{"id":551076,"date":"2006-12-13T06:31:45","date_gmt":"2006-12-13T06:31:45","guid":{"rendered":"http:\/\/localhost:8888\/wordpress\/technology\/551076-jse-gets-new-it-system-running.html"},"modified":"2006-12-13T06:31:45","modified_gmt":"2006-12-13T06:31:45","slug":"jse-gets-new-it-system-running","status":"publish","type":"post","link":"https:\/\/mybroadband.co.za\/news\/technology\/551076-jse-gets-new-it-system-running.html","title":{"rendered":"JSE gets new IT system running"},"content":{"rendered":"<p><font size=\"2\">Leanne Parsons, chief operating officer of the JSE, likened the achievement of phase one to being at \u201cbase camp\u201d. <\/font><\/p>\n<p><font size=\"2\">\u201cWe still have two more phases to go, building on the foundations established by the launch of phase one. We will see these next two going live in 2007.\u201d <\/font><\/p>\n<p><font size=\"2\">Project Orion is part of the exchange\u2019s broader efforts to strengthen its role as a competitive force in the global financial marketplace, increase the exchange\u2019s efficiency, improve customer service and facilitate the introduction of new products. <\/font><\/p>\n<p><font size=\"2\">Phase one involves internal changes to the reference data systems, billing software, feeds from the trading platforms, communications systems and databases. <\/font><\/p>\n<p><font size=\"2\" \/><\/p>\n<p><font size=\"2\">Parsons said \u201cthe spaghetti situation of many systems has now been replaced by an integrated service, with minimal, in fact zero, disruption to the market during rigorous testing and going live\u201d. <\/font><\/p>\n<p><font size=\"2\">Of phase two, Parsons said: \u201cDerivatives traders will have a cutting-edge, stable and reliable trading system which will be able to integrate into JSE members\u2019 front-office environments with greater simplicity.\u201d <\/font><\/p>\n<p><font size=\"2\">Phase three will replace the existing Broker Deal Accounting system and the equities clearing and settlement systems. <\/font><\/p>\n<p><font size=\"2\">Phase three also includes a replacement of the JSE\u2019s surveillance system, which then permits more effective regulation through one central point of surveillance for all financial instruments. <\/font><\/p>\n<p><font size=\"2\">The project has undergone delays and postponements but Parsons said the original timetable was \u201cquite\u201d ambitious. <\/font><\/p>\n<p><font size=\"2\">\u201cAs our business is dynamic and new products were being developed, we changed some specifications and this saw the deadlines being moved out.\u201d <\/font><\/p>\n<p><font size=\"2\">Parsons said the JSE expected to achieve a return on investment from Project Orion in about four years, based on a projected reduction in operating expenses. <\/font><\/p>\n<p><font size=\"2\">She said listed companies and stockbroker members would share the benefits of the cost reductions and, ideally, pass these to the investor.<\/font><\/p>\n<p \/>\n","protected":false},"excerpt":{"rendered":"<p>THE JSE went live on Monday with the first phase of Project Orion, a massive IT systems overhaul that replaces the majority of the JSE\u2019s legacy systems, some of which are 20 years old.<\/p>\n","protected":false},"author":23,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_sma_x_autopost_status":"idle","_sma_x_autopost_error":"","_sma_x_post_id":"","_sma_facebook_post_id":"","_sma_instagram_post_id":"","_sma_threads_post_id":"","_sma_x_attempts":0,"footnotes":""},"categories":[17],"tags":[],"class_list":["post-551076","post","type-post","status-publish","format-standard","hentry","category-technology"],"_links":{"self":[{"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/posts\/551076"}],"collection":[{"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/users\/23"}],"replies":[{"embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/comments?post=551076"}],"version-history":[{"count":0,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/posts\/551076\/revisions"}],"wp:attachment":[{"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/media?parent=551076"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/categories?post=551076"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/tags?post=551076"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}