LSEG Millennium Trading Platform Live in Argentina09.27.2017 By John D'Antona Editor, Traders Magazine
LSEG Technology, London Stock Exchange Group’s diversified leading technology business, announced that it has completed the go-live rollout of its technology partnership with Caja de Valores S.A. (CVSA). CVSA acts as the technology provider for BYMA (Bolsas y Mercados Argentinos).
LSEG Technology is providing its agile trading technology infrastructure across multiple asset classes – equity, fixed income and repo, with derivative capability including equity, index, currency and commodity – via its highly reliable and scalable Millennium Exchange. This new system, which migrates BYMA clients to a single platform, improves capacity and offers more robust services as the Argentinean capital markets expand. The new platform is underpinned by Millennium Advanced Platform (MAP™), providing multi-asset class trading offerings powered by an integrated system without compromising performance.
The platform introduces new order types to the Argentinean market, allowing investors to place orders that only participate during key price formation events such as open, closing, and intra-day auctions. Completing this last phase, a new localized trader workstation is delivered to users for significantly enhanced graphical experience using real-time market data and statistics, visual and audio alerts, and summarized information such as top gainers and losers, most active instruments and intra-day technical analysis.
Chris Corrado, CIO and COO of LSEG, said:
“Argentina is one of the largest economies in Latin America and we are delighted to further develop their capital markets infrastructure. Our highly scalable, low latency platform is an ideal match for their needs. Following the successful rollout of our new platform at Bolsa de Valores de Lima (BVL) in Peru in 2015, this represents another milestone in our expansion strategy to help support markets across the region.”
Ernesto Allaria, Chairman of BYMA, Bolsas y Mercados Argentinos, added:
“BYMA integrates and represents the key participants of the stock market. With an agile, modern and competitive platform, it offers transparency and liquidity to the local capital markets. BYMA is the innovation necessary for the development of the country as part of worldwide markets and investors.
Migrating to a high-performance trading platform through LSEG Technology’s Millennium Exchange represents a significant step forward for BYMA and the Argentinean market.”
The union would bolster both exchanges while upping the market data wars.