Technology sits at the heart of modern capital markets, and nowhere is that more evident than at the JSE. In the latest episode of Meet the CIO, TechCentral editor Duncan McLeod sits down with Tebalo Tsoaeli, the bourse’s group CIO, to unpack how technology underpins Africa’s largest stock exchange – and how it is evolving for a more digital, global and real-time future.
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Tsoaeli has spent his entire career in financial services technology, starting out as an application developer at Rand Merchant Bank before holding senior technology roles at Standard Bank, Investec, Nedbank, FirstRand and Sanlam. He became CIO of the JSE three years ago, bringing deep experience in large-scale, mission-critical systems to one of the most tightly regulated technology environments in the country.
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In the conversation, Tsoaeli reflects on his early exposure to computing and how a formal grounding in computer science shaped his career path. While he is clearly a technologist at heart, he explains how his role has evolved beyond pure IT delivery to focus on strategy, resilience, regulatory compliance and enabling market growth.
A major theme of the discussion is the JSE’s technology stack and how it has changed over time. Tsoaeli explains how the exchange now works closely with Amazon Web Services, moving away from a purely on-premises model to leverage cloud infrastructure for scalability, resilience and performance. He also addresses the question many market participants ask: can the cloud really be trusted with mission-critical exchange workloads, especially in a world where outages at global providers can have far-reaching consequences?
Latency and real-time trading are central concerns for any exchange, and Tsoaeli provides insight into how the JSE’s infrastructure supports the full trading lifecycle – from pre-market activity through live trading to post-trade clearing and settlement. He also touches on the exchange’s networking architecture and how it is designed to deliver predictable, low-latency performance for brokers and market participants.
The episode also explores the JSE’s strategic technology partnership with Nasdaq. Tsoaeli explains how this relationship operates at a technology level and what it has delivered so far, including support for market modernisation and international interoperability. Closely linked to this is the modernisation of the JSE’s Broker Dealer Accounting system, a project Tsoaeli describes as critical to improving efficiency, resilience and future-readiness.
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Given the highly regulated nature of financial markets, security and compliance are never far from the conversation. Tsoaeli outlines how the JSE balances innovation with stringent regulatory requirements, and what this means for data protection, operational risk and trust in the market.
Looking ahead, the discussion touches on cross-border capital flows, dual listings and the potential role of emerging technologies such as artificial intelligence and machine learning in trading and market operations – along with the risks that come with them.
Finally, Tsoaeli shares his perspective on what success looks like for the JSE’s technology journey over the next three to five years, how he sees the role of the CIO evolving, and – in a lighter moment – his favourite productivity hack.
Don’t miss any of the other great interviews on TechCentral’s Meet the CIO.
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