Bolsas y Mercados Españoles (BME) has tripled its electronic trading system’s capacity to accommodate, through SIBE, higher market activity expected in the future as well as the increasing number of transactions on the market. In 2006 SIBE recorded over 200 million transactions.
From now on, once the revamp of its electronic platform is completed, SIBE will improve the trading capacity in its mainframe thereby reducing the average response time to less than 50%, in keeping with leading world stock exchanges.
SIBE, which was created in April 1989, was the first I.T. system in the world to link four stock exchanges and integrate them into a single stock market platform. The system’s high capacity supports an stock market whose equity turnover exceeded € 1 trillion in 2006.
“Currently, 90% of the orders are processed automatically. This is why we have equipped SIBE with the necessary means to improve its IT capacity and response time and thus enable it to reduce transaction times and cope with the increasing market activity. The system upgrade has allowed us not only to improve its trading capacity but also to oversize it to take in any future market demands”, said Jorge Yzaguirre, BME’s Equities Manager.
The improvements made on the system have been carried out in a transparent way for users, who have not experienced any disruptions during the system revamp.
SIBE has long been considered a showcase of modern Spanish stock markets. The electronic system guarantees that any investor, whether they are from Spain or elsewhere, receives the best price on the market at any time and the maximum liquidity and speed in the execution of their orders. The improvements achieved will help consolidate BME’s position in IT systems.
SIBE’s capacity and reliability have encouraged other stock international exchanges, particularly in Latin America, to run their markets on this technological platform.
