Trayport Exchange Systems announced that Sibiu Monetary Financial and Commodities Exchange (SIBEX) in Romania has gone live with Trayports Exchange Trading System for the trading of single stock, interest rate, currency and gold futures and options.
Trayports Exchange Trading System gives SIBEX a market leading exchange matching engine that fully supports the further development of its futures and options market in Romania. The new system will also allow brokers in Eastern Europe easy access to SIBEX to trade single stock, interest rate, currency and gold futures and options. SIBEX is also planning to launch Contract for Difference (CFD) market during 2010 using Trayports Exchange Trading System.
SIBEX chose to use Trayports Exchange Trading System to support our requirement for a fast reliable system that can handle large trading volumes, says Darius Cipariu, deputy managing director of SIBEX. We had built our own platform and, although we kept upgrading, we found that as our exchange grew the system was becoming too limited. Trayport provides a platform that comfortably supports our requirement for 5000 or more trades per day and will also enable us to establish new markets very quickly. This is vital to SIBEX.
Since entering the agreement with Trayport, SIBEX has introduced its own web based front end trading platform and clearing system connecting to the Trayport Exchange Trading System using Trayports Risk API.
Our web based trading platform will enhance our trading capability, says Darius Cipariu. The fact this is backed by a reliable matching engine like Trayports Exchange Trading System can only be a major benefit. It means that with over 40 brokerages as clients, each having up to 1000 retail clients, we are very well positioned to expand into new asset classes whilst continuing to support our existing clients.
D.C.