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...