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Africa’s top stock market partners with Amazon Web Services
8:28 CAT | 19 Mar 2024
FILE - The head of the exchange said, the deal is a step toward partnering with a company that’s collaborating with some of the world’s biggest stock markets. [File photo: Bloomberg]
- JSE to overhaul its broker dealer administration system
- South African bourse is seeking technology partnerships
The Johannesburg Stock Exchange, Africa’s largest bourse, said it’s working with Amazon Web Services to overhaul its over 30-year-old broker dealer administration system.
The head of the exchange said, the deal is a step toward partnering with a company that’s collaborating with some of the world’s biggest stock markets, such as the US’s Nasdaq and the London Stock Exchange.
“This is the first stage in this relationship,” Leila Fourie, the chief executive officer of the JSE Ltd., which runs the exchange, said in an interview on Monday. “We are of course, in discussions with them on other potential solutions.”
The deal, Fourie said, is part of a strategy to form technology partnerships, which have included setting up a carbon-trading market and a private placement platform as the exchange tries to make itself more competitive and to capture more business from other African countries.
“We have to modernize our technology,” she said. “We feel that building new solutions from the ground up is slow and lumbering and we want to be agile.”
The JSE gained as much as 5% in Johannesburg, the most since Aug. 23, after the company said annual net income rose 11%
Source: Bloomberg
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