The members of the Spanish market rely on one of the most advanced and efficient IT systems in the world.
Visual Trader Systems, a Bolsas y Mercados Españoles (BME) company, has developed a new IT tool, called SuperTrack, which allows stock market members and other clients to design their own trading models based on algorithms.
The Algorithmic Trading technology, which is widely used internationally, is the top generation of programming trading systems and a major step forward in the stock exchange industry.
The use of algorithms for equity trading is becoming increasingly popular with major brokers. It is estimated that in 2006 over 20% of equity turnover on the American stock markets was based on this model and other forecasts put the percentage for 2007 at over 30%.
The acceptance of this new tool and the recent upgrade of SIBE's IT capacity - carried out in anticipation of the expected increase in trades - proves BME's commitment to investing in advanced technology to offer investors a wider product and service range while keeping up the high efficiency and transparency standards of the Spanish stock exchange.
The SuperTrack system includes:
- A two-year intra-day historical record, reviewed and updated daily, containing all the information for each share during each trading session: orders, trades, 5 best positions etc. The Spanish market (SIBE) is currently available and the service will soon be available for XETRA, Euronext and the Milan stock market.
- A market simulator, which reproduces past trading sessions while admitting new orders. The system manages the orders in the same way as it does on the actual market. This simulator will enable users to test models or use it as a trader training platform, simulating the circumstances that are given during an ordinary trading session.