Strate and Iress integrate systems using OpenAPI and ISO20022 securities messages
Strate has collaborated with technology company Iress to integrate our systems using an OpenAPI (application programming interface) and ISO20022 message standards to ensure future compatibility, reduce costs and improve overall efficiency.
This cost-effective integration with Iress increases opportunities for our clients to digitally connect to Strate and reduce business costs.
Belinda Kasch, Product Manager for securities lending & borrowing at Iress South Africa, says, “We were looking to reduce the technical overhead costs of proprietary message interface management gateways currently connecting Iress and Strate.”
Iress provides software to over 100 000 businesses across the financial services industry in Asia-Pacific, North America, Africa, UK and Europe.
“Strate’s strategy is to provide a range of digital connections or channels to suit clients’ requirements,” says Rudi Steenkamp, Head of Technology and Data Management at Strate. “API integration with Iress enables an additional option for the market to integrate systems with Strate.”
As South Africa’s principal central securities depository, Strate digitally connects the financial market ecosystem with world-class technology platforms. In 2021, Strate securely transmitted 91 million messages and processed 7.5 million settlements with a value of R46 trillion, servicing over a thousand clients across various market segments.
“At Strate we work closely with our clients to introduce digital solutions to meet the evolving needs of the ecosystem. This is in keeping with our purpose of serving the financial markets,” says Greg Naicker, Head of CSD Services at Strate.