New Zealand stock exchange live with Trayport e-trading platform
06 July 2007 | 9088 views | 0
The New Zealand Exchange (NZX) has rolled out its new electronic dealing platform which is based on the GlobalVision trading system developed by UK-based Trayport.
Trayport said last October that it had won the NZX contract. The vendor's Web-based GlobalVision product will provide the electronic trading infrastructure for all the NZX markets in New Zealand.
NZX says market participants and key stakeholders have taken part in training, systems testing and dress rehearsals.
"The delivery of this project on time and on budget is a great milestone for NZX, as well as market participants, who have been heavily involved in rolling out the system over the last eight months," adds Stuart Turner, head of strategy and projects at NZX.
Mark Weldon, NZX CEO, says the new system "will enable trading across a wider range of market products, unlocking currently untapped potential, such as a derivatives market".
Trayport is also providing the technology for the AXE ECN in Australia which is being established by NZX in partnership with Citigroup, CommSec, Goldman Sachs JBWere, Macquarie Bank and Merrill Lynch. The ECN will provide off-market trade execution reporting services to brokers in Australia.