Avenir Technology Limited (avenir-technology.com), a global developer of post-trade Financial Market Infrastructure solutions, has today announced that it will be providing a comprehensive trading platform for The International Stock Exchange (TISE). Headquartered in Guernsey and with staff operating across Dublin, Guernsey, the Isle of Man, Jersey and London, the regulated marketplace specialises in listing bonds aimed at professional investors and is home to over 3,000 listings with a total market value in excess of £450 billion.

Developed as a multi-asset price discovery and trading solution, the new platform is designed to operate on an auction basis, but with the ability to configure and accommodate continuous trading if desired. This flexible structure will deliver all the necessary functionality and capacity required by the exchange to progress its strategic objectives. The technology will allow for a FIX API, enabling easy integration with brokers’ front office software, whilst also lowering the cost of connecting to the exchange.

Martyn Bain, director of Avenir Technology, commented:

“In recent years, TISE has grown to be a popular listing venue for securities issued internationally, including by some of the world’s most recognisable brands.  With our considerable experience of delivering high quality post-trade settlement systems to new and established exchanges across the globe, we know that this new trading platform will facilitate cheaper and easier connections to TISE, helping drive liquidity and in turn making the venue an even more attractive option for issuers.”

Cees Vermaas, CEO of TISE, added: 

“TISE is a major European bond market that continues to see record numbers of new listings and I am hugely excited that we are partnering with Avenir for the delivery of this trading platform. Both the auction and continuous trading features will enable us to deliver even greater value to our current issuers, as well as offering new products and services to a whole new range of potential clients. Avenir’s understanding of the requirements for building a modern and fully connected financial market infrastructure will make TISE an even more popular choice for investors and issuers alike.”

Delivery of the trading platform is expected to be completed later in the summer.

Avenir Technology Limited, a global developer of post-trade Financial Market Infrastructure solutions, has today announced that it is providing the technology for of a centralised forwards marketplace for farmers and millers across South Africa. Working in conjunction with South African agri-tech startup TonnUp (https://tonnup.co.za), the project leverages Avenir’s wealth of experience in developing commodity trading platforms by formalising a nationwide approach for matching agricultural buyers and sellers.

Brett Riley, COO of TonnUp, commented:

“We are developing a comprehensive range of trading services to meet the needs of South Africa’s expanding commercial farming sector, including the grain market which currently produces a crop of up to 16 million tonnes each year. With less than 25% of that currently being traded in a formal market, TonnUp will allow farmers to connect directly with buyers, removing the need for a middleman. The first stage of this process is the Forwards marketplace and Avenir’s extensive knowledge in this sector made them the natural counterparty for us to work with.”

Avenir’s experience in Financial Market Infrastructure spans the globe, including the deployment in 2016 of a warehouse receipt system for the African Commodities Exchange in Malawi. The company has also developed a proprietary trading platform – Avenir Trade – to provide a secure, flexible and scalable solution for commodity markets run on both a continuously traded and matched-bargain basis.

Stuart Turner, co-founder of Avenir Technology, commented:

“Modern technology provides a wealth of opportunity to improve efficiency across all financial markets and agricultural commodities are no exception. We are delighted to be working with TonnUp to help them develop an innovative solution, enabling producers to tap directly into the market in real time and as a result better manage their financial exposure.”

Access to the trading platform can be delivered across desktops, smartphones and tablets, whilst instant alerts can also be delivered via email SMS messages. The platform will be fully bilingual, with both Afrikaans and English language user interfaces on offer. The formalised structure enables multiple parties to use a common platform to strike a forward deal, agreeing the exchange of an asset at a specified price on a future date. Soybean and maize forwards will be offered in the first instance.

Switch from CREST to Euroclear for over 20 issuances to be powered by Avenir

Dublin, September 30th, 2020 – Avenir Technology (www.avenir-technology.com), a global developer of Financial Market Infrastructure solutions, has today announced it will be playing a key role in assisting a number of Irish issuers with their post-Brexit migration of listings away from CREST, the London Central Securities Depository (CSD), in the coming months.

One consequence of Brexit, the UK’s decision to exit the European Union, is that those Irish businesses who had previously maintained securities registers through CREST will no longer be permitted to do so. EU law mandates that all securities issued within the European Union must be held by securities depositories in the same jurisdiction. 

Stuart Turner, co-founder of Avenir Technology, commented:

“Our sister company Avenir Registrars has been representing a number of Irish issuers for some years and all corporate registrars will need to play a key role in ensuring that the CSD migrations take place in a seamless fashion. We have been working with them to re-engineer their underlying registry management systems, ensuring they will have the necessary interoperability with the Euroclear CSD, as well as providing an easy transit for securities between the two depositories.” 

The migration is scheduled to take place in March 2021, although requires each issuer to convene an AGM or EGM to pass the necessary corporate resolutions. The entire Irish securities market, including the UCITS funds, ETFs, bonds and equities which are currently settled through CREST, will be impacted by this move. 

Failure to meet these deadlines will result in securities no longer being eligible for electronic settlement or trading on a regulated exchange within the EU.

Companies migrating will obtain direct access to Euroclear Bank’s global CSD infrastructure, offering the highest levels of security combined with a truly global reach. At present, every six days, Euroclear settles transactions with a value equivalent to the EU’s total GDP.

Media contact : Tony Cross, Monk Communications, 

Tel +44 (0) 7973 284749, e-mail tony@monkcommunications.com