The SWX Swiss Exchange and virt-x, its London-based securities exchange, will facilitate increased levels of algorithmic trading, and Direct Market Access (DMA) opportunities for market participants, through a programme to provide greater capacity and reduced latency. The SWX Swiss Exchange and virt-x initiative named “Trading for the Future” is to transform trading services for participants through the implementation of a high capacity, low latency trading platform. Offering at least ten times more capacity, ten times higher speed and based on technology initially used by the SWX Group for trading in warrants and structured products, the platform is ideally suited to high frequency algorithmic trading and DMA, and will be implemented in four phases over a three-year period.
In addition to enhanced capacity and speed, “Trading for the Future” reduces costs for participants by ensuring applications are tailored to their specific requirements. SWX Swiss Exchange and virt-x will also be reviewing their tariff structure for 2008 to further enhance the key components of their service offering.
“We recognise the importance of providing open and innovative trading services and this latest initiative addresses the needs of our members and the key business drivers in securities trading.” Says, Jrg Spillmann, Head of the SWX Group Executive Committee.
“We are committed to driving growth in blue-chip trading and meeting the needs of our members who indicated their desire for greater transaction capacity and lower latency. This latest development in the evolution of our trading services provides a high performance and cost effective offering for our members to capitalise on an increasingly automated market” Says, Jim Gollan, Chairman of virt-x.