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JSE Market Communication Session 9 February 2007

JSE Market Communication Session 9 February 2007. Leanne Parsons. AGENDA JSE Market Communication Session. Part 1 – JSE Equities Trading System Replacement Status and Timeline Dress Rehearsals Part 2 - Orion Release C Project Update.

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JSE Market Communication Session 9 February 2007

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  1. JSE Market Communication Session9 February 2007 Leanne Parsons

  2. AGENDA JSE Market Communication Session • Part 1 – JSE Equities Trading System Replacement • Status and Timeline • Dress Rehearsals • Part 2 - Orion Release C • Project Update

  3. AGENDA Equities Trading Roadmap - Market Dress Rehearsals • TRM Project Timeline & Test Purpose • Objectives • Principles • Participation and Responsibility • Test Schedule • Test Data • Other • Questions

  4. We are here! TRM Project Timeline 2007 2006 Feb Dec Oct Nov Jan Mar Sept Aug Start Date 7 Aug 6 Weeks 21 Aug – 30 Sept JSE Analysis & Design 9 weeks 18 Sept – 17 Nov JSE Development 5 Weeks 20 Nov – 22 Dec JSE System Testing 9 Weeks 2 Jan – 2 Mar JSE/LSE Prepare and Execute Integration Test TALX Analysis & Design JSE Development JSE System Testing Prepare and Execute Business Operations Proving Test Infr Readiness Prod Infr Readiness 17 Feb 07 Dress Rehearsal EAS LIVE CTS LIVE New JIMAS Dress Rehearsal 10 Mar 07 Dress Rehearsal 24 Mar 07 Design, Build and Test of Data Vendor / Member Solutions Customer Conformance User Readiness Actions COMMS COMMS COMMS GO LIVE 26 Mar TWG TWG TWG TWG TWG TWG TWG TWG

  5. TRM Project TimelineKey Dates *Note: These confirm technical go live dates, functional go live for some new functionality to be confirmed

  6. TRM Project TimelineKey Dates Mar 2007 Feb 2007 Jan 2007 DR 1 Brief 9 Feb DR 2 Brief 2 Mar Internal Technical Cut over Test Sat6 Jan Dress Rehearsal 2 Sat 10 Mar Dress Rehearsal 1 Sat 17 Feb Internal Technical Cut over test at a single site Sat27 Jan Final Cut-Over Brief 20 Mar Go-live 26 Mar LEGEND DR Dress Rehearsal

  7. JSE Equities Trading ReplacementPurpose of the Dress Rehearsals • Most common questions received to date related to the dress rehearsals :- • Why the need for the full market dress rehearsals and participation? • JSE SETS is migrating off the LSE TSR2 network to the new LSE TSR4 network • JSE SETS is migrating from the non-stop high availability Tandems to a new HP/Microsoft platform • New functional requirements introduced with TRM and new/changed messages • Who needs to test? • All Equity Traders – ensure all trader workstations are manned • All Information subscribers

  8. JSE Equities Trading ReplacementPurpose of the Dress Rehearsals • What needs to be tested? • All existing JSE SETS functionality and newly introduced functionality supported by your trading front-end • All order entry and basket trading applications (DMA) that directly interface with the new JSE SETS and InfoWiz solutions • How to test? • Use of conformed TRM compliant software • Use of all current production enablements – either from your production server or secondary server (this is specific to each user & how they plan to rollout/rollback your TRM software for testing) • Use of new TRM enablements created for new TRM infrastructure

  9. AGENDA Equities Trading Roadmap - Market Dress Rehearsals • TRM Project Timeline • Objectives • Principles • Participation and Responsibility • Test Schedule • Test Data • Other • Questions

  10. Objectives Equities Trading Roadmap - Market Dress Rehearsals • Practise the JSE, LSE, FTSE and User cut over activities required for Go Live • Practise a normal trading days’ activities in a simulation which mirrors a normal market as much as possible • Gauge the overall level of readiness across JSE, LSE, FTSE and the JSE & NSX Members, Vendors and Institutions to cut over to the new solutions • Identify any critical issues that need to be addressed prior to Go live • Ensure the overall solution meets JSE requirements • Build internal and external confidence for Go Live • Minimise the risk of unexpected issues on Go Live day

