New trading engine system for Mexican Stock Exchange

The Mexican Stock Exchange (BMV) launched last September 3 its new trading engine, MoNeT, which was internally developed by the Technology Division of the BMV. MoNeT 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 and it will be deployed in December 2012 in the Mexican derivatives market (MexDer). Compared with Sentra, MoNeT is 300 times faster. Additional throughput capacity can be easily installed in MoNeT using low cost standard hardware. Several technology partners were engaged to participate in the analysis and development of MoNeT: the Software Engineering Institute (SEI) of Carnegie Mellon University, Roland Tibell at Bourse Consult LLP, IBM, and Oracle Java Labs. MoNeT marks the conclusion of the IT Master plan of the BMV initiated in 2006 and it was developed and launched with an investment of around USD $11.5 million.