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WFE Focus December 2011

Australian Securities Exchange launches new trading system PureMatch

On 28 November 2011, the Australian Securities Exchange launched its new trading system PureMatch after having received the approval of ASIC, the Australian market regulator. The new system will provide an alternative order book mechanism for trading the most liquid cash market products which are traded on ASX’s TradeMatch. It will operate in parallel to ASX TradeMatch, the primary existing ASX order book through which trading in ASX takes place. It started with a soft launch, trading no more than 10 securities for at least two weeks.

Hong Kong Exchanges upgrades its trading system

On 5 December 2011, Hong Kong Exchanges and Clearing upgraded its securities market trading system AMS/3 from the current AMS/3.5 version to AMS/3.8. The upgrade will increase the trading system’s processing capacity over the current capacity by about 10-fold to 30,000 orders per second, scalable to 150,000 orders per second, and reduce latency to 2 milliseconds on an average trading day, about 70 times faster than present. Market transparency will also be improved as AMS/3.8 will display the 10 best price levels compared to the five best price levels in AMS/3.5.

ISE introduces quoting in its complex order book

On 1 December 2011, the International Securities Exchange enhanced its complex order book to enable market makers to provide two-sided quotes for complex, or multi-legged, instruments. This capability was developed as part of ISE’s implementation of the new Optimise trading architecture. ISE’s complex order book can accommodate multi-legged instruments with up to eight options legs along with a stock component. As a result of this latest enhancement, ISE market makers have more flexibility and control over the liquidity they provide in the complex order book.

Shenzhen Stock Exchange to launch new version of its trading system

The Shenzhen Stock Exchange recently celebrated the 10-year anniversary of the 4th version of its trading system. On this occasion, it launched the construction of the 5th version.

TMX Group improves equity trading performance
TMX Group has completed the second phase of its equity Enterprise Expansion project. This initiative is designed to provide customers with significantly improved trading technology and performance across the TSX Quantum trading system. The second phase of the project accommodates higher throughput and capacity at 40,000 order messages per second, doubling existing capabilities with the introduction of a second trading engine.

TMX Group’s Datalinx to provide Canadian issuer web solutions

TMX Datalinx, TMX Group’s Information Services division, announced that QuoteMedia has been selected as TMX Datalinx’s provider of issuer data solutions for Toronto Stock Exchange and TSX Venture Exchange listed companies. TMX Datalinx and QuoteMedia now offer a comprehensive set of issuer data solutions for corporate websites, ranging from quotes and charting packages to wide-ranging data suites, tailored to meet the needs of every issuer.

Tokyo Stock Exchange launches 3rd generation ToSTNeT system

The Tokyo Stock Exchange has launched the 3rd generation of its ToSTNeT (Tokyo Stock Exchange Trading NeTwork) system. Since its launch in 1998, it has offered investors a means of executing various transactions such as block trading and basket trading during off-auction hours. The main purpose of ToSTNeT has been to complement the auction market by handling orders for which smooth execution is difficult using the auction algorithms. Recent developments in trading technology have spurred the need to a 3rd system generation, enabling for greater diversity of eligible products, in particular.

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