This month the Johannesburg Stock Exchange (JSE), Africa's largest exchange, launched a cloud Marketplace in collaboration with DataBP. Business Report (BR) held a Q&A with the JSE to find out more
What is Marketplace?
Marketplace aims to transform the JSE’s data offerings. This new digital marketplace will serve as the central hub for all JSE data products and services.
The bourse has digitised client contracting for index agreements and introduced Trade Explorer for member analytics services.
BR: How this will enhance the investor experience?
JSE: It’ll enable easier access to data, and the ability to purchase small amounts of data through the Marketplace with cloud delivery, means data is accessible to more investors and investors in different geographies
BR: How does this new virtual storefront up the competition of South Africa's position as an emerging market?
JSE: The Marketplace will level up the client experience, from a data procurement perspective, in line with many global exchanges. It gives us an opportunity to differentiate ourselves as an emerging market exchange and offer services to other exchanges. Big XYT Ecosystems is another example of an opportunity to work with other emerging market exchanges.
BR: What drove this innovation? Or what challenges does Marketplace solve for the investor/JSE client base?
JSE: The innovation was driven by a few things, the need to reach more customers irrespective of location, the need to offer more flexible formats and fit for purpose data products and the need to fulfil orders easily and digitise the client experience.
The products available in the Marketplace are currently SENS (Stock Exchange News) Live, Intra- day and end- of- day and next we are adding end-of-day equity data products and then moving to streaming products for less latency sensitive use cases.
BR: At a macro-view, how does this benefit business?
JSE: This enables us to reach more clients, create more client centric products, iterate faster and more effectively and digitise the client experience with lower touch when that’s what suits the client.
BR: In short, why should someone become a JSE client to have access to this tool?
JSE: As we add product to the Marketplace, clients will be able to access the data with greater ease and a simpler contracting process.
In a statement last week, Mark Randall, the Director of Information Services at the JSE, emphasised the strategic importance of this initiative.
“Migrating data offerings to the cloud is a key part of JSE’s Information and Communications Technology (ICT) strategy. It not only reduces infrastructure costs but also increases flexibility,” said Randall.
“This offering marks the successful completion of the first phase of our market data modernisation strategy. Ultimately, the JSE aims to leverage cloud services to provide clients with analytics and insights, rather than just raw data.”
He said this offering marks the successful completion of the first phase of its market data modernisation strategy. Ultimately, the JSE aims to leverage cloud services to provide clients with analytics and insights, rather than just raw data.
BUSINESS REPORT