The FINANCIAL -- MTS, the electronic bond trading platform that is part of London Stock Exchange Group, and the Johannesburg Stock Exchange (JSE), South Africa’s leading financial markets operator, announce reaching an agreement to open South Africa’s first electronic government bonds trading platform powered by MTS.
The move seeks to enable global access to, and enhance transparency in, the South African government bond market, offering access to deep pools of secondary market liquidity. This relationship is a first for MTS in African sovereign bond markets.
Nine primary dealers have already announced that they have signed up as liquidity providers for the platform including Absa Bank, Citibank,HSBC, and JP Morgan.
MTS has been operating electronic fixed income markets for 30 years, developing technological expertise in both government and corporate debt market operations.
MTS has been selected by the JSE after a competitive procurement process to provide technology, operational services and monitoring of primary dealers obligations for the new market. The new market will be operated and managed by the JSE in South Africa in accordance with local regulations. The new platform has gone live.