Fixnetix wins Equiduct Trading deal

Fixnetix wins Equiduct Trading deal

Börse Berlin Equiduct Systems has recruited London-based Fixnetix to develop the low latency market data feed for its MiFID-compliant pan-European trading platform, which is expected to launch in the middle of the year.

The exchange says the Fixnetix market data technology will ensure "minimal pan-European latency" to support the creation of Equiduct Trading's volume-weighted best bid and offer (VBBO) feed for liquid instruments.

"Enabling our customers to quickly and cost-effectively meet the requirements under MiFID we need to ensure that we provide the most reliable VBBO prices," says Artur Fischer, joint CEO, Börse Berlin Equiduct Trading.

"Our comprehensive testing confirmed that the Fixnetix feeds deliver the fastest and most comprehensive Level II data for all our target markets, and - as recent market conditions have shown - are robust enough not to drop or delay any data during volatile or fast market conditions," adds Rob Brouwer, CIO, Börse Berlin Equiduct Group.

In January the exchange said London-based Knowledge Technology Solutions would develop and host a Web portal that will provide access to prices from Equiduct Trading platform. The KTS system will provide access to the Equiduct Trading VBBO as soon as the platform launches.

The KTS portal will be accessible via the Equiduct Trading Web site from April 2008. Pre and post trade data from Equiduct's Hybrid and PartnerEx market segments will be available online in mid 2008.

Last month Börse Berlin signed a preliminary agreement with LCH.Clearnet for the provision of central counterparty clearing services for transactions executed on the new platform.

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