J-Oil Exchange (JOX), a Singapore-based exchange, has deployed trading software firm Trayport’s GlobalVision exchange trading system. This enables existing and new members to integrate with the exchange. The implementation maintains JOX’s existing bilateral settlement mechanism, and provides the ability to support cleared products across multiple asset classes on a single server application throughout Asia.
Previously, JOX conducted trading through a web-based system, which Trayport says had limited functionality and integration capabilities. According to Trayport, GlobalVision’s features –which include multi-asset-class capabilities, ability to support cleared and over-the-counter (OTC) markets, integration capabilities for straight-through processing, flexibility, and scalability – provide JOX with the capacity to expand into markets beyond Asia.
“The Trayport model appealed to us because the regular upgrades they make to GlobalVision mean our customers always have access to the latest technology and functionality,” said Kazunori Yamamoto, COO, JOX, in a statement. “We are currently evaluating ways to build our membership base and liquidity as well as increasing the number of supported instruments. Implementing the GlobalVision system provides us with the technical capacity and integration capability to achieve these objectives.”
He added, “GlobalVision’s experience in supporting energy and commodities across regulated and cleared exchanges was also attractive to JOX as this gives us further options to grow our business.”