New Zealand Exchange Limited (NZX) today announced it will soon be reporting stocks traded on the Australian Stock Exchange over its new electronic communications network (ECN), using a solution created by Stratus Technologies and its partner, Trayport.
The ECN, which is being established in partnership with Citigroup, CommSec, Goldman Sachs JBWere, Macquarie Bank and Merrill Lynch, will provide off-market trade-execution reporting services to brokers in Australia. In addition to the ECN, NZX has replaced the blade servers that had been driving its equities trading engine with fault-tolerant Stratus servers.
NZX processes several thousand trades daily. "Our local and global clients rightly expect our services to be unfailing," said Martyn Bain, IT delivery manager, NZX. "NZX maintains a very high business profile and any systems outage could become a news media event, which is situation we certainly strive to avoid."
NZX has 12 Stratus® ftServer® systems supporting the ECN and securities trading applications. Electronic trading systems provider Trayport recommended fault-tolerant servers due to the field-proven uptime reliability they are known for.
"Built-in redundancy means that, with the Stratus ftServer system, we need not be concerned with application failover speed and logic; the server essentially manages itself with no extra server management complications and prevents failure from occurring in the first place," noted Bain.