The Clearing Corporation (C-Corp) announced on 8 December a
deal to sell clearing technology acquired with the purchase of
OnExchange to Johannesburg Securities Exchange (JSE). The move
is part of a plan to move C-Corp's business model away from
total reliance on clearing fee revenue. Separately, C-Corp
signed a second firm to its clearing link with Eurex.
Under the JSE deal, C-Corp will install its OnExchange
Extensible Clearing System (ECS) for the clearing of equities,
futures and options at JSE.
Terms of the deal were not disclosed. The clearing
technology is just one part of a major overhaul and
implementation of a new trading and clearing platform at JSE.
C-Corp is tentatively scheduled to begin installing the
clearing system late next year for equities and sometime in
2006 for futures and options.
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