Credit Suisse Securities (Moscow) Company has completed a project to connect to trading in stock market of the Micex Stock Exchange using the protocol FIX.
Credit Suisse Securities is the first client of the Exchange using this technology in commercial operations.
FIX-Protocol is an international standard for information exchange among participants in on-exchange trading. It is widely used as a single integration protocol in the exchange of financial data and execution of transactions. The technological implementation of the protocol in MFIX Transactional product complements the MFIX Market Data system, used to distribute market information about trading in financial markets, that was implemented by the MICEX earlier. The functionality of MFIX Transactional ensures the reception, by FIX-Protocol (version 4.4), of clients' trading applications "Enter order" and "Withdraw order" and their delivery to the MICEX trading system, as well as the provision of information to clients about their earlier transactions and the current status of their orders.
The MICEX regards the creation of MFIX Transactional system, enabling participants to connect their systems for the purpose of entering orders using a standard international protocol, as one of its priority projects. For a long time leading international financial companies have needed the availability of FIX protocol. The use of the Protocol significantly reduces time and financial costs of adapting the existing software products to working on new trading platforms, in this case, the MICEX Group's markets. We are very pleased that Credit Suisse Secutities, one of the largest and oldest market players, has opted for this modern technology. Until the end of the year we intend to connect a number of participants in the MICEX stock market to MFIX Transactional system.