LatAm Invests in Trading Technology05.07.2015
Latin America represents a growth area for trading technology, and exchanges in the region are investing in new systems to facilitate domestic and cross-border trading.
“LatAm, like a lot of other frontier and emerging markets, is looking to heavily invest in technology and embrace new global standards in electronic trading,” Mack Gill, CEO of MillenniumIT, told Markets Media. “It’s a common theme we’re seeing across Asia, Africa and Latin America.”
Bolsa de Valores de Lima (BVL), the Peruvian stock exchange, has gone live with MillenniumIT trading technology. MillenniumIT, whose parent company and largest customer is LSE Group, provides technology that powers a number of exchanges around the world.
The deployment represents the first live implementation for MillenniumIT in Latin America. Going live at Bolsa de Valores de Lima in Peru represents a significant milestone and is an important step toward creating new business and investment opportunities in this market. “Lima’s our first live client, but we’re also working very actively with Argentina,” said Gill. “We announced a deal with Argentina last year, and we are working with them this year on the solution. We are seeing definite regional trends. It’s definitely an active market.”
BVL exchange has replaced its legacy trading technology infrastructure with the multi-asset trading platform Millennium Exchange and Smart Order Router (Millennium SOR) for equities and fixed income trading and connectivity throughout the MILA (Mercado Integrado Latino Americano) region, according to a release. Both products are underpinned by Millennium Advanced Platform (MAP), which supports the exchange’s trading operation and ensures it meets regulatory requirements.
The complete MillenniumIT platform has been adapted to meet connectivity and language requirements of the market in Peru as well as the extended MILA region of Mexico, Chile and Colombia.
Francis Stenning, CEO of Bolsa de Valores de Lima, said in a statement: “Upgrading our existing platform with next generation technology will allow us to offer more efficient services to the capital markets. With this new platform from MillenniumIT, supported by London Stock Exchange Group, the benefits of globalization will take advantage; achieving a faster interconnection with the markets in our region, beginning with MILA. We have combined our great global knowledge of the capital markets with real flexibility to provide a solution that is uniquely suited to our local needs.”
Featured image via iStock
Justin Chapman will lead the Digital Assets and Financial Markets group.
BNP Paribas Asset Management launched its first European ESG ETF Barometer survey.
By Greta Zhou and Andy Cheung, APAC AES, Credit Suisse
The ETF provides a way for investors to potentially profit from a decline in the price of bitcoin.
With Julien Messias, Founder, Head of Research & Development, Quantology Capital Management