  11. Objectives contd.Equities Trading Roadmap - Market Dress Rehearsals • Provide Users with an opportunity to test and verify the accuracy and integrity of their changed front-end solutions and related systems for trading and information dissemination • Provide Users with an opportunity to test and familiarise themselves with the new JSE trading and information dissemination platform in a live-like environment • Prove existing internal JSE application readiness for Go live. e.g. Downstream integration

  12. AGENDAEquities Trading Roadmap - Market Dress Rehearsals • TRM Project Timeline • Objectives • Principles • Participation and Responsibility • Test Schedule • Test Data • Other • Questions

  13. PrinciplesEquities Trading Roadmap - Market Dress Rehearsals • As communicated in November 2006, all Dress Rehearsals are compulsory for all Equity Trading users and subscribers of InfoWiz • Dress Rehearsals will be conducted in the Live JSE, LSE & User Environments • The Live environment of the JSE & LSE will be restored after the rehearsals in readiness for business as usual on the following Mondays • Only Users using conformed software will be allowed to partake in the Dress Rehearsals • All Dress Rehearsals will be supported by internal JSE departments as per standard operational support • The test schedule is structured around normal business operations • Dress rehearsals are planned to test system functionality and integrity. These are not stress tests!!! • Users are expected to behave in an orderly manner and to simulate a live trading day with realistic order details and related prices • All User applications to be used in the live environment must be tested in the Dress Rehearsal • All terminals connecting to production must be manned for the test

  14. AGENDAEquities Trading Roadmap - Market Dress Rehearsals • TRM Project Timeline • Objectives • Principles • Participation and Responsibility • Test Schedule • Test Data • Other • Questions

  15. Participation Equities Trading Roadmap - Market Dress Rehearsals MANDATORY Participation is required during the Saturday live trading day simulation from :- • All JSE and NSX Equities traders = 100 % participation in all scheduled DR tests • All relevant user IT support staff. (e.g.networks, applications, PC support etc) • All information users who will be subscribing to InfoWiz • All JSE approved basket trading and client order entry applications (DMA) • All other user applications interfacing with their front-end applications • The test starts at 12h00 and ends at 18h00 • Technical testing 12h00 – 19h00 • Business Testing 13h00 – 16h30

  16. Responsibility Equities Trading Roadmap - Market Dress Rehearsals USERS are responsible for ensuring: • They participate throughout the test between 12h00 & 18h00 on all the test days • Full participation from all traders (13h30 – 16h00) • Full participation from all relevant User IT support staff (e.g Networks, applications, PC support etc) • Full support from relevant software providers • Identifying the responsible person per User to be used by the JSE as the key contact person. Users must provide the contact details to the JSE helpdesk by Wednesday (14 February 2007) by 12h00 on (011) 520-7777 • All Users follow the test plan and schedule - PLEASE READ TEST PLAN/SCHEDULE!!!! • ONLY realistic prices and order details are used for all orders – failure to do so, will result in unnecessary disruptions and potential delays to the test schedule. The JSE will be monitoring all test data and this behaviour will result in a User Dress Rehearsal FAIL!!!!! • Staff are aware of problem escalation procedures to ensure problems logged with the correct helpdesk. E.g Front-end queries are logged with software providers not the JSE • All problems are reported and logged with the JSE Customer Support (011) 520 7777

  17. Responsibility Equities Trading Roadmap - Market Dress Rehearsals USERS are responsible for ensuring (cont..): • All user test data is removed from their production environments after the Dress Rehearsals • All JSE test scripts and procedures are downloaded from the JSE web prior to the test • That all users are informed this is NOT a stress test and that attention should be given to functionality and data integrity. Users are responsible for ensuring data accuracy. • Ensuring users keep track of all actions in the event of a problem to assist with problem determination. • Relevant monitoring of their infrastructure and related applications is performed during the dress rehearsals.

