Thursday February 12 2015
News Source: Global Exchanges
Focus: Trading Systems and Technology
Type: General
Country: Australia
Link: http://www.asx.com.au/documents/investor-relations/ASX_Ltd_Technology_Upgrade.pdf
ASX has announced that it will upgrade all of its major trading and post-trade platforms over the next three to four years. ASX’s investment will help deliver greater innovation, efficiency and liquidity to customers, and strengthen ASX’s position as one of the world’s leading exchange groups.
The investment program will be implemented in phases, starting with the replacement of ASX’s derivatives and equities trading platforms, risk management systems and market monitoring systems. This is expected to take 18 to 24 months. This will be followed by upgrades of ASX post-trade services, including cash market clearing and central securities depository services. Vendor selection and design scoping for this next phase will be made in FY16.
Swedish firm Cinnober Financial Technology will provide the trading solutions for ASX’s equities and derivatives markets. ASX will start with the replacement of the ASX Trade24 derivatives platform, which has been in operation since 2007. This will be followed by the replacement of the equities platform.
Click link above for further details.