Vol 1 No 26
BRIEF OBJECTS
11/15/04
JSE SUFFERS TRADING HALT
The Johannesburg Stock Exchange (JSE) was forced to stop trading on Tues., Nov. 9, following a connectivity failure, officials confirm. Exchange sources report that the trading system was halted just before 3:30 p.m., Johannesburg time, when the JSE lost its communications link with the London Stock Exchange (LSE), which hosts and operates the JSE's transaction platform. Although three back-up connections are maintained by the exchanges, for some reason, none of them kicked in as they were supposed to, say officials. Markets would normally have closed at
5 p.m., but an effort was made to recoup lost trading hours by reopening the market at 5:30 p.m. However, with some market participants still having trouble connecting it was decided that, in the interest of fairness, trading would recommence the next day, say officials.
LOGICSCOPE LAUNCHES STP TOOL
Market data distribution products provider LogicScope Realisations has launched TradeSTP, a post-deal trade notification offering, that can be used by any originator of foreign exchange (FX) deals or related treasury instruments. The tool facilitates post-trade delivery to a counterparty's middle- and back-office applications. The new application takes completed deals from brokers and other liquidity providers, delivers them to a counterparty's post-trade environment and integrates them with the target applications or middleware.
SCRITTURA TARGETS OTC DERIVATIVES
Documentation automation technology provider Scrittura has launched Cashflow Matching for over-the-counter (OTC) derivatives cash flow. The system is cross-product and covers the life cycle of a trade, and helps banks meet the deadline of 2006 to have systems that undertake cross-product matching and netting of cash flows across all OTC transactions for any settlement date.
