Nasdaq OMX announces INET next generation trading technology
Nasdaq OMX announces INET next generation trading technology - High performance computing grid delivers fastest, most scalable trading platform - Powers global trading and commercial technology offering
The NASDAQ OMX Group, Inc. (Nasdaq:NDAQ) today announced the rollout of new enhancements and upgrades to its core trading technology known as INET. Recognized as the most sophisticated trading technology in the world, INET is the common technology utilized across NASDAQ OMX's U.S. and European markets. It also serves as the backbone for GENIUM, NASDAQ OMX's commercial exchange technology offering.
"The new generation of our INET technology is integral to NASDAQ OMX's leadership in technology innovation, market transparency and in our ability to provide the best overall trading experience for investors," commented Bob Greifeld, CEO of The NASDAQ OMX Group. He continued, "We are raising the bar for technology with our customers in the U.S. and we have highlighted our ability to operate NASDAQ OMX's global markets and technology business from a single, powerful core technology. With the recent migration of NASDAQ OMX PHLX to INET, we are operating all U.S. markets on INET and we will be using it across Europe by year's end."
NASDAQ OMX's INET technology is the most efficient and scalable trading platform in the world, with microsecond speeds, and high reliability and capacity. The next generation INET technology has been rolled out over the course of 2009 and will continue through 2010 for NASDAQ OMX's markets. Additional future enhancements to INET will focus on connectivity upgrades, with the objective of increased speed and cost efficiency for customers.
With U.S. equity trading volumes increasing over 120 percent in the last three years, NASDAQ OMX has built technology capable of handling over one million messages per second at sub-250 microsecond average speeds, the fastest of any exchange or alternative trading system in the world. Its proprietary trading software runs on a high-performance computing grid based on a 40-Gigabit per second network and multi-core processor technology.
As part of the INET roll-out, NASDAQ OMX has implemented new, electronic surveillance system technology to further enhance the regulatory systems on NASDAQ OMX's markets.
"We operate in global markets that are defined by increasing volume, complexity and interconnectedness. Against that backdrop, we focus on evolving our technology to meet and stay in front of the demand created by those trends," commented Anna Ewing, Chief Information Officer, NASDAQ OMX.
Ewing continued, "We have honed our ability to support highly competitive, high-volume markets through our experience in building technology for The NASDAQ Stock Market, the largest pool of liquidity in the U.S., and 70 exchanges across the world. The importance of this technology was further underscored by the financial crisis, when we saw the importance of speed, capacity and reliability to well-functioning markets. Through ongoing technological innovation, we will continue to build on those core strengths and our leadership in the U.S. and European markets."
INET technology benefits NASDAQ OMX's trading customers across multiple asset classes and market structures, including equities, derivatives, commodities, and clearing platforms. With INET as its core technology solution, NASDAQ OMX can facilitate easier, standardized access to liquidity across the U.S., European and Nordic markets at superior performance levels. INET powers NASDAQ OMX's U.S. equities and option platforms including The NASDAQ Stock Market, NASDAQ OMX BX, NASDAQ OMX PHLX, The NASDAQ Options Market, and NASDAQ OMX Europe. It will be rolled out on NASDAQ OMX's Nordic markets in December. NASDAQ OMX PHLX was recently migrated to the INET platform, marking the one-year anniversary of NASDAQ OMX's acquisition of The Philadelphia Stock Exchange in July 2008.
NASDAQ OMX is the world's number one provider of commercial exchange technology. INET forms the core of its GENIUM offering, providing technology customers with the same speed, scale and reliability required to meet the specific needs of their markets. NASDAQ OMX technology has a global footprint, supporting the operations of over 70 exchanges, clearing organizations and central securities depositories in more than 50 countries. Its flexible, high performance technology supports the trading and clearing of multiple asset classes, including equities, derivatives, debt, commodities, structured products and exchange traded funds.