The Philadelphia Board of Trade (Pbot) is implementing Tibco Software's 'enterprise backbone' technology to support deployment of its new electronic futures trading platform.
The Tibco implementation, which is scheduled to go live at the end of the year, will provide the messaging technology required to move order and trade executions between internal systems at Pbot for futures trading.
Tibco says its technology will connect internal components of the Pbot XL platform. The architecture will provide reliable delivery of critical market information with the performance and availability necessary for real-time financial transactions on a global scale.
Tom Wittman, CIO of Pbot and SVP of trading systems at the Philadelphia Stock Exchange, says: "Tibco's products have a proven track record on our PHLX XL options trading platform. So much so, we selected the company once again when evaluating vendors for Pbot as an electronic exchange."