Nyse Euronext inks TSE options trading deal

Nyse Euronext inks TSE options trading deal

Nyse Euronext has won a deal to supply an options trading system, based on its Liffe Connect platform, to the Tokyo Stock Exchange (TSE).

The Nyse Euronext technology will underpin TSE's new options trading market, called Tdex+, which is scheduled to launch in the first half of 2009.

The deal calls for the provision of the Liffe Connect platform along with additional technology and services provided by Nyse Euronext subsidiary AtosEuronext Market Solutions (AEMS).

The Tokyo exchange says the new Tdex+ platform will offer investors "major operational and regulatory improvements", including new market maker functionality for the Japanese market. Details of the business rules for the new system will be made public when the specifications for the system are laid out.

Atsushi Saito, president and CEO of TSE, says the Japanese options trading market contains "significant growth potential" and promoting this market will bring "a great investment opportunity for not only the Japanese investor, but investors worldwide".

"We have chosen Nyse Euronext as a valued partner in developing this market. NYSE Euronext's technical and operational expertise in various markets such as the capital and derivatives markets, within multiple localities in Europe and USA is of indispensable value to us," adds Saito.

Commenting on the contract Duncan Niederauer, CEO, Nyse Euronext, says: "Together, we will develop and introduce a superior platform that serves the interests of customers, addresses the demands for speed and capacity, and ensures that Tdex+ proves beneficial to the Japanese investor and financial marketplace."

The deal follows an agreement last year between TSE and Nyse to form a strategic alliance to develop and explore new opportunities in trading technology, investment products, marketing and regulation.

In 2006 the TSE said it was investing around $529 million on overhauling its Fujitsu-built trading technology following a series of costly operational failures.

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