NSX Stockbrokers switch to IRESS
All 4 Namibian stockbrokers have switched their front-end links into the local bourse trading system to the trading solutions supplied by IRESS, the Australian software company that specialises in the development of software systems for use in financial services.
IRESS said that the fully integrated solution incorporates order and execution management means that brokers no longer have to use multiple and legacy trading systems when managing orders on the local Namibian Stock Exchange and their institutional order flow to South African brokers for execution on the Johannesburg Stock Exchange.
Ridwaan Kharva, Head of Trading Solutions at IRESS explained, “having an integrated order-management system and execution platform creates a huge amount of efficiency in terms of both cost and workflow. We are delighted to include all Namibian brokers as IRESS exchange trading clients in addition to our presence in South Africa. IRESS has been connecting market participants for over 10 years and brokers in Namibia will now be able to benefit from enhanced trading capability, delivering improved speed and reliability with reduced cost.”
Order routing is fully managed by IRESS and delivered within a unified multi-market order-management system. Brokers can leverage IRESS’ international trading connectivity and seamlessly access counter-parties on the IRESS network, which includes many “buy-side” or institutional investors. Efficiency benefits include unified systems and no need to enter data twice or more, removing the potential for human data entry error.
IRESS has also supplied the NSX with IRESS Professional Market Data, enabling comprehensive market monitoring and analysis.