The Shanghai Stock Exchange has contracted with consultancy firm Accenture for the implementation of a new electronic trading system, which will be based on Deutsche Börse's Xetra platform.
The Exchange, which is China's largest stock market, has licensed Deutsche Börse's Xetra trading system and commissioned Accenture to adapt the system for the Chinese market and manage the installation. Industry sources close to the deal put the value of the contract for Deutsche Börse at EUR10 million.
Accenture says the new platform will enable the Exchange to offer additional products and services to investors and institutions and to scale operations to meet growing market demand in China.
Geng Liang, chairman, Shanghai Stock Exchange, says: "By leveraging Accenture's and Deutsche Börse's long experience in building and maintaining markets infrastructure, we are investing in the Shanghai Stock Exchange's future and the role it will play in the Asian and international financial markets."