Deutsche Bourse and Vienna Stock Exchange extend tech contract
23 February 2016 | 1687 views | 0
Source: Deutsche Bourse
Vienna Stock Exchange will continue to use Deutsche Börse’s trading technology. Both exchanges extended their contract by a further six years, at least until 2021.
The co-operation partners of Vienna Stock Exchange will also use Deutsche Börse’s trading infrastructure.
“Deutsche Börse offers an extremely reliable, high-performance and well-recognized trading technology. The long-standing relationship has proven successful for both the Vienna Stock Exchange as well as other exchanges with whom we are cooperating in Central and Eastern Europe. We therefore decided to approach future technological developments and upcoming challenges within the financial industry jointly again with Deutsche Börse,” said Michael Buhl, member of the Management Board of Wiener Börse AG and its holding CEESEG AG.
Holger Wohlenberg, Managing Director Deutsche Börse Market Data + Services, added: “This extension of the agreement with Vienna Stock Exchange is another re-confirmation for the quality and reliability of our IT services and technology solutions. Vienna Stock Exchange and its co-operation partners in Central and Eastern Europe will continue to benefit from our continuously improved cash market technology and a broad international network of market participants.”
The agreement ensures that the Vienna Stock Exchange’s cash market will continue to operate with the most efficient technology. Both parties have therefore agreed that all future modifications or updates to Deutsche Börse’s trading infrastructure will be provided to Vienna Stock Exchange and its partner exchanges in parallel.
Cash market trading on the Vienna Stock Exchange has been based on the Xetra system since November 1999. In December 2010, Vienna Stock Exchange also introduced the system in Ljubljana. The exchanges in Prague and Budapest are utilizing the trading system since November 2012 and December 2013 respectively.
Several other stock exchanges in Europe and globally also use Deutsche Börse’s trading infrastructure. The Irish Stock Exchange, which introduced Xetra technology in 2000, extended its contract with Deutsche Börse just recently until 2021. The Bulgarian Stock Exchange uses Xetra technology since 2008, the Malta Stock Exchange since 2012 and the Cayman Islands Stock Exchange since 2013. Deutsche Börse’s bond market Eurex Bonds also uses this technology. Moreover, the Shanghai Stock Exchange based its own New Generation Trading System on Xetra technology.