  18. ResponsibilityEquities Trading Roadmap - Market Dress Rehearsals JSEis responsible for ensuring: • Support will be provided through the JSE Customer Support helpdesk • All queries are allocated a reference number • Ensure all queries are addressed and resolved • Monitoring of all test data and users to ensure compliance with the test schedule and scripts (including errors generated by users) • Test schedule execution and adjustments as required – watch the market messages for adjustments • Evaluate Dress Rehearsal participation and success and GO LIVE readiness • Contact Number during test: • JSE Customer Support : (011) 520-7777

  19. AGENDA Equities Trading Roadmap - Market Dress Rehearsals • TRM Project Timeline • Objectives • Principles • Participation and Responsibility • Test Schedule • Test Data • Other • Questions

  20. Dress Rehearsal ScheduleEquities Trading Roadmap - Market Dress Rehearsals Proposed schedule - under discussion Dress Rehearsal Activities Suspend Mkt (MSUP) LSE Systems Conversion, NW Cut-over & Start-up Normal Trading Schedule User Feedback & System Restores TRM Login & Ref Data Download 1 Saturday MktClose Auction 00h00 17h00 12h00 16h30 18h30 13h30 Production Restore Activities for Business Readiness Monday PROD Login & Confirm readiness For Monday LSE data restores for Business Day Monday and Systems Shutdown LSE Reinstate PROD Service Saturday 17h00 19h30 18h30 Sunday 12h00 Colour Legend: • Trading Schedule will be condensed to fit into shorter window • Intraday checkpoints with Users will be indicated in the detailed schedule. • All times reflected are SA standard time (SAST) JSE/LSE Internal Notes JSE User Participation JSE User Feedback & Cleanup Technical Connectivity

  21. Period ScheduleDaily Default Schedule

  22. Period ScheduleMarket Dress Rehearsals

  23. AGENDAEquities Trading Roadmap - Market Dress Rehearsals • TRM Project Timeline • Objectives • Principles • Participation and Responsibility • Test Schedule • Test Data • Other • Questions

  24. Test DataMarket Dress Rehearsals • JSE production reference data as at Friday 16 February 2007 • Users must do a full download on all dress rehearsals and the morning of Go Live • An EMPTY Order book will be used • For Dress Rehearsals – the system will be started using an empty order book • Monday 19th Feb 2007 and Monday 12 March 2007 – the production order book will be restored from the previous Friday • For Go Live – all orders will be deleted on Friday evening 23 March 2007, on Monday 26 March 2007 we will start with an empty order book • Closing prices as at the Friday night prior to dress rehearsal tests or the Go live day • Production Trader Ids as Trader Id validation will be enforced across all segments. • JSE will provide each member firm with a list of valid trader ids • New period schedule information as per the reference data downloads

  25. Documentation JSE Equities Trading Replacement • Online TRM Guidance notes and FAQ’s are published on the JSE website:- • submit all questions related to TRM to TradingServices@jse.co.za • URL: http://www.jse.co.za/jse_tis.jsp • TRM Dress Rehearsal Documentation • http://www.jse.co.za/jse_tis.jsp • Next Market Communication Session will be held 2 March 2007

  26. TRM CountdownJSE Equities Trading Replacement • TRM Count Down To Go Live • as at 9 Feb 2007… • 43 Total Days to Go Live • 31 JSE Business Days Remaining • 6 Business Days to 1st Dress Rehearsal • 6 Conformance slots to 1st Dress Rehearsal • 21 Business Days to 2nd Dress Rehearsal • 24 Conformance slots to 2nd Dress Rehearsal

  27. Questions? Refer all Equities TRM queries to: TradingServices@jse.co.za

  28. JSE Orion Release C Project Update9 February 2007Leanne Parsons

  29. Release CAgenda • The Release C Timeline • Connectivity (including Bandwidth) • User Testing • Training • Proposed Dates • Questions

  30. Release CTimeline We are here JSE Demarcation STT Detail Design STT Development and System Testing Config H/W Core Systems Final Code drop Prep Env. JSE Internal Integration Testing Operational Readiness and User Acceptance Testing JSE Formal Integration Testing JSE Internal Training User Training Final API Ver. 1 API User Testing and Conformance (FE & API) Draft API Specs Weekend Dress Rehearsals AD Weekend Dress Rehearsals ED Draft IP Readiness Requirements Ver.1 Connectivity Requirements Final Version Connectivity Requirements AD Deployment ED Deployment Draft EOD Specs Final Test Docs

