Orc Software, a provider of technology for advanced derivatives trading and connectivity applications, has confirmed TradElect connectivity for local Italian and worldwide members of the financial industry affected by the impending merger of Borsa Italiana with the London Stock Exchange.
Members of the Italian Exchange are working with Orc Software to streamline market access and meet the LSEs tight migration schedule for Borsa Italiana. Phase one of the migration is scheduled for September 2008 when stocks traded on the MTA market will be migrated onto the LSE platform.
“The merger of Borsa Italiana and the London Stock Exchange creates immediate cross-market opportunities for banks and brokers in Italy and the UK. Today Orc Software can deliver to members of Borsa Italiana MTA market a ready-to-use, fully proven connectivity module to TradElect and Infolect thus making their migration to the new trading platform seamless and cost effective,” says Matteo Carcano, head of Western Europe, Orc Software.
The merger of Borsa Italiana and the London Stock Exchange creates one of the biggest diversified exchange groups in Europe for the listing and trading of equities and the electronic trading of ETFs, securitised derivatives and fixed income products. It creates cross-market access opportunities via the operation of both markets on TradElect, the London Stock Exchanges trading platform.