TSE taps Nyse Technologies for futures trading platform

Source: Nyse Technologies

Nyse Technologies, the commercial technology division of Nyse Euronext (NYX), today announced that it has been selected by the Tokyo Stock Exchange (TSE) to build and support a new futures trading platform for the exchange.

Based on the successful Tdex+ platform already trading options on the TSE since October 2009, this futures trading engine will offer best-in-class latency.

Atsushi Saito, President and CEO of the Tokyo Stock Exchange Group said, "The Japanese futures trading market contains significant growth potential. We believe promoting this market will bring forth 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 as its technical and operational expertise in financial markets in Europe and the U.S. is of indispensable value to us."

"This agreement builds on our partnership with the TSE, and we are very proud to be playing a role in this important initiative," said Dominique Cerutti, President & Deputy Chief Executive of NYSE Euronext. "Together, we will provide a superior platform that serves the interests of customers, addresses the increasing demands for speed and capacity, and ensures that TSE is at the cutting edge of innovation."

As part of an ongoing relationship between TSE and NYSE Technologies, the TSE, which has already launched the Tdex+ platform for options trading, will begin migrating futures products to this low latency and high-performance platform Fall 2011. NYSE Technologies is building this new Tdex+ based futures system utilizing its LIFFE CONNECT platform with several customized features. This new platform will provide the Asian futures market with lower latency, improved liquidity via the introduction of market making facilities, the introduction of Inter Commodity Spreads and Closed Auction facilities.

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