The Vienna Stock Exchange has outlined plans to ditch its current OMex system for derivatives trading and migrate to the platform of Deutsche Boerse unit Eurex.
The two market operators say they plan to enter into technical cooperation on the move, with migration slated for March 2010. The Austrian exchange will remain autonomous, with its own surveillance and supervision.
The OMex system has been used to trade financial futures contracts and options since 1991. It was developed by OM Technology, an arm of Nordic futures exchange Optionsmäklarna which became OMX in 2003 before merging with Nasdaq in 2008.
The move to Eurex is an expansion of a partnership that has seen Wiener Börse using the Xetra electronic trading system for its equities market since 1999.
Peter Reitz, executive board, Eurex, says: "We are delighted that Wiener Börse has decided to use our efficient derivatives system. The participants of the Vienna derivatives market will thus be able to benefit directly from the strengths of the Eurex system, such as scalability, speed and stability."
The Vienna Exchange will hope the new platform helps its push to become the dominant player in Central and Eastern Europe. Last year it bought an 81.01% stake in the Ljubljana Stock Exchange after beating offers for the Slovenian bourse from other market operators, including OMX. This was swiftly followed by the acquisition of a 92.4% stake in the Prague Stock Exchange.