Rofex has put into production the FIX Gateway 5.0 SP2, a new protocol version that has revolutionized international markets.
"We are sure that this technology will allow increasing business opportunities for those participants that use it, as well as increase total volume traded in ROFEX", pointed out Luis Ossola, ROFEX´s chairman.
The implementation of this new gateway as from January 17, 2011 enabled ROFEX to have automatic quotes and trades generated by computers (known as algorithmic trading). "With the implementation of these innovative tools of automatic quotation, the quantity of market orders has increased exponentially. Now, the quantity of orders processed in one day's trading session is the same as that processed in six months", pointed out Ismael Caram, ROFEX´s Operations manager.
Likewise, Diego Fernández, ROFEX´s General Manager, mentioned that "the new gateway allowed us to have quotations in both futures and options during most time of the trading session, even for those less liquid products".
In July 2007, ROFEX was the first and only exchange in Argentina to establish the FIX Protocol, positioning itself at the forefront of exchanges in the country. At present, the Market has different data vendors (Bloomberg, ThomsonReuters, CMA) and one DMA (Direct Market Access) vendor (Primary) certified and connected to FIX Gateway 4.2 .
As regards the next steps, ROFEX is getting ready to launch a new trading terminal that will connect directly to the FIX Gateway 5.0 and will be distributed to all Market's Brokers. ROFEX is also searching for the connection of new DMA providers and data vendors, who will certify their solutions against the above mentioned interface.