Africa’s largest bourse, the Johannesburg Stock Exchange (JSE), has partnered with international managed cloud computing and analytics company Beeks Group to expand its cloud-based colocation service to Colo 2.0.
According to the JSE the improved service offering will allow clients to access on-demand private cloud computing as well as low-latency analytics.
“The launch of Colo 2.0 will further entrench our position as a centre of innovation for financial markets on the African continent,” JSE’s head of equities and equity derivatives Langa Manqele said in a statement on Monday.
“We will provide our clients with leading edge innovative hosting and connectivity solutions for their colocation needs. This collaboration with two global market leaders is paramount to fostering innovation at the JSE.”
Growth strategy
The expansion to the Colo 2,0 service forms a major part of the bourse’s growth strategy across services.
According to the JSE statement, Colo 2.0 will reduce time to market and total cost of ownership, while offering PTP (precision time protocol) time stamping, improved flexibility and scalability, a built-in analytics server, and a single point of contact for support and invoicing.
Beeks Group CEO Gordon McArthur said: “Africa is fast emerging as an influential global player and this is a huge opportunity for Beeks, IPC and the JSE to help drive capital markets innovation and development in Africa.”
“By reducing capex (Capital Expenditure) spend and operational barriers to entry, our flexible solution allows the JSE to offer a branded cloud service in their own facility, and control that infrastructure easily at scale, turning a cost centre into a profit centre,” McArthur said.
“By leveraging our solution, JSE’s clients can reduce time to market, decrease capital expenditure and ease their dependency on working with multiple vendors. As a continent experiencing rapid transformation and one of the fastest expanding economic regions globally, the role of Africa’s capital markets for economic development has never been more critical.”
Read: The upstarts challenging banks in the forex market
Stay connected with us on social media platform for instant update click here to join our Twitter, & Facebook
We are now on Telegram. Click here to join our channel (@TechiUpdate) and stay updated with the latest Technology headlines.
For all the latest Business News Click Here
For the latest news and updates, follow us on Google News.
Denial of responsibility! NewsAzi is an automatic aggregator around the global media. All the content are available free on Internet. We have just arranged it in one platform for educational purpose only. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, all materials to their authors. If you are the owner of the content and do not want us to publish your materials on our website, please contact us by email – [email protected]. The content will be deleted within 24 hours.
