Transcript 20061116-JSE CT Comms V2

JSE UPDATE
COMMUNICATION SESSION - CAPE TOWN
Leanne Parsons
16 November 2006
Copyright© JSE Limited 2005
www.jse.co.za
AGENDA
JSE Update
Orion Project
− Status of Release A
− Status of Release B
− Status of Release C
Equities Trading System Replacement Project
− Functional Summary
− Technical Summary
− Project Timeline
− Customer Testing
− User Documentation
JSE Managed Network (JSE & MTN)
− Project Background and Objectives
− MTN NS and Solution Overview
− Internet Phase
− International Links Phase
− Customer Network Phase
Environment
Draft Costing
©
2
Release A:
Migration Plan
2006
Q2
Q3
Q4
OCT
NOV
DEC
System Test & UAT (Corporate Actions)
Internal ETE
Development and Testing
Business
ETE
Parallel
Run Prep
Parallel
Run
Start 10 days of
Client Specific
Test-File
Generation
Generation of
Generic Test-File
©
Potential
Go-Live
3
Release A:
Progress Made to Date
In terms of Release A, efforts on the project have centred around:
Preparation for End to End Testing
−
Ongoing testing in the production environment, including the closure of functional and technical errors from
previous UAT phases
−
Ongoing system performance testing and tuning
−
Re-design, build and testing of Corporate Actions functionality
−
Statistics verification and checking
−
Creation of updated test conditions, scenarios and scripts
−
Execution of 3 passes of internal ETE testing
Business End to End Testing (UAT)
−
Execution of 2 full cycles of business ETE
−
Results verification and confirmation
−
Error correction and close out
Operational Readiness (Parallel) Preparation
Start of Parallel Run
©
4
Release A:
Next Steps
A further set of system generated non-client specific EOD Equity Dissemination files were made
available during the week of the 9 October 2006.
At the completion of ETE on Friday 10 November 2006, the project has moved into the
operational readiness phase. During this time, new Orion systems will be run in parallel with the
legacy applications to ensure operational readiness. This is a cautious approach to ensure that
we do not impact our existing services. Should operational readiness be proven quickly it is likely
that the JSE will be ready for implementation of Release A on either 27 November 2006 or
11 December 2006.
The JSE did commit to provide new client-specific EOD files for a minimum of ten business days
(in addition to the current files) prior to the formal implementation (Go-Live) of Release A. This
parallel phase officially commenced on Monday, 13 November.
The first set of client specific EOD test files were already provided on Sunday evening, which
contained the data for Friday, 10 November.
Any queries on the files should be sent to: [email protected]
©
5
Release B:
Migration Plan
2006
Q2
Q3
Vendor Development and
System Testing
2007
Q4
Q1
Q2
Q3
Q4
System /Integration Test
JSE
Formal Integration Testing
JSE
Activiti
es
Formal User Testing
Membe
r
Activiti
es
Dress
Rehearsal
Training
POSSIBLEGO-LIVE
©
6
Release B:
Progress Made to Date
MSS Update:
− Design Close-out:
• A total of 33 functional specifications have been signed off.
• Reports Functional Design has been signed off and Reports Technical specifications are
complete and agreed with FRI.
• The following Design activities are complete:
» Interface Design
» Batch Design
» Data Integrator (the MSS loader tool for file interfaces) and Technical Architecture
» All Dissemination Designs
− Update on Code Delivery:
• FRI has delivered 10 code drops to date.
− Testing:
• Progress with installation of FRI code drops into the test environment.
• System Test Models signed-off for 70% of all Functional System Test Models, expected to
be completed during 2006.
©
7
Release B:
Progress Made to Date (Cont.)
MSS Workgroups Update
− Two successful screen demonstration sessions were done on some of the new system
screens with the Orion Core Group.
− Demonstration of the screens to the entire market at a later stage (only applicable to
Johannesburg).
− All members have signed the required Non-disclosure Agreements – every staff member
should have access to the functional specifications.
− TWG Sessions were held for developers involved in downstream applications:
• To discuss new dissemination files and API’s
• To provide an overview of fundamental functional changes
• To provide a demonstration of new functional screens
MSS Training Update
− The JSE will be offering Conceptual and User Training in Cape Town during 2007, prior to
Go-Live.
©
8
Release B:
Progress Made to Date (Cont.)
Equities Clearing Update
− Design Close-out:
• Functional specifications completed and signed-off.
• Technical interface specifications completed.
• This concludes all of the design portions for the Equities Clearing application.
− Update on Code Delivery:
• Final code drop, including bug fixes, has been received and installed.
− Training:
• Internal training with the Clearing and Settlement Division has commenced on the
installed application.
• Clearing training is due to commence early 2007.
• ECS training manuals have been delivered and are currently under internal review.
©
9
Release B:
Progress Made to Date (Cont.)
Data Conversion Update:
− Conversion design specifications for the Market Services Solution Corporate Actions module
are still in progress. Specifications for data covering the rest of the Market Services Solution’s
modules have all been finalised.
− Specifications detailing the Data Reconciliation requirements are currently in progress. These
specify the data extracts and reporting metrics that will be used to verify the converted data
between the source systems and the Market Services Solution.
− Activities covering the build and unit test of the numerous components to source and transform
the data for these modules that have completed design, is well underway
− Conversion testing activities are currently in progress where data from select brokers is being
converted into the Market Services Solution based upon the conversion rules specified in the
conversion design specifications.
©
10
Release B:
Progress Made to Date (Cont.)
Surveillance System Update:
− User Functional Specifications have been signed off.
− Technical Specification development in progress.
− Business Functions to be tested across all Surveillance modules have been identified.
Update on Technical Specifications to the Market:
− MSS API Specs
• All the interface specifications have been published and are final
− All MSS Dissemination Specs are final
− Please forward any queries relating to:
• Dissemination Specs: [email protected]; and
• API Specs: [email protected]
Testing Update:
− ECS Systems Test Preparation and Execution by Accenture is completed for all ECS
modules.
− System Test Preparation of Test Models and Test Scripts for all other Release B systems are
in progress.
− System Test Execution for other Release B systems expected to start Q1 2007.
©
11
Bandwidth Requirements:
Context & Assumptions of the Testing
LANmetrix (LMX) conducted a bandwidth test on the MSS on 23/11/2005.
− The test was conducted on the Market Services Code Drop Environment utilising a network
sniffer that was inserted into the Local Area Network and configured to record all traffic
flowing between the user workstation and the MSS terminal server.
