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The Jamaica Central Securities Depository, JCSD, successfully launched their newly integrated CSD solution on 2nd of December 2019 in parallel with the launch of a new trading platform for the Jamaica Stock Exchange, JSE. This represents the successful conclusion of the JSE’s project to replace their trading platform which started with the selection of the new platform in October, 2018.
The JCSD, one of Percival’s oldest customers in respect of their CSD solution, DEPEND, used tightly-coupled integration between DEPEND and their trading platform to handle the pre-validation of orders and the capture and reporting of trades in a direct STP link between the two systems. The new trading platform required that pre-validation take place in the trading system, so DEPEND needed to be customised to support the reversal of roles during daily trading activities so that the trading platform confirms changes of available balance that might arise during conventional CSD operations including off-market transfers, pledges, and other daily operations.
Integration of DEPEND with the trading platform covers a range of features beyond the requirements for pre-validation and trade capture. Through the integrated link with the trading platform, DEPEND automatically cedes control over balance validation for trading accounts during the trading day leaving JCSD full control over other accounts. Pricing information is automatically downloaded at the end of the day.
Percival managed the project, which culminated in an intensive period of testing before the launch.
