Trayport wins New Zealand stock exchange contract

Trayport wins New Zealand stock exchange contract

London-based Trayport has won a contract to provide the New Zealand stock exchange (NZX) with an electronic dealing platform as well as a trade reporting system to power the new ECN the exchange is establishing in Australia.

Under the deal, Trayport will provide NZX with its GlobalVision Exchange Trading System, which will be implemented in 2007 and will support the exchange's core equity and debt markets.

Trayport will also provide the technology for an ECN that will provide off-market trade execution reporting services to brokers in Australia. The NZX signed a deal with Citigroup, CommSec, Goldman Sachs JBWere, Macquarie Bank and Merrill Lynch last month to set up the service, which will launch in the first half of 2007.

Commenting on the Trayport contract, Martyn Bain, manager, market technologies , NZX, says: "The key consideration for NZX was to build flexibility into our trading system so as to allow us to add new products and features without the need for expensive bolt-ons.

"The Trayport system will deliver flexibility and proven performance. It will enable us to support our existing clients and markets while anticipating and responding to new market initiatives."

Edmund Hor, CEO of Trayport, says: "We believe our platform will provide NZX with the flexibility to evolve and innovate as their business and markets develop."

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