On 27 February 2006, representative workload scenarios were constructed and agreed to
represent a typical workload of an MSS user, during a typical day, in a fully deployed MSS
environment.
LMX has conducted a new simulation/modelling exercise which combines the recorded
transactions with the new scenarios.
MSS is being deployed over Microsoft terminal services which will result in a Bandwidth (BW)
increase over BDA.
The BW consumption of the application would be related to the intensity of use and the usage
patterns of the MSS.
Reporting usage patterns will have a significant impact on the BW consumption.
The BW usage would naturally increase with the number of users concurrently operating across
the network.
Therefore the approach was to simulate a series of scenarios which are believed to be
representative of typical user scenarios in the application.
Further details on the testing and on the scenarios can be made available on request.
©
12
Bandwidth Requirements
(Cont.)
 Application Performance - Summary of Simulation Results
©
13
Bandwidth Requirements
(Cont.)
Summarized Conclusions of the Testing Exercise:
 In summary the recommendations coming out of the test were:

For less than 2 users, a 64kbps link is sufficient.

For 3-40 users, bandwidth requirements increase in increments of 128kbps for every 5
additional users or less.

For more than 40 users, requirements grow in increments of 64kbps of bandwidth per 5
users over and above the 1Mbps link required for the 40 users.
 The recommendations above can be used to calculate the required bandwidth to
support any number of users.
 E.g. BW for 57 users
= [40/5*128] + [17/5*64]

= [8 * 128] + [4 * 64]

= 1280 kbps
©
14
QUESTIONS?
Refer all Release B queries to
[email protected]
Copyright© JSE Limited 2005
www.jse.co.za
Release C
Time Line
We are here
2006
Q2
2007
Q3
Q4
Q1
Q2
Q3
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
JSE
Formal Integration Testing
JSE
Internal Training
JSE
Activities
Member
Informal User
Testing
Activities
Draft API Specs
Draft IP Readiness
Requirements
Formal User Testing
(FE & API)
Important
upcoming
activities
User Training
Final API Specs
Weekend Dress
Rehearsals
Final IP Readiness
Requirements
Contingency
C
Draft EOD Specs
©
Final EOD Specs
Proposed
C
Proposed
APD deployment
FDD deployment
16
RELEASE C
Status Update
JSE internal testing for Release C commenced in November
2006.
The training approach for members will be distributed to the
market before 15 December 2006.
The training booking requirements document will be distributed by
end January 2007, highlighting the training dates and timeslots.
The JSE intends to start training by end February 2007
We would like to remind all users to review the API Specification
and User Connectivity documentation.
The final API Specification document is expected to be issued
mid-December 2006.
©
17
RELEASE C
Connectivity Requirements
New connectivity requirements in terms of Release C of project
Orion entails the following:
All trading members are able to access the new system via their
existing lines to SAFEX. The new system runs off TCP/IP, trading
members need to in conjunction with the JSE, load the TCP/IP
protocol on these circuits. Routers currently support the IP
protocol thus it should only be a configuration issue.
The JSE has contracted an external company to conduct
independent testing and verification of bandwidth requirements.
Once these are complete the JSE will publish the bandwidth
requirements which may result in members having to increase
their line capacities.
©
18
RELEASE C
Connectivity Requirements cont.
Similarly a user may want to use their existing circuit for trading
(on the current SAFEX system) and testing on the new system
until go live mid 2007 – this may also require the increase in their
bandwidth (perhaps only temporarily) or to schedule their testing
outside of core trading hours as not to impact their production
systems.
The JSE is proposing to offer a potential solution for members
using the managed network through MTN Network Solutions.
This will ultimately result in members having more flexible ways of
connecting to the JSE (e.g. 3G, ADSL, leased line to a local POP
of MTN to reduce line costs, etcetera). Details of this will also be
communicated shortly here after.
©
19
QUESTIONS?
Refer all Derivative queries to
[email protected]
Copyright© JSE Limited 2005
www.jse.co.za
JSE EQUITIES TRADING SYSTEM REPLACEMENT
MARKET COMMUNICATION SESSION – CAPE TOWN
16 November 2006
Leanne Parsons
Copyright© JSE Limited 2005
www.jse.co.za
AGENDA
Equities Trading System - Market Communication
Background & Objectives
Functional Summary
Technical Summary
Project Timeline
Customer Testing
User Documentation
General
− Connectivity
− Online FAQ’s
− Technical Workgroup Meetings
− Further Market Communication Sessions
Questions?
©
22
AGENDA
Equities Trading System - Market Communication
Background & Objectives
Functional Summary
Technical Summary
Project Timeline
Customer Testing
User Documentation
General
− Connectivity
− Online FAQ’s
− Technical Workgroup Meetings
− Further Market Communication Sessions
Questions
©
23
JSE EQUITIES TRADING SYSTEM
Background & Objectives
The current technology and business agreements between the
JSE Limited (‘the JSE’) and the London Stock Exchange (‘the
LSE’) expire in May 2007.
The London Stock Exchange (‘the LSE’) is nearing completion
of a four year technology roadmap strategy to deliver systems
offering increased performance, scalability and reliability.
During 2005, the JSE Executive and Board agreed to retain the
LSE as the preferred supplier for the Equities Trading Solution,
based on their current track record of service delivery,
reliability, robustness and functionality.
Negotiations are currently in progress to refine and extend
these contracts.
Key technical and functional changes available in the new
system will provide more functionality and flexibility.
The JSE therefore needs to align itself to the LSE TRM project
and phases.
