SIX Swiss Exchange upgrades to NASDAQ OMX INET based platform
First Published 24th April 2012
SIX Swiss Exchange launches equity trading, upgrades SWXess with with NASDAQ OMX's INET trading technology
Christian Katz, CEO, SIX Swiss Exchange
"Today represents the next major milestone in our continuous pursuit of best-in-class service."
Zurich - SIX Swiss Exchange has completed the upgrade of its SWXess trading platform with the X-stream INET technology developed by NASDAQ OMX. SIX Swiss Exchange is the first exchange to combine the capabilities of the X-stream platform with INET trading technology.
On April 23, SIX Swiss Exchange launched equity trading, together with the new co-location service, the system upgrade is intended to enable higher order volumes (capacity) to be matched and executed in a shorter time (latency). Tests under trading conditions have shown that average round-trip latency is 37 microseconds.
Christian Katz, CEO SIX Swiss Exchange: "We have seen the number of participants, the number of securities listed and the number of trading transactions rise strongly in the last two years. By upgrading our trading platform and launching our co-location service, we are keeping pace with the expansion of SIX Swiss Exchange. Today represents the next major milestone in our continuous pursuit of best-in-class services. Client focus combined with state-of- the-art technology are essential to attracting additional liquidity. Right now, we are setting a new standard for trading, risk management and the future growth of SIX Swiss Exchange."
Lars Ottersgård, Senior Vice President NASDAQ OMX Market Technology: "SIX Swiss Exchange has always been in the technology forefront and today's technology upgrade truly reinforces their position in the global exchange arena. The ultra-low latency enabled by X-stream INET, in combination with functionality and throughput advantages, puts SIX Swiss Exchange in a prime position to attract new volumes and members to its markets."
Marco Dottarelli, Managing Director, Equinix (Switzerland) GmbH: "Switzerland continues to be one of the most competitive financial centers in the world. With Platform Equinix we are fully committed to fulfill the specific requirements of exchanges and other financial services institutions. The X- stream INET platform and the Colocation service inside our Zurich data center will provide an even more attractive offering to the financial services community. This guarantees very low latency and the possibility for market participants to increase their trading capacity constantly."