The Australian derivatives market now powered by Cinnober
The Australian Securities Exchange (ASX) launched its new derivatives trading platform on March 20th 2017. The technology powering the ASX Trade24 trading service has been replaced with a solution from Cinnober, built on the flexible and functionality-rich TRADExpress Trading System. The highly scalable solution uses global standard protocols facilitating cost-efficient operations for ASX and its clients, with faster time-to-market for new initiatives.
Products available to trade on ASX 24, ASX’ derivatives market, include interest rate derivatives, equity derivatives, grain derivatives, and energy derivatives. Some of the products, including ASX three and ten-year bond contracts, are rated in the top ten globally traded interest rate products. The three-year contract is the most actively traded futures on government debt outside the US and Europe.
“Today’s marketplaces need flexible yet robust and reliable technology solutions that are easy to connect to,” comments Cinnober’s CEO, Veronica Augustsson. “Global competition increases the demands on efficiency and responsiveness to changing customer needs. We are extremely happy to work with ASX and provide technology that puts them in a very strong position going forward.”