In the first of two agreements, the Exchange will employ Accenture to consolidate its current technology infrastructure and reengineer its data architecture by migrating it onto a new technology platform. Over two years, new architecture will be built from a combination of applications designed to integrate easily with the internal IT systems of users of the Exchange.
In a separate seven-year contract, Accenture will manage the Johannesburg Securities Exchange’s (JSE) applications and technology infrastructure and its trading and business services.
Together, these two initiatives will enable the JSE to be more cost-effective through implementing a lower-cost, more stable and reliable technology solution that is also more responsive to business change, said JSE COO Leanne Parsons. We expect to be able to reduce our IT operating expenses by at least 10% per year.
The JSE currently deploys a version of the Accenture-operated London Stock Exchange’s Sets platform and has announced plans to utilize the Exchange Extensible Clearing System (ECS) from Chicago, Illionis-based Clearing Corporation in an attempt to manage its equities and derivatives clearing processing.
