Source: Object Trading
Object Trading, a provider of global, multi-asset trading infrastructure, announced today that it is the first vendor providing market access to the ASX to have conformed to the upgraded ASX 24 (futures) New Trading Platform (NTP) from Cinnober, due to go live in early 2017.
ASX 24 market participants need to connect to the NTP in order to continue trading. Clients using Object Trading’s Direct Market Access (DMA) Platform can adapt to the NTP upgrade with ease. As exchanges globally continue to innovate, Object Trading remains ready for the multitude of updates and upgrades that occur as a result.
Managing the technological and business changes that are needed with each exchange update is a considerable challenge. By connecting to venues such as ASX through Object Trading’s DMA Platform globally, with a single, normalised interface supporting all forms of electronic trading for 60+ markets, participants save considerable resources in maintaining up-to-date exchange connectivity and dependent upstream front-end trading systems. Object Trading’s platform provides the flexibility and adaptable infrastructure that is needed to continue trading in an ever-changing, global market.
The ASX 24 NTP introduces significant technology changes, with a new matching engine, new protocol, and new interfaces. With all functionality testing complete, Object Trading are fully conformant and ready to support derivatives trading clients through industry-wide testing and implementation rehearsals, so that clients can continue to access ASX 24 with minimal changes to their own technology environment.
Object Trading has been working closely alongside ASX in the early stages of development and will support technical testing by clients on the new exchange platform.
Paul Stonham, ASX’s Senior Manager of Technical Services, said: “ASX congratulates Object Trading as the first ASX 24 vendor to pass conformance testing for the New Trading Platform. Object Trading has passed conformance for all ASX 24 functionality as well as Multicast Market Data. We look forward to working with OT and their clients for production implementation.”
Dan Hubscher, Object Trading’s Director of Strategy, said: “We are delighted to be working alongside ASX on infrastructure connectivity for the NTP. At the heart of our business is the mission to ensure all our clients can trade across exchanges with minimal disruption, while we take care of the impacts of relentless updates, upgrades, and migrations. Exchange enhancements will continue indefinitely, and will benefit client’s businesses as long as they can keep up with an accelerating pace of technical change. We work with exchanges like ASX to ensure a seamless connectivity experience on our DMA Platform so that our customers can do what they do best, trade.”