  31. Connectivity • For members, access to the new testing and the new future production system can be: • Via leased existing lines to the JSE (if you have sufficient bandwidth) and these must be configured for TCP/IP • New Leased Lines (if insufficient bandwidth, these lines must be ordered by the customer) • Dial Up ISDN only (can use if existing bandwidth sufficient) • JSE Managed Network • For Information Subscribers (Real Time and End of Day) • For existing InfoWiz users, can utilise current equity connection. Users to confirm bandwidth requirements and if necessary, upgrade • Existing circuits interfacing to SAFEX datafeed cannot be used for Release C • New Information Subscribers will need to connect to the JSE through any of the options mentioned above for members

  32. Connectivity • Independent software vendors (building Front Ends through the API) • who want to connectivity to the testing environment can also use the options for members outlined above • ISVs can also use a member connection to test their software • For further details please refer to the updated connectivity document downloadable from www.jse.co.zaunder Project Orion from 14 February 2007 and submit any questions or queries to Derivatives_Info@jse.co.za

  33. Connectivity Bandwidth Guidelines • Preliminary bandwidth testing was conducted by an external company commissioned by the JSE • Trading using peak throughput scenarios from the current production system was simulated on the Release C Agricultural and Equity Derivatives Software for a sustained period of 15 minutes • The JSE intends doing further testing and any differences to bandwidth guidelines will be communicated as and when these become known • Members are asked to be aware of the fact that DMA and Auto quote applications may require higher bandwidth

  34. Connectivity Bandwidth Guidelines (contd.) • Members: • 25K per user • Information Subscribers • 25K per “listener” per market • EOD File downloads • Specifications on these files are being finalised, however the JSE estimates that the complete set of available files will not exceed 2MB per day per market if all files are subscribed to

  35. User TestingEnvironment • The test environment will be available from 09h00 to 19h00 • This environment will be supported from 09h00 to 16h00 • Contact and support details will be communicated closer to the launch • of the test environment

  36. User Testing • Independent Software Providers • Test all the functionality and messages and confirm compliance with JSE Derivatives Trading System API Specification. Updated version will be issued by 28 February 2007 • Will need to pass software conformance (similar to Equity Market) for Equity Derivatives by no later than 31 May 2007 and Agricultural Derivatives by no later than 13 July 2007 • JSE will provide full details of conformance tests and slots by no later than 30 March 2007 • Real Time Information Subscribers • JSE will make relevant information available in the user test environment • Must test all the functionality and confirm compliance with JSE Derivatives Trading System API Specification. Updated version will be issued by 28 February 2007 • Will need to pass software conformance (similar to Equity Market) for Equity Derivatives by no later than 31 May 2007 and Agricultural Derivatives by no later than 13 July 2007 • JSE will provide full details of conformance tests and slots by no later than 30 March 2007

  37. User Testing • End of Day Information Subscribers (FTP) • JSE will provide formulated test data • JSE will also provide test files produced out of JSE integration testing • JSE will provide details of when test data will be available by no later than 30 March 2007 • How do you get the new JSE Front End? • A link will be provided to download the new front end software • It is highly recommended that users attend training prior to downloading or using the new JSE Front End • The respective business areas for each market will be providing new user codes with passwords. These will be available by 30 March 2007. • Refer all queries to • Derivative_Info@jse.co.za

  38. TrainingGeneral Information • The training booking requirements document was distributed on 01 February 2007 to all members • Bookings for training can be made from 12 February 2007 • The JSE will start training on 19 March 2007 • Training will be in Johannesburg and refer to the Notices issued 1 February 2007 for booking details • Training in other SA cities is under consideration. Please indicate specific requirements to the respective business areas below:

  39. Training Equities Derivatives Members

  40. Training Agricultural Derivatives Members

  41. TrainingPlay-Time All Members

  42. Proposed Dates

  43. Questions Please refer all derivative queries to Derivative_Info@jse.co.za

  44. Thank you

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