Moscow Exchange launches a new trading platform. Prime.
Moscow Exchange announced the launch of its new trading platform Spectra to power the FORTS market and Standard sector and enhance its clearing and trading system performance by the end of 2012.
"Spectra is the first major software solution released after the integration of MICEX and RTS. The development team incorporated the experience of the past ten years and addressed technological shortcomings and limitations of previously operated systems. Development of Spectra required major architecture re-design to streamline future development and enhancements", - states the announcement.
The launch of Spectra trading platform will allow for increasing the trading and clearing systems’ peak throughput to 30,000 transactions per second equalizing the parameters across all markets of Moscow Exchange.
The segregated trading and clearing modules and the new modular-based architecture will also simplify the launch of new products, and finally, will strengthen competitive power of new products and services offered by the Exchange.
One of the key requirements to develop Spectra was full back compatibility with the existing solutions used by brokers and their clients.
"Moscow Exchange is interested in introducing the state-of-the-art solutions and services that meet the global standards and make the Russian market more attractive both to local and overseas investors", - reports the announcement.
As it has been previously reported to “Prime”, Moscow Exchange is planning to launch a new technological platform for the FORTS market on October 15, 2012. The new platform will speed up acceptance and processing the orders from market participants.
The “Prime” agency’s source has told that the low operating speed of the existing platform for FORTS market causes complains from the market participants.
"In upgrading the platform Moscow Exchange will remove all shortcomings. There will be no technical glitches, but the new quality and faster process of filling orders", says the agency’s source. He also tells that the Exchange has been planning to introduce the new platform in the mid of October, but in fact the launch of the system “may be shifted to November”.
FORTS, the futures and options market of the Moscow Exchange, is a leading trading venue for derivatives in Russia and Eastern Europe.
Clearing is performed by Joint-stock company "RTS Clearing Center" specializing in clearing services on the derivatives market.
Currently, the derivatives with the following underlying assets are traded on FORTS: the RTS Index, MICEX Index, Russian Volatility Index, sector indices, shares and bonds of Russian issuers, the Russian Federation government bonds, foreign currencies, three-month MosPrime rate and commodities.