©
24
JSE EQUITIES TRADING SYSTEM
Background & Objectives
The LSE Technology Roadmap (TRM) is being phased in 4 releases:Release
Description
Status
JSE Impact
Release 1
Enhancements to the LSE
Corporate Data Warehouse
Completed
in 2003
No impact to JSE
Release 2
Migration of LMIL to Infolect
Completed
Sept 2005
JSE market migrated successfully
Release 3
Migration of Internal Monitoring
and Surveillance (IMAS) systems
WIP
Internal JSE regulation and support
staff will receive replacement
product – no market impact
Release 4
Migration of the Trading system
WIP –
2007 H1
JSE SETS and INFOWIZ market
migration (including InfoWiz
message changes)
©
25
JSE EQUITIES TRADING SYSTEM
Benefits
Equities Trading System will be the same technology running InfoWiz today - a
Microsoft .NET solution
Enhancements as a result of the new technology includes:
− Performance
» Reduce end-to-end latency
» Increase message throughput and processing
» Greater transparency
− Scalability
» Adding capacity seamlessly
» Message throughput
− Functionality
» Multi-product hooks – multiple markets across multiple assets can be added
later
» Multi-Functional – support for integrated cash and derivatives trading can be
added later
» Global capability – Full multi time zone, multi currency
©
» Open standards - able to support current interfaces as well as emerging
standards
26
JSE EQUITIES TRADING SYSTEM
Benefits
Enhancements as a result of the new technology includes:
− Impact
» Three common application interfaces unchanged (MC, SII, IRI)
» Fixed-width message formats and BDGs unchanged
− Availability
» InfoWiz has proven that new technology is robust to continue an
outstanding level of availability
» Extensive Internal Testing to prove the solution
» Active-Active, Active-Passive components across LSE data
centers
» Sub-second automated fail-over of service and components
» Loss of a full site – Less than 5 second interruption of service,
automatic recovery to just single site operation, market put into
selected period rule state
©
27
AGENDA
Equities Trading System - Market Communication
Background & Objectives
Functional Summary
Technical Summary
Project Timeline
Customer Testing
User Documentation
General
− Connectivity
− Online FAQ’s
− Technical Workgroup Meetings
− Further Market Communication Sessions
Questions
©
28
JSE EQUITIES TRADING SYSTEM
Functional Summary
Functionality Enhancements applicable to the JSE Market
− Market Structure
− Order Book Enhancements
− Trade Reporting
− Settlement Information
− Broadcast Interface
− Quote Book Enhancements (N/A to JSE market but included in JSE
Guidance Notes for completeness)
©
29
Functional Summary contd.
Enhanced Market Configuration
The new trading system builds upon the current structure to introduce Exchange and
Market tiers. This enhances the ability to differentiate between multi-market, asset
class and product:
NEW
Market
Used to describe the geographical elements of a
trading environment - its business calendar and time
zone the Market is operating in.
Segment
The Segment tier is used to define a set of Instruments
that follow the same trading model, e.g. an electronic
anonymous order-driven market.
Sector
The Sector provides a more granular level that defines
the group of Instruments within the Segment that
follow the same trading schedule.
Instrument
The lowest tier is used to describe the individual
tradable instrument itself.
©
JSE
ZA01
J1H1
AGL
30
Functional Summary contd.
Segment Population
5OX - Period
Rules for Market
Segment
5OK - Participant
in Market
Segment
5OB - Instrument
in Market
Segment
Market
segment
Periods
©
5OX- Period
Rules for Mkt
segment
5MS- Member
in Segment
5TY Trade Type
for Segment
Market segment
5IS- Instrument
Trading Data
Periods
5TM Tick Size Matrix
for Segment/
Currency
Old System
New System
Segment contains:
Segment contains:
Participants
Periods
Instruments
Members
Instruments
Trade types
Tick sizes
31
Functional Summary contd.
New Participant Structure
The new trading system introduces an optional 2 tiers to the Participant hierarchy
which support the identification of desks and/or individuals within a trading entity:
Member ID
The highest level Participant “entity”, intended to
correspond to the existing Participant Code (BIC
Code)
ABC
NEW
Trader Group
JSE default configuration for go-live is to assign the same
Member ID to the Trader Group Code. Trader Groups will
be disseminated on existing public messages as opposed
to the Member ID. Trader Groups must be populated on
the header of SII messages.
ABC01
Trader ID
Trader IDs will be validated on the new trading solution.
Trader IDs must be submitted into the system via the
header of secure interactive enter messages and will be
returned on secure interactive acknowledgement
messages.
54365
©
32
Functional Summary contd.
Normal Market Size (NMS)
NMS - Normal Market Size (REDEFINED)
− Normal Market Size will be the MiFID defined threshold used on an EU wide basis. For JSE
market, field will be left blank.
SMS - Standard Market Size (NEW)
− Standard Market Size is a new MiFID average order size threshold for firms conducting inhouse business (internalisation). For JSE market, field will be left blank.
EMS - Exchange Market Size (NEW)
− Exchange Market Size represents the value currently published as the NMS for JSE market.
Used to validate the Order/Quote size. EMS replaces all multipliers and obligations
associated with NMS and ensures publication of trades is in accordance with current
practise.
PTS - Publication Threshold Size (NEW)
− Publication Threshold Size allows a separate figure to be used for setting the volume at
which a Trade Report has its publication to the market delayed. Can have separate delay
times for different multiples of the PTS (e.g. immediate publication, one hour or one day
delay). Delay can be defined as being dependent on either volume and/or consideration.
− EG. In the JSE market , OP trades are delayed for 24 hours (unless pre-released) if the value
is greater than R500 000 and the volume is greater than 6 X NMS (on TRM this will be 6 X
EMS, where 6 is captured as the PTS)
©
33
Functional Summary contd.
Dynamic Tick Sizes
Dynamic tick sizes is new functionality available – however will not be
implemented for Go live of the JSE market.
This provides a range of price levels for each Segment, each associated
with a lower and upper band.
When submitting an order, the price must be a multiple of the tick size
allocated to the range it belongs to. If the price of an order does not match
the tick size associated to that price level it will be rejected.
The JSE:
− will continue to use the static Price Format Code of "W” (whole)
− will continue with automated trading in whole cents only
− Consider use of Dynamic Tick Sizes on an instrument by instrument basis for a
future release
©
34
Functional Summary contd.
Order book Enhancements - Order Handling
The new trading system supports four different order types to cover
every Market
Order
Name
Order
Type
Priced
Anonymous
Hidden
Volume
Applicable
to JSE
Limit Order
LO
Y
Y
N
Yes
Market Order
MO
N
Y
N
Yes
Iceberg Order
IB
Y
Y
Y
No – future
release
Named Order
NO
Y
N
N
No
NEW
©
35
Functional Summary contd.
Order Book Enhancements - Validity Types
Validity is categorised into 3 different types:− Execution based validity (‘Execute & Eliminate’ and ‘Fill or Kill’)
− Time based validity (Good Till Time - GTT & Good Till Cancelled - GTC) and
− Period based validity (introduces the concept of Parked Orders)
Validity Type
Description
Behaviour (Add)
Behaviour (Remove)
GFD
Good for Day
Immediately posted to book
Deleted at closing period
ATO
At the Open
Parked for injection at the start of
the next opening auction
Deleted at end of opening
auction
ATC
At the Close
Parked for injection at the start of
the next closing auction
Deleted at end of closing
auction
GFA
Good for Auction
Parked for injection for the next
available auction (Open, Close,
Intra-Day or Volatility Auction)
Deleted at end of auction
GFX
Good for
Intra-Day Auction
Parked for injection at the next
scheduled intra-day auction
Deleted at end of auction
NEW
©
Period based validity types
36
Functional Summary contd.
