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EUREX Group and Bombay Stock Exchange (BSE) in Technology Alliance

Eurex Group and the Bombay Stock Exchange (BSE) announced today that they have agreed to deepen their strategic partnership through a long-term technology alliance under which BSE will join the Eurex technology roadmap and deploy Deutsche Börse Group’s trading architecture in a first step. BSE aims to replace its derivatives market platform in the course of 2013 and plans to subsequently replace also its cash market platform. This agreement is an important step in further developing the strategic partnership between Eurex and BSE.

The new partnership in the technology sphere will allow BSE to quickly achieve the highest global standards for speed, reliability and order-handling capacity. It will bring to BSE state-of-the art levels of capacity and latency, already in place at the International Securities Exchange (ISE) since summer 2011 and in roll-out at Eurex Exchange. By aligning BSE, Eurex Exchange and ISE markets on a common trading infrastructure, IT costs for shared customers will be significantly reduced. This will also reduce technology development and installation efforts for Eurex and ISE members who wish to connect to BSE and vice versa as well as strengthen the case for cross-listing.

“We expect our technology alliance with Eurex will help BSE to compete more effectively in India, to help us attract more international participants into our marketplace and improve our market share in derivatives and equity trading,” said Ashish Chauhan, MD and CEO of BSE. “It will quickly put BSE into the Premier League of exchanges in terms of the performance of our matching engine and overall technology infrastructure.”

“This technology alliance strengthens our long-term partnership with BSE, and is another milestone in our Asian strategic roadmap, in which India obviously plays an important role. This technology alliance also contributes to growing our global liquidity network, based on common market infrastructure, for the benefit of both our partners and our members,” said Andreas Preuss, CEO of Eurex and Deputy CEO of Deutsche Börse AG.

Source: MondoVision, 12.03.2013

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Filed under: Asia, Exchanges, India, Trading Technology, , , , , , , ,

Deutsche Börse to offer 10Gbit/s trading and market data connections for the first time

Deutsche Börse is expanding its portfolio of trading and market data connections to include bandwidth of 10 Gbit/s for connectivity to the Eurex derivatives market and the Xetra cash market.

This measure is part of the continuous development of Deutsche Börse’s system landscape which is particularly focused on minimising latency for transactions and data feeds. By raising the bandwidth to 10 Gbit/s using ultra-low latency network technology, the network run-time for co-location clients will be significantly reduced and as consequence, liquidity on Eurex and Xetra should further benefit.

The 10 Gbit/s connectivity will be realised based on standardised cable lengths, guaranteeing all co-location clients the same conditions for minimal latency. Clients who apply for a 10 Gbit/s connection by 17 October 2011 will be able to use it immediately from the launch on 12 December 2011.

Source: WFE, 30.08.2011

Filed under: Data Management, Exchanges, Market Data, Trading Technology, , , , , , , ,

Korea Exchange launches new trading system

The Korea Exchange (KRX) launched successfully the next generation IT system (EXTURE) on March 23, 2009.

The EXTURE consolidates the trading systems, clearing and settlement systems and information dissemination systems of the 3 former exchanges that were consolidated under the KRX.

In terms of efficiency, processing capacity, flexibility and reliability, the KRX’s next generation IT system is one of the most advanced systems in the world. Thus, it is anticipated that it will become a new growth engine of the KRX.

Specifically, to effectively accommodate the market liquidity, the processing capacity of system has been upgraded to 40 million quotes per day, which is 2 times the capacity of existing system. The roundtrip latency for order execution has been reduced to less than 0.08 seconds, which is one of the best in the world.

With the launch of the next generation IT system, all functions related to trading, e.g., order routing, order matching and execution, dissemination of market data, management of customer account book, etc., which the 3 Markets have been handling independently, will be integrated and standardized into a single process. Consequently, the internal efficiency of the member companies will be enhanced and it will also be an occasion for fundamentally improving the KRX’s business practices.

Using the next generation IT system, the KRX intends to accommodate various products to be developed and introduced after the enforcement of the Financial Investment Services and Capital Market Act; establish the mechanisms for cross-boarder trading with such exchanges as CME and Eurex; and export the Korean-style market standards to the other foreign markets.

Source: KRX 25.03.2009

Filed under: Exchanges, Korea, News, Trading Technology, , , , , , , , , , , ,

KRX And Eurex To Cooperate In Derivatives Trading

Eurex, the leading derivatives exchange, and Korea Exchange (KRX, http://www.krx.co.kr), a leading Asian exchange, today announced a wide-ranging product cooperation in trading and clearing derivatives. Andreas Preuss, CEO of Eurex, and Jung-hwan Lee, Chairman & CEO of KRX, signed an agreement in Seoul. According to this, KRX will grant Eurex the right to list, trade and clear Daily Futures on KOSPI 200 Options worldwide after Korean trading hours. Eurex as Europe’s largest derivatives exchange intends to launch its daily futures on this option on the Eurex platform in January 2010.

Mr. Jung-hwan Lee, Chairman & CEO of KRX, said “Our agreement with Eurex today is part of our strategy to extend the global reach of KRX markets and furthermore, it is in line with KRX vision of becoming a world-class premier exchange. Through this cooperation, we will provide round the clock trading opportunities in KOSPI 200 Options market which is already the most liquid exchange-traded derivative product in the world.”

Andreas Preuss, CEO of Eurex, said: “This cooperation is another milestone in our strategy to offer our customers access to all major asset classes and all major markets. The Eurex listing will enable international investors and traders to access the KOSPI 200 Options market during core European trading hours.”

Both partners believe that the cooperation will increase the liquidity and efficiency of the Korean market. This new extended market for KOSPI 200 Options will provide existing market participants trading and hedging opportunities for KRX positions after Korean trading hours and a possibility to take positions as the global market fluctuates.

KRX and Deutsche Börse signed a Memorandum of Understanding (MoU) on 30 January 2007. Among other activities, the MoU initiated a joint working group to explore cooperation in the derivatives market. Today’s announcement is one of the first joint projects of both partners.

Source: Mondovision, 14.12.2008

Filed under: Exchanges, Korea, News, Trading Technology, , , , , , , , , , ,