Trayport Exchange Systems, a provider of exchange trading systems, has signed a contract to supply a new exchange trading system to Bayerische Brse AG, the operator of the Munich Stock Exchange in Germany.
The new venue will launch in October 2009 and represents a new direction for Bayerische Brse. To date Bayerische Brse has successfully operated as an equity market, offering the ability to trade more than 11,000 securities from over 60 countries.
Under the agreement, Bayerische Brse will use Trayports Exchange Trading System platform to provide technology for a pan-European Carbon Emissions Exchange, a new trading venue for instruments including European Union Allowances and Certified Emission Reduction Units, with clearing and settlement provided by Deutsche Bank.
Having a flexible trading platform that allows us to grow as we need is an essential requirement. It is one that we know Trayports Exchange Trading System will provide. This will allow us to expand our offering into new asset classes, while supporting our existing clients, and remove any constraints found in our current system, says Christine Bortenlnger, board member of Bayerische Brse. It is also a real advantage for us to be able to access Trayports Trading Gateway community of energy traders.
We are delighted to announce this new relationship with Bayerische Brse. This contract reflects the inherent flexibility of Trayports Exchange Trading System which will allow Bayerische Brse to develop its business in this exciting market landscape, says Adrienne Quinn, head of Trayport Exchange Systems.
L.D.