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Definition

The London Stock Exchange's "Stock Exchange Trading Service" (SETS) electronic order book. The London Stock Exchange sold its Sets order-driven trading system to the Johannesburg Securities Exchange South Africa in a deal worth a minimum of R11 million in additional revenue for the LSE over five years. The deal specified the provision of core technology services by the LSE to the JSE and aimed to achieve easier access to each other's markets for both member firms and issuers. The JSE boosted revenue potential from data distribution once the new platform was installed at the end of 2001. The tie-up with the LSE enabled the South African exchange to extend its reach and the services it can offer to local brokers and investors while at the same time retaining its independence and control over the operation of its market. In July 2012 the SETS system was replaced by the Millennium system.

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