The American Stock Exchange (Amex) is to base its next-generation technology trading platform on the Tradexpress electronic exchange framework developed by Swedish technology vendor Cinnober.
Under the agreement, the Amex's trading systems will be custom developed using Cinnober's Java-based framework which connects external and internal customer groups and exchanges transactions with legacy systems.
Ravi Apte, chief technology officer, Amex, says: "The new systems enhance the existing auction market by automating order interaction and providing fast executions while maintaining superior price discovery and execution prices."