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Application Solution Provider User Brief

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... accredited Software Provider ... ASP provider is responsible for all first line technical and ... ASP solution must provide audit trails of messages ... – PowerPoint PPT presentation

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Title: Application Solution Provider User Brief


1
Application Solution Provider User Brief
JSE Trading Services
12 December 2002Version 0.5
2
Agenda
  • What is an ASP?
  • Objectives
  • Background
  • JSE Requirements
  • ASP Process Timeline
  • Costs Contracts
  • General
  • Questions

3
What is an ASP?
  • An Application Solution Provider (ASP) as defined
    by the JSE is a provider of shared infrastructure
    to JSE users for connectivity to JSE SETS
    InfoWiz systems
  • E.g . Shared infrastructure -
  • - servers
  • - routers
  • - communication lines
  • - networks etc

4
Objectives
  • The Purpose of this session is to
  • provide background into the initiation of this
    process
  • explain documentation required by the JSE
  • walk through theASP evaluation and approval
    process
  • Highlight ASP timelines
  • Costs and Contracts
  • define next steps

5
Background
  • JSE Securities Exchange has an obligation as a
    self-regulatory organisation to provide a
    reliable and fair market and recognises the need
    for market participants to reduce costs where
    possible
  • Software vendors have expressed an interest in
    becoming Equities Application Solution Providers
    (ASPs) by providing shared infrastructure to
    facilitate trading to customers accessing the JSE
    market (JSESETS InfoWiz)
  • The JSE has provided the framework and guiding
    principles under which market participants may
    share trading infrastructure
  • To ensure market integrity and stability, the JSE
    requires a full understanding of how the solution
    provider proposes to implement the solution which
    must be verified by the IT Auditor

6
JSE Requirements
  • Must be an accredited Software Provider
  • ASP solution must comply with JSE rules and
    directives, JSE User spec and other legislations
    that may apply
  • ASP provider is responsible for all first line
    technical and functional support to its users
    during JSE service hours
  • JSE provides first line support to the ASP only
    as they maintain the direct solution to JSE
    connection
  • ASP solution is responsible for security and
    confidentiality of data and system access
  • ASP solution must provide audit trails of
    messages sent/received
  • ASP solution must be able to identify originating
    source of messages submitted
  • ASP solution must not confirm messages to users
    unless confirmation received from JSE SETS
    InfoWiz
  • ASP solution must cater for peak bandwidths

7
JSE Requirements
  • ASP must participate in at least one JSE
    Alternate Site Recovery Test per year
  • ASP solution must pass LCON for every active
    connection namely primary, secondary, DRP
  • ASP must ensure adequate user training as
    required
  • ASP Clients accept full responsibility for all
    messages submitted through the solution
  • ASP will sign JSA contracts
  • ASP must pass conformance test from an
    environment that mirrors the production
    environment
  • ASP must be able to facilitate testing as
    required by the JSE from an environment that
    mirrors their production environment

8
JSE Requirements
Documentation Required
  • Equities Application Solution Provider
    Questionnaire
  • aimed at soliciting information for the JSE to
    make an informed decision on whether to approve
    the solution provider as a JSE Equities ASP
  • outlines JSE requirements
  • Requirements and Questions key principles to
    ensure
  • Market Integrity
  • Data Privacy
  • Security (data and access)
  • Market Fairness

9
JSE Requirements
  • Equities Application Solution Provider
    Questionnaire
  • The Equities (ASP) Questionnaire is divided into
    sections
  • Customer Support Service Management
  • Security
  • Monitoring
  • Authentication
  • Auditing
  • Communications
  • Time to Market

10
JSE Requirements
  • Detailed diagram of proposed Infrastructure
  • The diagram must include an explanation of
    connectivity and data flows between the end user,
    trading front-end and JSE SETS and InfoWiz
    systems. This should include an explanation and
    specifications of all Infrastructure components
    in use or proposed to be used
  • Additional supporting functional and technical
    documentation if required
  • Network Infrastructure diagram
  • Diagram that includes the IP addressing structure
    including routers, firewalls and switches
  • Letter of compliance from independent IT Auditor
  • The letter of compliance must verify that the JSE
    requirements are met

11
ASP Process Timeline
JSE Evaluation Team
JSE Authorising Team
12
Costs Contracts
  • Costs
  • 2 free conformance slots, additional are paid for
    at current rates
  • API server fees are payable by the ASP per server
  • Terminal fees are payable per client/per terminal
    as currently
  • IT Auditor costs are payable by the ASP
  • ASP Evaluation and Approval Costs
  • 1st Approval and Evaluation process -- R 20 000
  • If within 6 months of the first application
  • 2nd Approval and Evaluation process -- R 30 000
  • 3rd Approval and Evaluation process -- R 60 000
  • Contracts
  • ASP signs revised JSA
  • ASP Clients sign JIDA, FIDA, JSA (revised)

13
General
  • Auditors
  • PricewaterhouseCoopers is the JSEs auditor and
    understands the JSE environment, therefore the
    JSE has nominated PWC to conduct the independent
    audits of the solutions from the various solution
    providers on behalf of the JSE.
  • Audit will include
  • Understanding of the proposed solution Audit will
    include
  • Verification of the solution providers
    documentation submitted
  • Testing, if required
  • Security assessment, if required
  • Attack and Penetration test, if required
  • The result of the audit will be a letter of
    solution compliance and recommendstions
  • Other
  • Work is in progress to finalise JSE contract
    revisions
  • JSE Evaluation start date 10 Jan 2003
  • Documentation available on the JSE web site
  • JSE Initiatives/JSE trading and information
    systems

14
Questions
Refer Queries to tradingservices_at_jse.co.za
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