Order Book Enhancements - Order modification and deletion
The new AB version of the 5DS ‘Delete Single Order’ message will return a 5D2
‘Acknowledge Order Delete’ message that identifies the size of the order that was removed
(Remaining Order Size Before Deletion)
Persistence of market orders – New system will automatically remove all unexecuted
market orders prior to moving into continuous trading
Order modification – The Table shows the differences in the way private order codes and
price/time priority are handled in the new system.
Order
modification
Current Trading System
New Trading System
Order size is
increased.
Order loses time priority
Order loses time priority
Private order code is updated
Public order code is updated
Private order code is maintained
Public order code is updated
Order loses time priority
Order maintains time priority
Private order code is updated
Public order code is updated
Private order code is maintained
Public order code is maintained
Order size is
decreased.
©
37
Functional Summary contd.
Order Book Enhancements - Basket Messages
Optional functionality for the JSE market, can be implemented into trading frontends as and when user solutions are ready.
New system supports the ability to enter multiple orders through the use of a single
5BO ‘Basket Instruction for Enter Order’ message.
Each individual order must belong in the same Segment (as Segment Code is
identified in the message header).
Each order will be processed and acknowledged individually using 5E4
‘Acknowledge Order Details’ message, and each provided with individual order
codes.
It is possible to submit a basket modification using the 5BM ‘Basket Instruction for
Modify Order’ message. This will be acknowledged with a 5M7 ‘Acknowledge Basket
Instruction for Modify Order’ message. These will be treated as individual
modifications to the orders specified.
©
38
Functional Summary contd.
Order Book Enhancements - Mass order deletions
Decommissioned Messages
5DT ‘Delete all orders for a Tradable Instrument/Currency’ message will no longer
be supported by the new system.
5DA ‘Delete all orders for Participant in Sector’ message will no longer be
supported by the new system.
Replacement Message
5DO ‘Delete all orders for Trader Group in Segment’ message enhances current
functionality to offer the ability to extend the breadth of orders included in the
request (from Sector to Segment), and to narrow the Participant wide impact
down to an individual Trader Group.
NOTE: Current single order delete functionality remains as is.
©
39
Functional Summary contd.
Trade Reporting – Trade Type Validation
Eligible trade types for segment
− Currently restricting the range of trade types within a particular segment impacts all
participants enabled in that segment eg: the NX trade type can not be used in JSE
Segments (ZA01, ZA02, ZA03 and ZA04).
− Note applied currently in the JSE market – however an extension of functionality –
the new system introduces a further restriction through the use of ‘role’ e.g. a
Marker maker registered in the security being given sole use of the block trade type
for this instrument.
Price Validation
− Validation of the Price submitted for a Trade Report against a pre-determined
tolerance around the previous closing price. If the price falls outside of this range it
will be rejected.
− This validation is based on a multiplier; i.e. if the multiplier was 10 and closing price
was 300 ZAC, the system will reject any price less than 30 ZAC (300/10) and any
price greater than 3000 ZAC (300*10).
− The JSE will NOT implement this functionality from Go-live but will consider it for a
future release.
©
40
Functional Summary contd.
Trade Reporting – Trade Cancellations
Currently you cannot link the public contra CT trade type to the original trade cancelled
by a participant, as the CT is assigned a new trade code.
In the new system, for an automatic trade (AT) the contra is handled differently and will
allow specific identification (linking) of the erroneous trade.
The new system will treat the contra as a status change to the original trade,
specifying the original trade code.
This will be accomplished through the publication of a ‘cancel trade report’ message,
with a broadcast update action of D (DELETE) – rather than today, where a new ‘CT’
trade report is published with a broadcast update action of A (ADD).
©
41
Functional Summary contd.
Trade Reporting – Dual-Sided Trade Reports
The current JSE Dual Sided Trade Reporting process will remain as is.
The current JSE Single Sided Trade Reporting process remains as is, however the valid
counterparty codes will change to “INTRAFIRM1” and “NON-MEMBER1”.
©
42
Functional Summary contd.
Settlement Information - Settlement Account and Venue
The new system provides the ability to submit a Settlement Account and Venue on an
Order record which can be used downstream for routing Settlement information to a
specific settlement venue
Settlement Account is a mandatory field on the new 5EO (Enter Order) messages
and must be set to "S" for the JSE market
Settlement venue must be left blank on the new 5EO (Enter Order) messages for
the JSE market. It will be defaulted by the trading system to an agreed JSE value
(JCP).
©
43
Functional Summary contd.
Broadcast Interface - Disaster Recovery
Today, in a disaster scenario, the 5RD ‘Disaster Recovery’ message is used to flag
when messages should be processed regardless of whether the sequence number
has been processed previously and the recovery process having been invoked.
The new system will ensure that all messages are synchronised with the alternative
site, and guarantees that all re-sent messages will have the same sequence
number.
This removes the requirement to flag those messages newly originating from the
alternate site; therefore this message and process of recovering will be
decommissioned.
In the event of a total site failure, the JSE may still opt to invoke a HALT period.
©
44
Functional Summary contd.
Period Rules
The trading system currently allows a maximum of 3 auction extensions and these
follow a strict sequence of combinations, which in turn are dependant on what
extensions have already been triggered.
The new system functionality treats the method of extensions differently, with no such
restrictions on the number of extensions and allowing these extensions to be triggered
according to market conditions at the time
A Market Order extension will continue to take priority over Price Monitoring
extensions. However, for markets that have a maximum of three extensions to an
auction, a Market Order extension can now take place, even after two Price
Monitoring extensions have occurred.
NOTE: Current JSE period extension rules will apply for go live, the JSE will re-visit
the above for a future release.
