Montreal Exchange Upgrades SOLA® Derivative Trading Platform


MONTREAL, Nov. 5, 2013 /CNW/ – The Montreal Exchange (MX) announced today that it has upgraded its SOLA derivative trading platform, improving both trading system performance and order management capacity.

The upgrade benefits market participants by simultaneously decreasing response times and increasing messaging throughput.  The new infrastructure is expected to deliver a nearly 300% improvement in trading response time with an overall median response time measure at the network edge of approximately 460 microseconds.  Added messaging capacity has been doubled to accommodate 100,000 quotes per second and is being offered to all approved participants. The upgraded platform continues to provide fair and consistent allocations among different types of participants.

“We are especially proud of these enhancements to SOLA, which represent a key phase of MX’s continuing efforts to refine and improve our trading platform,” said Alain Miquelon, President and Chief Executive Officer, Montréal Exchange, Group Head of Derivatives Markets, TMX Group.  “We are hopeful that with these upgrades, participants will increase their use of MX derivatives, which in turn will enhance liquidity for the Canadian derivatives market as a whole.”

SOLA represents the core technology for MX, CDCC and BOX Options Exchange, which is majority owned by the MX. SOLA is also the technology infrastructure for derivatives trading for London Stock Exchange Derivatives Market, the Oslo Bors and Borsa Italiana.

“SOLA is a globally recognized trading platform and we are committed to further strengthening its performance for the benefit of our customers,” said Brenda Hoffman, Chief Information Officer, Group Head of Technology, TMX Group. “Combined with the recent introduction of TMX Quantum XA™ on TMX Select in August, TMX Group continues to deliver technology leadership through innovations that address the needs of market participants.”

About TMX Group (TSX:X)

TMX Group’s key subsidiaries operate cash and derivative markets and clearinghouses for multiple asset classes including equities, fixed income and energy. Toronto Stock Exchange, TSX Venture Exchange, TMX Select, Alpha Group, The Canadian Depository for Securities, Montreal Exchange, Canadian Derivatives Clearing Corporation, Natural Gas Exchange, BOX Options Exchange, Shorcan, Shorcan Energy Brokers, Equicom and other TMX Group companies provide listing markets, trading markets, clearing facilities, depository services, data products and other services to the global financial community. TMX Group is headquartered in Toronto and operates offices across Canada (Montreal, Calgary and Vancouver), in key U.S. markets (New York, Houston, Boston and Chicago) as well as in London, Beijing and Sydney. For more information about TMX Group, visit our website at www.tmx.com. Follow TMX Group on Twitter at http://twitter.com/tmxgroup.

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