The Johannesburg Stock Exchange (JSE) and Rapid Addition have collaborated on a new order routing hub – JSE-FIX – set to reduce the cost of sending orders.
JSE-FIX is a vendor, venue and asset class agnostic offering and aimed at simplifying access to South Africa’s secondary markets and contribute to growing the increasingly diverse community of asset managers, sell-side brokers, and technology providers in the region.
“The JSE is committed to pursuing innovative and cost-effective solutions that create an enabling environment for market participants. The launch of JSE-FIX demonstrates our dedication to being the centre of innovation for financial markets on the African continent through collaboration with leading financial technology companies such as Rapid Addition,” said Valdene Reddy, director of capital markets at the JSE.
Rapid Addition’s order routing technology is set to be leveraged for the new service, with vendor-neutral counterparty connectivity for both domestic and international asset managers.
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Mike Powell, chief executive of Rapid Addition, said: “The JSE-FIX collaboration reflects our shared vision with the JSE to reduce the cost and complexity of trading by delivering open, scalable technology solutions that enable capital markets. We look forward to working with the JSE to deliver JSE-FIX and building on our existing relationships with customers in the region.”