©
45
AGENDA
Equities Trading System - Market Communication
Background & Objectives
Functional Summary
Technical Summary
Project Timeline
Customer Testing
User Documentation
General
− Connectivity
− Online FAQ’s
− Technical Workgroup Meetings
− Further Market Communication Sessions
Questions
©
46
Technical Summary
Message Impact Summary
SERVICE
J01
B10
J02
J03
B11
J10
J11
J20
J21
J22
J23
J24
J25
J50
J51
N01
N02
N03
N04
TOTAL
CURRENT
JSE
NEW
NEW
COUNT
DECOMM MSGS
VER
InfoWiz - Public Real Time Feed
3
DR
5
4
8
8
6
4
6
5
6
5
4
11
8
6
4
7
6
6
4
DR
6
DR
3
DR
8
DR
3
DR
3
DR
7
DR
5
DR
3
DR
20
2
3
DR
5
DR
112
45
39
SII
GRD TOT©
JSE SETS - Private Trading Feed
46
11
26
16
158
56
65
16
NEW
COUNT
2
9
6
7
12
6
6
3
5
2
7
2
2
6
4
2
18
2
4
105
61
166
J02
B11
J10
B10
Period Rules not backward compatible
Tradable Instrument Reference Data
Period Rules not backward compatible
Tradable Instrument Reference Data
NOTES:
DR – indicates BDG’s where the only change to
the BDG, is the removal of the ‘DR’ message.
(included in total counts)
Messages included in more than 1 BDG have been
included in totals for both BDG’s
SII – totals include all messages counts, including
Quotes and & Enhanced Dual Sided Trade Reports
not implemented in the JSE market
47
Technical Summary contd.
Interactive Services
The new system includes a number of enhancements identified during customer consultation in
order to facilitate trading:
Service Codes - Only certain messages and message versions are enabled for certain Service
Codes. Current JSE service codes are T01 and T02. As part of TRM, the JSE will use T02, T03 and
T04. T01 will be decommissioned for JSE users.
Unsolicited connection status - This field is included in the business header for all interactive
messages sent from the Exchange to the Participant. This field indicates that the Participant has
stopped acknowledging unsolicited messages and will therefore no longer receive them
Own Order Book Download (OOBD) - A new AB version of the 5RO ‘Request Order Download’, 5OF
‘First Order Download response’ and 5S1 ‘Subsequent Download Response’ messages that provide
additional information not currently included with the AA version
Own trades book download (OTBD) - OTBD is a new service offering similar functionality to the
current Own Order Book Download (OOBD). This provides a Trader Group the ability to request a
download of their Trade book (automated and reported)
©
48
Technical Summary contd.
High Level Impact Summary
Broadcast Data Groups
The current BDGs will remain unchanged with the exception that some messages will be
decommissioned and new messages being introduced.
Bandwidth
Bandwidth allocation is reviewed on an ongoing basis but is not expected to increase
specifically for the changes described in this document.
IP Addresses
The existing IP Addresses and Ports will be maintained for the production environment. New
enablements and IP addresses will be used for the new testing services.
Service Codes
New Service Codes will be introduced for the Interactive and Secure Interactive Interfaces.
Participant Code
Participant Codes will be replaced with Member ID and Trader Group. However to minimise
impact, these can both be set to reflect the current Participant Code.
User Service Access
Point
Existing USAPs can continue to be used, although they may be changed during the migration,
if required.
Key Encryption Keys
(KEK’s)
The current method of authentication will be supported on the new system and all existing
keys will remain valid for testing and production purposes. KEKs will remain associated with a
specific USAP regardless of how many Trader Groups are configured.
Interface Specification
The existing Broadcast, Interactive and Secure Interactive interfaces will continue to be used.
No additional interfaces are being introduced.
©
49
Technical Summary contd.
High Level Impact Summary
Message Specification
The underlying specification is unchanged from today. New message protocols such as FIX may
be introduced in addition to the current specification at a later stage.
Message Headers
All existing headers will continue in their current format. A number of reserved fields are
being used but will not impact the size of the header message.
Message Types &
Versions
Many of the existing messages will continue to be used. A number of new message types and
versions are being introduced, and some are being decommissioned.
Field Descriptions
New fields are being introduced for new and existing messages and some existing fields are
being renamed with new descriptions defined.
Advisory Codes
New session and application advisory codes are being introduced; existing codes may be used
in a different context to today and may be received in a different order.
Segment Codes
No changes or new Segments for the JSE market.
Sector Codes
No changes or new Sectors for the JSE market.
Period Names
New Period Names and Codes will be introduced in addition to existing Periods, with some
periods being deleted.
©
50
Technical Summary contd.
Reference Data – Instrument Data
Reference data restructure and consolidation to support the new functionality
Current Reference
New Reference
Current Reference
New Reference
Data Msgs
Data Message
Data Msgs
Data Message
5OA
5OB
Tradable Instrument
5OC
Company Info
5OB
TI / Currency in Market
Segment
©
TI/ Currency
in Market Segment
5ER
5ER ‘Instrument
Background Data’
5IS
5IS ‘Instrument
Trading Data’
5CT
Tradable Instrument
Control
51
AGENDA
Equities Trading System - Market Communication
Background & Objectives
Functional Summary
Technical Summary
Project Timeline
Customer Testing
User Documentation
General
− Connectivity
− Online FAQ’s
− Technical Workgroup Meetings
− Further Market Communication Sessions
Questions
©
52
Project Timeline
2007
2006
Oct
Sept
Aug
Dec
Nov
Feb
Jan
Mar
Start Date 7 Aug
6 Weeks 21 Aug – 30 Sept
JSE Analysis & Design
9 weeks 18 Sept – 17 Nov
JSE Development
JSE System Testing
TALX Analysis
& Design
JSE Development
5 Weeks 20 Nov – 22 Dec
JSE/LSE Prepare and Execute
Integration Test
JSE System
Testing
Prepare and Execute Business
Operations Proving
Prod Infr Readiness
Test Infr Readiness
9 Weeks 2 Jan – 2 Mar
Dress
Rehearsal
EAS
LIVE
CTS
LIVE
Dress
Rehearsal
New
JIMAS
Dress
Rehearsal
Design, Build and Test of Data Vendor / Member Solutions
Customer Conformance
User Readiness Actions
COMMS
COMMS
COMMS
GO LIVE
TWG
©
TWG
TWG
TWG
TWG
TWG
TWG
End Mar
53
We are here!
