Johannesburg Stock Exchange (JSE) has partnered with Rapid Addition to introduce a cutting-edge order routing service called JSE-FIX, with the primary objective of streamlining access to South Africa’s secondary markets. This collaboration signifies a strategic move to foster a more diverse ecosystem comprising asset managers, sell-side brokers, and technology providers within the region.

The newly launched JSE-FIX platform is designed to lower the expenses associated with order placements. It stands out for its vendor, venue, and asset class neutrality, emphasizing inclusivity and ease of access to the South African secondary markets. Valdene Reddy, the director of capital markets at JSE, highlighted the exchange’s commitment to innovation and cost-effective solutions that empower market participants. The introduction of JSE-FIX underscores JSE’s ambition to position itself as a hub of financial market innovation in Africa, achieved through collaborations with industry-leading financial technology firms like Rapid Addition.

Rapid Addition’s advanced order routing technology will be a key component of this new service, offering vendor-agnostic counterparty connectivity for both local and international asset managers. Mike Powell, the CEO of Rapid Addition, expressed enthusiasm for the collaboration with JSE, emphasizing their joint vision to simplify trading processes by providing scalable and open technology solutions that enhance capital markets efficiency. This partnership is expected to not only deliver JSE-FIX but also strengthen existing customer relationships in the region.

The initiative by JSE and Rapid Addition is poised to revolutionize order routing services, making trading more efficient and cost-effective for market participants. By leveraging cutting-edge technology and fostering collaboration between key industry players, the introduction of JSE-FIX marks a significant step towards enhancing the accessibility and functionality of South Africa’s secondary markets.