NO 235 – SEPTEMBER 2012
52nd WFE Annual Meeting

WFE Focus September 2012

BOX Options Exchange connects to TMX Atrium

The BOX Options Exchange, TMX’s all-electronic equity options market, has joined TMX Atrium, the provider of infrastructure solutions for the financial community. Once connected to TMX Atrium platform, clients can access multiple liquidity centers enabling them to trade the full range of asset classes using a single international connectivity infrastructure.

Deutsche Börse becomes new network operator for CEESEG

Deutsche Börse and CEE Stock Exchange Group, the holding company comprising the stock exchanges of Vienna, Budapest, Ljubljana and Prague, have concluded a major IT agreement. From mid-September 2012, Deutsche Börse IT will act as network operator for the CEESEG and provide its ExServes CEESEG FIX Connectivity solution for connecting customers to the CEESEG FIX Gateway. This solution will allow Xetra and Eurex participants to connect easily to the CEESEG FIX Gateway via Deutsche Börse’s existing global trading network.

ISE completes roll out of implied order functionality

The International Securities Exchange has completed the roll out of implied order functionality for all products in its order book. The implied order functionality was introduced last May to a limited number of symbols and has conducted a measured roll out over the past three months. They significantly enhance ISE’s industry-leading complex order book by enabling greater interaction of multi-legged orders with the regular order book. This functionality has already tightened spreads on ISE’s regular order book, resulting in better executions for multi-legged orders and for regular orders.

Mexican Stock Exchange launches new trading system

On 3 September 2012, the Mexican Stock Exchange launched its new trading engine, MoNeT, which was developed internally by the Technology Division of the Exchange. It is a functional superset of the legacy system it replaces (Sentra) and it has radically improved technical attributes: average order-processing latency is around 90 microseconds and the currently installed capacity can handle up to 100,000 orders per second. MoNeT is a multi-market trading engine; it will be deployed in December 2012 in the Mexican derivatives market (MexDer). Compared with Sentra, MoNeT is 300 times faster.

Moscow Exchange presented its new Spectra trading platform

On 14 September 2012, Moscow Exchange announced the launch of its new trading platform Spectra to power FORTS and Standard markets. It is the first major software solution released after MICEX and RTS merged in December 2011. The new architecture based on a modular approach with segregated trading and clearing modules will also simplify the launch of new products. The launch of Spectra for the FORTS and Standard markets will increase the trading and clearing systems peak throughput to 30,000 transactions per second. The Moscow Exchange also recently announced plans to further upgrade its trading technology by building a next generation cross-asset high performance trading platform to go live in early 2015.

Moscow Exchange optimizes FIX/FAST protocol tools

Moscow Exchange Group and EPAM Systems, a global software engineering and IT consulting provider, have jointly finalized FIX/FAST solutions launched a year ago on the Exchange. The updated services have been designed to provide Exchange’s clients with market data and be used in electronic trading on the securities and FX markets. The main feature of the services is their tolerance to the number of clients served.

NASDAQ OMX to provide UK FSA with market surveillance system

The NASDAQ OMX Group and the Financial Services Authority, the UK market regulator, announced that the FSA has selected NASDAQ OMX’s SMARTS Integrity market surveillance system to further enhance the FSA’s monitoring of transaction reports across the UK’s financial markets. SMARTS Integrity will provide the FSA with a surveillance platform for the detection of market abuse across financial instruments admitted to trading on regulated or prescribed markets including any underlying derivatives.

NASDAQ OMX extends trading system license to Tokyo Commodity Exchange

On 20 April 2012, the Tokyo Commodity Exchange concluded an agreement with NASDAQ OMX. This agreement allows TOCOM to use the current trading system, of which license period expires in May 2014, for a maximum extended period of 5 years, until May 2019.

Stock Exchange of Thailand launches new trading system

On 3 September 2012, the Stock Exchange of Thailand launched its new securities trading system, called SET CONNECT, developed in-house. With greater capacity than the previous system, SET CONNECT is able to support the development of domestic and international new financial products. It upgrades the Thai capital market to meet international standards, while enabling global connectivity.