Project Timeline
Key Dates
14 August 2006
Kick off JSE SETS TWG session
25 August 2006
Kick off InfoWiz TWG session
8 September 2006
JSE Market Guidance note published
15 September 2006
JSE Market Communication Briefing
9 October 2006
New Enhanced CTS Go live
6 November 2006
New Enhanced Conformance Go Live
27 November 2006
Early Access Service Go Live (EAS = New Prod Environment)
End January 2007
Target date for all solution providers to be conformed
February – March 2007
Mandatory Production Dress Rehearsals (including LCON’s)
17 Feb 2007 & 10 Mar 2007
March/April 2007
JSE Go live – Release 4.1 (current functionality plus)
26 Mar 2006 with contingency 2 Apr 2007
Second Half 2007
JSE TRM Release 4.2 Go live – Release 2 Value Add functionality
*Note: These confirm technical go live dates, functional go live for some new functionality to be confirmed
©
54
AGENDA
Equities Trading System - Market Communication
Background & Objectives
Functional Summary
Technical Summary
Project Timeline
Customer Testing
User Documentation
General
− Connectivity
− Online FAQ’s
− Technical Workgroup Meetings
− Further Market Communication Sessions
Questions
©
55
Customer Testing
New System Enhanced CTS
New enhanced CTS environment supporting the new system functionality has been
implemented
Run in parallel to current CTS service to support user software development and testing
Connectivity to this enhanced CTS service will be facilitated through existing user test lines
Standard booking and conformance process and procedures will apply via Customer Support
Accredited Software Providers will conform their solutions once, then roll out SW to all their
clients
Legacy CTS service will be decommissioned post the successful go live of the system
Early Access Service (EAS) is the new production environment to which access will be
facilitated for testing prior to go live. Prerequisite to connect is conformed software.
New System Customer Development Service (CDS)
Services available for the new system enhanced CTS environment being introduced:Legacy Service
New Service
Live Simulation Service
Live Simulation and Training Service
(LSTS)
x
Model-based Testing Service (MBT)
x
Training Service
Scripted Scenarios Service
Customer Specific Service
©
Volume Input Service
Not offered
JSE
56
Customer Testing contd.
New System Enhanced CTS
Live Simulation and Training Service (LSTS)
The Live Simulation and Training Service (LSTS) is “live-like” and as such
provides a quote and order book with the configuration of the live service,
containing live securities, live service segments, live service timings and full
service rules
A testing tool (ICTT) will enter background orders to ensure that a minimum
level of order book depth and trading activity is always present across certain
key segments
Reference data will be refreshed weekly from the Production service. To
prevent a live data overlay whilst testing trial configurations, functionality will be
introduced to dynamically “ring-fence” segments. This allows the preservation
of changes made in LSTS prior to deployment on the live system.
The ICTT tool will be used to ensure that a minimum level of order book depth
and trading activity is always present across key segments
©
57
Customer Testing contd.
New System Enhanced CTS
Conformance Service - High Volume Service
HVS testing is divided into three parts:
− Dissemination of HVS reference data
− Disseminate a High Volume of messages according to the message profile
agreed with the business
− Forced re-request confirming that the interactive aspect of the customer’s
system is working correctly and ensuring that any messages missed during the
High Volumes test have not been ignored by the customer’s system
©
Cycle No
Brief Description of Cycle
HVS Part 1
Reference Data Downloads
HVS Part 2
High Volumes Data Dissemination
HVS Part 3
Forced Re-request
58
Customer Testing contd.
Trading Conformance
Test Cycles will be introduced or removed according to their fit with live system
functionality.
©
Cycle ID
Title
Old Cycle
ID
T01
Empty Order Book and Empty Trades Book Download
New
T02
Pre-Market Trading
T01
T03
Logon/Logoff and Loss of Secure Interactive Session
T02
T04
Limit Orders
T08
T05
Execute and Eliminate Orders
T09
T06
Fill or Kill Orders
T10
T07
Iceberg Orders
T10a
T08
Committed Principal Orders
T11
T09
Client Order Reference Modification
T12
T10
Order Deletions/Empty own Order Book Download
T13
59
Customer Testing contd.
Trading Conformance
Trading Conformance continued…
©
Cycle ID
Title
Old Cycle
ID
T11
Basket Instruction for Enter Order
New
T12
Firm Quotes
T15
T13
Executable Quotes
New
T14
Basket Instruction for Enter Quote
New
T15
Trade Reporting
T16
T16
Single-sided Trade Reporting
T17
T17
Dual-sided Trade Reporting
T18
T18
Full Dual-sided Trade Reporting
New
T19
Error Messages
T21
60
Customer Testing contd.
Trading Conformance
Decommissioned Trading Cycles
©
Cycle ID
Title
T04
Indicative Exposure Orders
T05
Firm Exposure Orders
T06
Hit Orders
T07
Passive Market Orders
T14
Indicative Quotes
T19
Company Information
T20
Control Information
61
Customer Testing contd.
Information Conformance
Information Conformance
Cycle ID
Title
I01
Start of Day Download
I03
Logon/Logoff to Interactive Request Session
I04
Loss of Broadcast and Interactive Request Sessions Rebroadcast
I05
Missed Messages without Loss of Session
I06
Component Failure, Rebroadcast
I07
Indicative Trading, Ex-Markers and News
I08
Firm Trading, Trade Reporting and Uncrossing
I09
Close of Day and Market Changes
The current I10 Disaster Recovery cycle will be decommissioned
©
62
AGENDA
Equities Trading System - Market Communication
Background & Objectives
Functional Summary
Technical Summary
Project Timeline
Customer Testing
User Documentation
General
− Connectivity
− Online FAQ’s
− Technical Workgroup Meetings
− Further Market Communication Sessions
Questions
©
63
User Documentation
JSE Market Guidance Note
URL: http://www.jse.co.za/jse_initiatives/jsetrad_info_sys/index1.htm
Any recommendations and questions concerning the content detailed in this draft pack may be
addressed to: [email protected]
#
Document Name
File Name
Document Objective
Updates
1
JSE TRM Covering Letter
1_JSE_TRM_Covering_Letter
_V0.2.doc
An introduction to the JSE TRM project and related
Guidance Note pack.
Created
2
JSE TRM Guidance Note
2_JSE_TRM_Guidance_Note_
V0.6.doc
A consolidated overview of all the changes being
implemented with the transition to the new trading
system.
Created
3
JSE TRM Guidance Note
– Appendix A – Broadcast
Message Layouts
3_JSE_TRM_Guidance_Note_
Appendix_A_V0.1.doc
An overview of message layouts for all new broadcast
message types and message versions available with the
new trading system.
Created
4
JSE TRM Guidance Note
– Appendix B –
Interactive Message
Layouts
4_JSE_TRM_Guidance_Note_
Appendix_B_V0.1.doc
An overview of message layouts for all new Interactive
message types and message versions available with the
new trading system.
Created
5
JSE TRM Guidance Note
– Appendix C – Field
Definitions
5_JSE_TRM_Guidance_Note_
Appendix_C_V0.1.doc
An inventory of those data fields that form part of
Appendix A and B defined message layouts.
