Previously, JOX conducted trading through a web-based system with limited functionality and integration capabilities. The exchange recognised that achieving its goal of market growth, particularly within the energy, commodity and investment banking trader communities, would require investment in specialist technology like GlobalVision.
Key features of GlobalVision include its multi-asset class capabilities, the ability to support cleared and over-the-counter (OTC) markets, integration capabilities for straight through processing, flexibility, and scalability, providing JOX with the capacity to expand into markets beyond Asia.
âThe 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,â says Kazunori Yamamoto, Chief Operating Officer at JOX. âWe 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.â Kazunori Yamamoto added âGlobalVisionâs 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.â
Elliott Piggott, Deputy Managing Director at Trayport, said âwe have seen increased interest from the Asian exchanges over the last year and are pleased to announce JOX as a new client to support in the oil sector. This implementation shows JOXâs recognition and willingness to adapt to meet the needs of its customers and markets. We aim to continue working closely with companies in this region and further build upon the services we can provide them.â