The National Stock Exchange (NSX) in the US has switched its electronic trading and reporting systems to a new technology platform supplied and implemented by Sun Microsystems.Sun says it worked with a team of providers in this deployement, including Randomwalk, Cisco Systems, Hitachi and Veritas. The overhaul replaced older HP systems.
The vendor has installed its Sun Fire servers - powered by UltraSparc and AMD Opteron processors - as well as the Sun StorageTek compliance archiving system at the exchange. Sun says the implementation will help NSX handle increased trading volumes and expand archive capacity to comply with recent SEC regulations.
In addition, Sun's Solaris 10 OS will help ensure security, integrity and performance of the overall platform.
Sun says its technology enables NSX to process more than 15,000 orders per second and 1500 executions per second.
Commenting on the implementation, Joseph Rizzello, CEO of NSX, says "This will allow us to aggressively compete with other exchanges while giving traders greater options for best execution."
Under the agreement, Sun will also provide on-going support and training services to the NSX.
Larry Scott, VP of financial services at Sun Microsystems, says: "The NSX has taken the necessary steps to position itself as a highly efficient and low cost execution venue. The new open technology platform powered by Sun will help provide the NSX with competitive advantages for its members in the years to come."
Following the overhaul, which was completed at the end of July 2006, the all-electronic NSX launched a new state-of-the-art technology platform, called NSX Blade, and trade reporting facility NASD/NSX.
In Septemeber Wall Street banks Bear Stearns, Citigroup, Credit Suisse and Merrill Lynch, along with e-trading firms Bloomberg and Knight Capital, acquired a majority equity stake in the NSX.
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