With the transfer of the last 125 classes this morning, BOX completed the migration to its new trading engine platform (SOLA which is licensed from the Montreal Exchange).
The transfer was accomplished progressively over six weeks starting on June 12; immediate benefits to BOX users are improved response times during peak traffic periods and a much quicker opening match in the morning. This completes phase one of BOX's migration to a new trading environment, to be followed by phase two in September with the replacement of BOX's HUB Communications software. The new environment will allow BOX to:
- add 500 additional options classes
- increase the number of Market Maker appointments on all options classes
- increase Market Maker messaging throughput which will improve market quality
- provide full penny quoting (and participate in the Penny Pilot Program to commence in January 2007)
- reduce its technical operations costs