Vienna Stock Exchange Launches New Technology07.31.2017
The Vienna Stock Exchange is opening up a new dimension in electronic trading in Austrian and international stocks today. After having run the exchange for 17 years on the Xetra system, the Vienna Stock Exchange is now going live with the T7 trading system, the most cutting-edge global trading technology. The system is provided by VSE’s technology partner, Deutsche Börse, which has been operating it on the German market since the beginning of July.
T7 was developed to meet customers’ highest technical and functional requirements for a modern and secure securities trading system. Its new features include coverage of stringent regulatory requirements such as MiFID II, intelligent new order types as well as innovative elements such as 24/7-availability of a simulation infrastructure in the cloud. Exchange members who trade on several markets also benefit from synergies with the derivatives trading system, which also entails lower costs.
“With the migration to T7, we offer our members and listed companies next-generation systems that not only make it more convenient to connect and trade, but also future-proof them ahead of new regulatory requirements and technology changes. As a stock exchange we operate in an extremely competitive environment and can only ensure the best turnover and quality of execution by continuously upgrading our technology. By changing the system to T7 we are strengthening our position and making further progress towards our ambitious growth goals. VSE is the market leader in trading in Austrian stocks – and we aim to stay ahead of the game,” said Ludwig Nießen, COO & CTO of Wiener Börse AG.
“We are pleased that the Vienna Stock Exchange chose to migrate to our T7 trading technology. It thus relies on a stable trading technology, which has proven its worth on various international stock markets in the world. The Vienna Stock Exchange will continue to profit from our constantly evolving technology for the cash market and from a broad network of international members,” said Holger Wohlenberg, Managing Director of Deutsche Börse Market Data + Services.
The Vienna Stock Exchange and Deutsche Börse have been technology partners since the introduction of the fully automated trading system Xetra® in 1999. The electronic trading systems of Deutsche Börse are well-established worldwide and enjoy an excellent reputation regarding system reliability, speed and security. A system availability ratio of almost 100% highlights the successful cooperation. The Vienna Stock Exchange is the technical system operator for four additional stock exchanges in the region (Budapest, Ljubljana, Prague and Zagreb) and is planning to introduce latest trading technology to its partners in the coming year.
Source: Vienna Stock Exchange
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