MCI’s Solutions related to ITAC

Integrated Trading and Clearing (ITAC)

“ITaC” is the abbreviation used for the JSE’s Integrated Trading and Clearing initiative. The ITaC project is a multi‐year programme of work focused on the introduction of an integrated solution for the JSE’s trading and clearing services.

The objective of the project is to implement world‐class, multi‐product solutions to enhance the JSE’s current trading and clearing functions: on the trading side, that means migrating all Derivatives and Cash Bond markets to the MillenniumIT trading platform, while for clearing, it involves the migration of all markets onto the new Cinnober Real‐Time Clearing (RTC) solution.

Market impact

With the replacement of Nutron with ITAC, the JSE will no longer be supplying member firms with trading and clearing front-ends resulting in members having the opportunity to select their own solution from vendors like MCI who can customise solutions for them that fits into their business operations.

MCI will provide the following solutions as it relates to ITAC

• RTC Populators
• RTC EMAPI Feeders
• EMAPI API which will facilitate: Client management, Setting risk limits, Deal management, Commission management and Aggregation
• Full Trading solutions with deal management

Benefits of partnering with MCI include:

• Fix interfaces
• Full API
• Hosted or host to host solution
• Pre and post trade risk management
• Customization
• Localised development
• Clients have access to the SQL environments for downstream system integration