JSE: Strate Seamlessly Handling Record JSE Trading Volumes

 





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In the past few days, Strate Ltd, South Africa’s authorised Central Securities Depository (CSD), has processed settlement volumes 40% ahead of those recorded at any time during the past couple of years.

And over the next few days, the company anticipates settling well in excess of R250 billion worth of transactions on a daily basis for the equities, bond and money markets.

Strate settles all equities and bond transactions for the JSE as well as money market securities.

“Strate is currently seamlessly processing a record number of settlements through our systems on a daily basis to cope with the increase in trading volumes on the JSE,” says Strate CEO, Monica Singer. “While we are continually monitoring the settlement of all trades, Strate’s systems have been designed to process volumes in excess of what we are seeing at the moment in anticipation of the market volatility of the past few days.”

Singer explains that one of the key roles of the CSD in any country is to provide a robust infrastructure to cope with such times while mitigating the risks associated with the processing of these financial transactions. “Much of the time and money we spend is centred on planning for the unanticipated – from our ability to process a large number of transactions to business continuity and disaster recover planning.”


Strate’s processes and systems have been designed to mitigate settlement risk through the effective netting of trades from the JSE at the point of settlement. This reduces the risk of failure. For example, the JSE has recorded over 230 000 transactions a day during this high peak period resulting in less than 17 000 settlements due to this netting effect. In addition, the liquidity obligations by the banks are also better managed through this effective netting mechanism.


Strate’s communication infrastructure, which is a secure mechanism used for sending financial transactions between institutions linked to Strate, has also seen a marked increase in activity, with Strate processing in excess of 220 000 messages a day compared with 150 000 normally processed.


 
 
 
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