The SWX Swiss Exchange today upgrades its trading system with the launch of a new high performance capability for trading in securitised derivatives.
Early adoption of the new technology by market makers means that 97 % of the securitised derivatives currently listed at SWX will migrate to the new trading platform in the first four weeks of live operation.
The SWX Swiss Exchange today launches its new trading system capability with significantly enhanced capacity to enable high performance trading in securitised derivatives. Known as "Quotematch", the trading platform has been delivered in partnership with Computershare Markets Technology and is based on its X-stream platform, which is widely used across the globe.
The new trading capability provides participants with a number of significant advantages:
- A high-performance electronic quote-based trading system based on proven, robust and scaleable technology
- Significant opportunity for growth in the issuance of securitised derivative products and trading volumes
- Rapid quote maintenance, via a new and lightweight market maker interface
- Faster access for price takers than at present, via existing SWX interfaces
- Straight through settlement processing
Early adoption of the new trading platform by the majority of market makers means that 97 % of the 5,900 securitised derivatives currently listed at SWX will migrate to the new trading platform in the first four weeks of live operation.
Reaffirming their commitment to the highest service levels, SWX and virt-x are also integrating the SMARTS product, an off-the-shelf system providing real-time supervision and surveillance of markets.
Commenting on the Quotematch Programme, Jürg Spillmann, Head of the SWX Group Executive Committee, said: "With Quotematch, SWX will be passing yet another significant milestone on the path to modernising the securities exchange environment. Building on our recent record growth in securities derivative listings, the substantial extension of trading performance and capacity will underpin our strategy for significant development of market share and revenues in this important market segment. The SWX Swiss Exchange joins its participants in looking forward to a new future in the securitised derivatives market."