Trading system overhaul coming to Eurex

February 8, 2012 06:00 PM

Eurex announced today its plan to launch a completely new trading system. Subject to the required legal approvals, first roll-out is currently scheduled for December 2012, followed by a migration phase, where products will be moved in a stepwise approach from the current to the new trading system. It will be developed internally and based on Deutsche Börse Group’s proprietary global trading architecture, which is already in use at the International Securities Exchange (ISE).

Participants of Eurex will benefit from state-of-the-art technology which is built on the four pillars performance, efficiency, capacity, and reliability. The new technology will meet user needs by minimizing latency, maximizing throughput and allowing for greater flexibility while maintaining high standards of reliability. With the new trading system, Eurex will cease to use the currently used MISS infrastructure and VALUES API interface.

“Technology is a very important differentiator in today’s competitive global market environment. With the move to the new system, we again deliver a best-in-class solution to our exchange participants. They will get more choice and greater performance, and the reliability they can expect from Eurex”, said Jürg Spillmann, Deputy CEO Eurex and responsible for IT and Operations. “The complete overhaul of our trading architecture is a decisive element of our vision to operate markets globally around-the-clock.”

The new technology will include a highly flexible operating system, an internal high performance messaging architecture for minimum latency, high speed communications and reliable database systems. In the future, time-to-market for introducing new products and features will be significantly reduced. And, new tools for further strategy and spread trading will also be delivered.

Furthermore, new interfaces will be provided for exchange participants, replacing or extending the existing ones. These new interfaces will be based upon industry standards such as FIX and FAST facilitating a faster implementation by participants. In addition, Eurex strives to ensure a high degree of backward compatibility for the new interfaces allowing participants to leave their trading applications unchanged in future releases of the new trading system.

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