German exchange operator Deutsche Boerse AG (DB1.XE) Friday said
the exchange council of its Eurex derivatives unit approved the
introduction of a new trading architecture, which was announced
earlier. Gradual migration onto the new systems will start in
December.
MAIN FACTS:
-The Eurex Exchange Council unanimously approved the planned
introduction of a completely new trading architecture at its
regular meeting.
-This approval meets a major legal requirement.
-The introduction of the new trading system will, among other
things, also require an amendment to the exchange Rules to also be
approved by the Exchange Council.
-The migration is scheduled to begin in December 2012, with
products transferred from the current to the new system in four
stages.
-"The new trading system will give Eurex customers access to the
latest technology. The change will ensure that the essential
requirements of participants are met in terms of minimizing
latency, maximizing data throughput, further increasing flexibility
and providing a high level of reliability," said Gustav Gass,
chairman of the Eurex Exchange Council. "Our approval sees the
foundation stone laid for Eurex Exchange to continue to operate one
of the industry's leading technical infrastructures."
-Since the system change was announced, Eurex has launched an
extensive consultation process with its 430 participating firms and
key software vendors.
-The chosen approach, which replaces the MISS infrastructure and
VALUES API interface currently used by Eurex with standard
interfaces based on FAST and FIXML, met with a positive
reception.
-The planned new functions for strategy and spread trading also
met with particular interest.
-A simulation environment is to be available to participants
from the end of August.
-The new Eurex system is being completely developed internally
on the basis of Deutsche Boerse Group's own global trading
architecture, which is already in use at the International
Securities Exchange (ISE) unit in the US.
-Write to the Frankfurt Bureau at
djnews.frankfurt@dowjones.com