BME upgrades Spanish stock exchange trading platform
BME has upgraded the Spanish stock exchange's trading platform (SIBE) successfully, in this way bringing trading in Shares, ETFs, Warrants and other investment products into one single system.
External
This content is provided by an external author without editing by Finextra. It expresses the views and opinions of the author.
BME's platform multiplies transactional capacity while providing the Spanish stock market with sufficient growth potential to respond to the present and future needs.
The new technological environment, fully developed using BME Group's technology, allows the system to accommodate the future growth in trading volumes and in the number of transactions. It also shows major improvements in terms of the latency of transactions, which has been reduced by over ten times.
The number of trades on the Spanish stock Exchange grew by 13% and the number of orders increased by 62% in 2011. The trading volume posted by the BME markets last year was €927 billion.
In upgrading the platform BME has intended to facilitate access and operations for market participants by using FIX standard protocols and reliable technology developed internally and used by the different segments of the BME markets, in this way achieving major synergies.
Jorge Yzaguirre, Director of the Equity Unit, BME said: "The migration of all securities to BME's new trading platform has been completed successfully, benefiting all market participants. In this way the Spanish stock exchange relies on the best technology for trading as well as maximum security and reliability. We believe all the relevant criteria to position the Spanish stock exchange at the forefront of electronic trading have been met. "
In 1989 SIBE was the first equities trading platform in the world to enable the interconnection of four stock markets, integrating them into one single order-book.