Created
6
JSE TRM Guidance Note
– Appendix D – Advisory
Codes
6_JSE_TRM_Guidance_Note_
Appendix_D_V0.1.doc
An inventory of available advisory codes
Created
7
JSE TRM Guidance Note
– Appendix E – Message
Matrix
7_JSE_TRM_Guidance_Note_
Appendix_E_V0.12.xls
An inventory of new, changed and decommissioned
messages.
Created
©
64
User Documentation contd.
Customer Test Documentation
Customer Test Documentation will be published next week
New Enhanced CTS Market Guidance Notes
CTS Conformance Scripts and procedures
Model Based Testing
©
65
Equities System Project
Food For Thought….
As at today 16 November 2006 there are:− Only 6 Mondays left this year
− 25 working days to Christmas
− 18 weeks to the Go Live
− 92 Business days to Go live
− 64 Business days to the 1st Dress Rehearsal
− 79 Business days to the 2nd Dress Rehearsal
− 78 Conformance slots to the 1st Dress Rehearsal
− 96 Conformance slots to the 2nd Dress Rehearsal
− 108 Conformance slots to Go Live
− PLEASE GET YOUR CONFORMANCE BOOKINGS IN EARLY !!!
©
66
Questions?
Refer all Equities TRM queries to:
[email protected]
Copyright© JSE Limited 2005
www.jse.co.za
JSE MANAGED NETWORK PROJECT
MARKET COMMUNICATION SESSION – CAPE TOWN
16 November 2006
Leanne Parsons (JSE)
Mike Brierley (MTN)
Copyright© JSE Limited 2005
www.jse.co.za
AGENDA
Managed Network – Market Communication
Project Background and Objectives
MTN and Solution Overview
− Company Overview
− Telecommunications: Today and Tomorrow
− MTN Solution Offering
Internet Phase
International Links Phase
Customer Network Phase
− Environment
− Draft Costing
Questions
©
69
AGENDA
Managed Network – Market Communication
Project Background and Objectives
MTN NS and Solution Overview
− Company Overview
− Telecommunications: Today and Tomorrow
− MTN NS Solution Offering
Internet Phase
International Links Phase
Customer Network Phase
− Environment
− Draft Costing
Questions
©
70
JSE MANAGED NETWORK
Project Background
The JSE Managed Network project was established following a high level assessment of the
overall JSE network architecture in order to:
− find ways of optimising customer connections to the JSE and
− manage the impact of increased bandwidth requirements to JSE customers due to the
implementation of new Orion applications (e.g. the Market Services Solution and
Derivatives Trading Solution).
In April 2005 the JSE embarked on a detailed Request for Proposal and Vendor Selection
process to identify the most suitable partner to provide the best possible solution to the JSE
and its customers.
An RFP was issued to selected suppliers and evaluation and selection was based on criteria
including delivery capability and quality of plan, BEE credentials, cost, long term viability of
organisation, technology offered and innovation of solution offered.
MTN Network Solutions was selected as the preferred Managed Network Solution Provider.
©
71
JSE MANAGED NETWORK
Project Objectives & Phases
Objectives of the overall project include:
− Reduced complexity
− Improved support model
− Higher availability and redundancy
− Cost effective operations
The JSE Managed Network project is being implemented in 3 phases:
Phase
Description
1: Internet Connection
Transition of the JSE’s Internet connectivity to a solution using MTN NS for the
provision of local and international Internet bandwidth.
2: International Links
Transition of the international connectivity between the JSE and the LSE for
the JSE SETS system to a MTN NS solution including SAT2, SAT3/SAFE and
ISDN.
3: Customer Network
Provision to the JSE customers of an alternative connectivity solution (allowing
consolidation of customer network lines where appropriate) in order to manage
the envisaged costs of the bandwidth requirements for the Market Services
Solution and the Derivatives Trading Solution.
©
72
AGENDA
Managed Network – Market Communication
Project Background and Objectives
MTN NS and Solution Overview
− Company Overview
− Telecommunications: Today and Tomorrow
− MTN NS Solution Offering
Internet Phase
International Links Phase
Customer Network Phase
− Environment
− Draft Costing
Questions
©
73
JSE MANAGED NETWORK
MTN NS – Company Overview
MTN Group & Johncom acquire Citec a small ISP in June 2001.
National core network completely redesigned and rebuilt.
Company renamed to MTN Network Solutions.
Hosting facility in Rosebank opened in May 2003.
Certified as a Cisco Silver partner (2004).
MTN acquires 100% ownership (April 2005).
JUNIPER PARTNER
CISCO SILVER PARTNER
25 certified technical staff
6 x JNCIA
51 Cisco certifications
1 x JNCIS
4 x CCIE
21 x CCNA
7 x CCNP
2 x CCSP
2 x CCDA
2 x Wireless LAN
3 x WLAN Support
2 x CVOICE
1 x BCRAN
4 x CCSE (sales)
1 x INFOSEC
2 x BSCI
©
PROJECT MANAGEMENT CERTIFICATIONS
2 Certified Project Managers
74
JSE MANAGED NETWORK
Corporate Telecommunications: Today
Remote
Branch
Data
centre
Real-time data
Banking
Corporate
WAN
ISP
Real-time data
Intranet
Remote
access
PABX
Pico
Cell
ISDN
©
75
JSE MANAGED NETWORK
Corporate Telecommunications: Tomorrow
Remote access
Real time data
Banking
ISP
Voice
Cellular
Regional
Branches
Data
centre
Network
Service
Provider
VPN
WWW
Voice
switch
WLAN data and GSM voice extensions
Voice
& GPRS
©
76
JSE MANAGED NETWORK
MTN NS Solution Offering
Single, integrated MPLS network
− All points-of-presence reside within MTN switching centers
− Fully redundant core network
− High reliability and availability
Wide geographic footprint
Quality of Service implemented – end to end
Highly redundant local peering
Resilient international peering
©
77
JSE MANAGED NETWORK
MTN NS Solution Offering:
Building a Network for the Future
Reliable network
−
Strong SLA
−
High availability
−
QoS
Low cost providers
−
Efficient network
−
Massive scale
One converged network
−
Reduces capex
−
Improves scale
Wide product range
−
Full telco service offer
−
Single point of service and
account management
Manageable
−
©
Productive staff
78
JSE MANAGED NETWORK
MTN NS Solution Offering:
Redundant Core Infrastructure
Fully
Integrated Network
Left Network
©
Right Network
79
JSE MANAGED NETWORK
MTN NS Solution Offering:
Putting it all together
©
80
JSE MANAGED NETWORK
MTN NS Solution Offering:
Wide SADC Footprint
3 International POPs
17 SADC POPs
11 SA Cities
©
81
JSE MANAGED NETWORK
MTN NS Solution Offering:
Global Connectivity – Multiple Routes
©
82
JSE MANAGED NETWORK
MTN NS Solution Offering:
QoS
Differentiated Services Model – All traffic is not equal
Packet loss
Demoted Traffic
Best Effort
Assured Forwarding
Expedited Forwarding
All voice on the link will be affected
©
83
JSE MANAGED NETWORK
MTN NS Solution Offering:
Aggregated Services
Mission Critical Corporate Applications
Real-time Financial
Voice
Internet
©
84
JSE MANAGED NETWORK
MTN NS Solution Offering:
A Multi-Access VPN Strategy
Metro
Fibre
ADSL
Diginet
ATM
MTN
GSM
GSM
MTN NS
Core
VSat
©
A multi-provider strategy
Wireles
Wireless
s
Wi-max
Wi-Fi
Wi-max
Wi-Fi
85
AGENDA
Managed Network – Market Communication
Project Background and Objectives
MTN NS and Solution Overview
− Company Overview
− Telecommunications: Today and Tomorrow
− MTN NS Solution Offering
Internet Phase
International Links Phase
Customer Network Phase
− Environment
− Draft Costing
Questions
©
86
JSE MANAGED NETWORK
Internet Phase
The JSE currently uses two Internet Service Providers to provide its local and international
Internet bandwidth. In order to meet the requirement for an end-to-end solution, cost saving,
and a highly available Internet connection, the JSE will be implementing an MTN NS Internet
solution.
