OM recently advised ASX that it had completed development of its new trading software, CLICK XTTM Marketplace Solution, specifically enhanced to incorporate equities trading functionality. ASX has used OM's CLICKTM system for trading derivatives since 1997, with equity options, index options, index futures and commodity futures all currently traded on CLICKTM . Last year ASX renewed its CLICKTM support agreement with OM for a further five years.
This design study will enable ASX to compare the merits of CLICK XTTM with ASX's existing equities trading system, SEATSTM . Initial internal review by ASX has envisaged that CLICK XTTM may provide efficiencies for ASX market participants by enabling access to all ASX products on the one system.
SEATSTM remains a robust and capable trading system with significant excess capacity. However, the design study will enable ASX to review an alternative to the continual upgrade of SEATSTM . Any decision regarding future system needs will therefore be contingent on sufficient value and system capabilities being demonstrated through the design study.
Reviewing alternative proposals will ensure that ASX delivers the best possible service for our customers and value for our shareholders. ASX will actively seek the feedback of market participants through this process.
