DEUTSCHE BÖRSE LAUNCHES XETRA 10.0; RTS PLANS NEW XETRA GATEWAY
Posted June 8, 2009
FRANKFURT – Deutsche Börse has launched Xetra Release 10.0, the newest
version of its pan-European trading system, as trading solutions
provider RTS Realtime Systems Group prepares a fourth quarter launch of
its own gateway to the Xetra International Market.
Xetra Release 10.0 features technical improvements supporting
algorithmic trading, increasing the speed and flexibility of placing
orders, and increasing the comprehensiveness and speed of transmission
for market data, such as order-book volume or best bid-ask spread. The
new version of the system also offers “non-persistent” orders, which are
not saved in exchange systems and are thus designed not be executed
after interruptions in trading.
“Our aim is to continually enhance market efficiency. The new Xetra
Release 10.0 will enable Deutsche Börse to improve the speed,
flexibility and performance of its trading system – especially in terms
of algorithmic trading,” says Rainer Riess, Managing Director of the
Xetra Market Development department at Deutsche Börse.
Xetra participants can now use two new separate high-speed interfaces.
Enhanced Transaction Solution allows orders and prices to be entered
more quickly. Participants are also free to configure the Enhanced
Transaction Solution interface themselves, increasing flexibility. The
new release can lead to transmission times for order data sent to Xetra
and then back again to trading participants being cut by at least 50
percent. The second new high-speed interface, Enhanced Broadcast
Solution, serves to transmit un-netted market data with significant
order book depth as quickly as possible. The high-performance
transmission mechanism reduces latency, meaning that trading
participants can be informed faster than before about the status of
their current orders.
RTS’s Xetra International Market will enable participants in 18
different countries to extend seamlessly their trading operations to
include highly liquid European equities from across those countries,
including all Dow Jones EURO STOXX 50 stocks.
“As one of the original technology providers to the German financial
markets offering access to more than 100 marketplaces globally, we are
pleased to offer connectivity to Xetra International Market,” says Mark
van Vugt, Managing Director,
RTS will offer access to the new platform through its entire portfolio
of trading solutions, including its proprietary and FIX-based
application programming interfaces (APIs), the RTS front-end trading
systems RTD and eRTD, as well as RTD Tango, its low-latency and
high-performance algorithmic trading solution.
“With XIM, we will enable our market participants to tap into new
trading and arbitrage opportunities,” says Michael Krogmann, Executive
Director, Head of Sales Cash Market Development at Deutsche Börse.
“Participants will also benefit from our expertise and the efficiency of
the existing superior infrastructure for low latency algorithmic
trading. Cleared by Eurex Clearing,