The new Internet solution will provide access to local Internet sites via multiple local access
points with international access provided via access points in New York and London. This
solution is provided on SAT3 with restoration over SAFE.
This implementation will not impact JSE customers but will result in higher availability of JSE
websites e.g. JSE, TALX, AltX, Extranet, Satrix, YieldX, SAFEX, etc.
The Internet phase has the following key activities:
Activity
Status
Prove business case for JSE to use MTN NS as internet
solution provider
Complete
Define and sign-off technical design
Complete
Conduct technical impact analysis for required change
control
Complete
Pre cut over activities (e.g. domain transfer and
registration, hardware purchase, cable installation and
configuration)
Work in Progress - Planned completion Dec 2006
Cut-over of Internet from current solution providers to
©MTN NS
Planned for Jan 2007
87
AGENDA
Managed Network – Market Communication
Project Background and Objectives
MTN and Solution Overview
− Company Overview
− Telecommunications: Today and Tomorrow
− MTN Solution Offering
Internet Phase
International Links Phase
Customer Network Phase
− Environment
− Draft Costing
Questions
©
88
JSE MANAGED NETWORK
Customer Network Phase:
Proposed Environment
A huge value proposition, offering savings, improved
reliability, converged services, and a single point of support
and management
Customer Network Design
JSE member
Benefits to Customers
Improved resilience on the access layer : Dual
Connect
Improved redundancy (reliability) in the network
core
Better utilisation of access capacity : Load
Balancing
Randburg
MTN NS
MPLS
Network
JSE
JSE
DC
Rosebank
NS
DC
Comprehensive monitoring and reporting
Quality of Service, enabling converged services
Future access alternatives : Diginet replacement
technologies
Improved access speeds : larger local leads
Cost effective solution
Capability to inexpensively add value-added
services
JSE member
©
JSE member
Multiple services through a single managed
interface
89
JSE MANAGED NETWORK
Customer Network Phase:
Future Environment
Bringing it all together: MTN NS – Africa strategy,
fully integrated mobile data, hosting, VoIP.
Small
branch
GSM
backup
ADSL
network
MTN
GSM
Networ
k
Head
office
JSE
MTN NS
MPLS
network
WWW
©
Africa
I-Net
Remote
branch
DR
Home
user
GPRS/EDGE
3G/HSDPA
90
JSE MANAGED NETWORK
Customer Network Phase:
Draft Costing
This section provides an indication of the costs that will be incurred by customers for the
Managed Network – these costs are indicative only and subject to JSE EXCO approval
of the Customer Network Business Case.
The Customer Network comprises of 2 main cost components namely:
− Bandwidth Fee: The fee payable for the use of the bandwidth inside the core MPLS
Network
− Management Fee:
connections/ lines
A fee payable per site/branch regardless of the number of
Customers connecting directly to the JSE POP will only incur a management fee, whilst
customers connecting to the MTN NS MPLS network will incur both a management fee and
bandwidth costs.
Directly connected to JSE
Management Fee

Connecting via MPLS

MPLS Core Bandwidth Cost
Not applicable
Cost per 64kbps of bandwidth
required - See table on next slide
Value Added Services: VPN
Extra R300 per 64kbps per month
No extra cost
Value Added Services: Internet
and Network / Security, etc
©
Pricing dependent on specific services required by customers but will result
in reduced costs as customer is already part of VPN.
91
JSE MANAGED NETWORK
Customer Network Phase:
Draft Costing
Applicable costs per month per 64kbps bandwidth in the MPLS Core Network:
RSA – National
kbps
Namibia
Total BW
Cost
Cost per
64k
Total BW
Cost
Cost per
64k
64
700
700
1850
1850
128
1400
700
3700
1850
192
2100
700
5550
1850
256
2800
700
7400
1850
320
3500
700
9250
1850
384
4200
700
11100
1850
512
5400
675
14400
1800
640
6750
675
18000
1800
768
8100
675
21600
1800
1024
10400
650
28000
1750
1984
20150
650
54250
1750
©
Please Note:
– Customers connecting directly to the
JSE will still incur Telkom costs
– Customers connecting to the MPLS
network will still incur Telkom costs for
the last mile
92
AGENDA
Managed Network – Market Communication
Project Background and Objectives
MTN and Solution Overview
− Company Overview
− Telecommunications: Today and Tomorrow
− MTN Solution Offering
Internet Phase
International Links Phase
Customer Network Phase
− Environment
− Draft Costing
Questions
©
93
QUESTIONS?
Refer all Managed Network queries
to: [email protected]
Copyright© JSE Limited 2005
www.jse.co.za
THANK YOU
Copyright© JSE Limited 2005
www.jse.co.za