Wednesday September 30 2015
News Source: Global Exchanges
Focus: Trading Systems and Technology
Type: General
Boerse Stuttgart has announced the successfully launch of its new exchange system Xitaro. This means it can now make its own decisions on the timing and scope of technical upgrades. Xitaro went live at the start of trading on Monday, September 28th, 2015. Since the launch, trading in all asset classes is executed on the system. Altogether, more than 80 trading participants are now linked to Xitaro.
The technology for the new exchange system was provided by Nasdaq. The scalable server technology chosen for Xitaro includes standardised connection options. The system provides all the order routing and pricing functionality required for the around 1.4 million securities listed in Stuttgart. Other built-in functions cover settlement and post-trade transparency for exchange trades.
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