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JSE MARKET COMMUNICATION SESSION

JSE MARKET COMMUNICATION SESSION. 06 August 2008. DERIVATIVES REPLACEMENT SOLUTION AGENDA. Results of 02 August Dress Rehearsal Status and Planned Way Forward Questions. DERIVATIVES REPLACEMENT SOLUTION Results of 2 August Dress Rehearsal. ED Market

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JSE MARKET COMMUNICATION SESSION

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  1. JSE MARKET COMMUNICATION SESSION 06 August 2008

  2. DERIVATIVES REPLACEMENT SOLUTION AGENDA Results of 02 August Dress Rehearsal Status and Planned Way Forward Questions

  3. DERIVATIVES REPLACEMENT SOLUTION Results of 2 August Dress Rehearsal ED Market 350 unique trading and clearing users 8 information subscribers 9 API software vendors across multiple members using conformed applications AD Market 290 Unique users logins 8 information subscribers 10 API software vendors across multiple members using conformed applications Trading volumes (orders / deals) were roughly double of a normal production day in each market

  4. DERIVATIVES REPLACEMENT SOLUTION Results of 2 August Dress Rehearsal Issues found on ED Market

  5. DERIVATIVES REPLACEMENT SOLUTION Results of 2 August Dress Rehearsal Issues found on AD Market

  6. DERIVATIVES REPLACEMENT SOLUTION Results of 2 August Dress Rehearsal Issues Highlighted in ED Checklists Autosave of windows only functional on selected windows Auto-update in the trades file : If you double click on a trade in order to perform a function and the trades window updates, the highlighted trade may not be the trade originally selected Popup messages when loading clients should not appear on every terminal Separate deal tickers for APD and EDM Colours for buys and sells in ticker as per market ticker Need to be able to sort per code or full name in quick reference boxes Some Subscription groups were unsubscribed on the day

  7. DERIVATIVES REPLACEMENT SOLUTION Results of 2 August Dress Rehearsal Issues Highlighted in AD Checklists the sort/filter criteria on any of the files ( trades, various positions, orders etc) does not save when you close the window resulting in the user having to resort/filter each time the view is opened the deal ticker does not include client code and/or sub account when loading a “double”, can only insert single quantity same request as EDM, require sort functionality on the “Prin” quick reference box Various Subscription groups or messages, particularly 36 (full file download) were unsubscribed on the day When options were exercise the member including branch office experienced performance issues The response time of the local machine when the consolidated members position file containing a number of entries was kept open

  8. DERIVATIVES REPLACEMENT SOLUTIONStatus and Planned Way Forward Cont Cont Cont 19 May – 30 Jun 2 Prep. 21 - 25 (APD) 01 - 11 (EDM) 7 10 - 20 21 25 12 19 Post go live Par. Run 1 - 15 15 23 cont 18 16 19 2 Post go live Par. Run 6 - 18 18 20 25 Cont 2 4 18 3 - 10

  9. DERIVATIVES REPLACEMENT SOLUTIONStatus and Way Forward Testing planned by the JSE prior to the 16 August 2008 Dress Rehearsal • Testing of auction (EDM) and open order (APD) periods in simulation environment • Stress testing of trading engine using isolated simulation environment • Stress testing of trading engine using simulation environment with selected user participation

  10. DERIVATIVES REPLACEMENT SOLUTIONStatus and Way Forward Additional Testing requiring user involvement Inclusion of all AD Participants in 16 August Dress Rehearsal Test the auction (EDM) and open order (APD) periods with full market participation EDM – 12 August 2008 – Pre-production environment (IP 10.3.5.131 Port 2003) 17h00  - Market in download only – all users may login 18h20 – All ALSI expiries move into opening auction 18h30 – ALSI opening auction closes, all instruments move into continuous trading 18h50 – EDM Market closes APD – 12 August 2008 – Pre-production environment (IP 10.3.5.131 Port 2210) 17h00  - Market in download only – all users may login 18h20 – All Agricultural instruments move into Open Order period 18h29 – Open Order period closes 18h30 – All instruments move into continuous trading 18h50 – APD Market closes

  11. Questions? Refer all queries to: Derivative_info@jse.co.za

  12. Thank you

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