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SWX has formally launched the new programme under the name “Quotematch” with the aim of enabling high-volume quoting capabilities for market makers in the SWX and virt-x quote-driven markets, primarily in Warrants, Bonds and Exchange Traded Funds.
Computershare was selected after an evaluation of several alternatives for its proven high-performance technology and track record of successfully delivering systems on time and on budget. X-stream’s existing quote-driven market model will enable SWX’s requirements to be met with minimal customisation and within an uncompromising implementation timeline.
Computershare X-stream is the only system available today that simultaneously supports such an extensive range of product classes and market models on a single platform. X-stream’s diverse set of market models includes order and quote driven markets, call markets, negotiated markets and hybrid market models combining each of these. It allows the concurrent trading of equities and debt, futures, options, swaps and FX, and it provides one of the most sophisticated strategy order trading capabilities available today, including implied order generation and legging-risk free execution of multi-leg strategy orders.
Commenting on the engagement, Peter Jessup, Managing Director of Computershare Markets Technology said: “We are very excited to have been selected for this critical project by SWX, the eighth largest exchange in the world by market capitalisation. We believe that our selection is proof of the advantages of X-stream technology over other solutions, essentially combining very high performance with functional versatility. Key to the SWX decision is our flexible approach to meeting our client’s needs and commitment to technological innovation.”
Jürg Spillmann, Head of SWX Group Executive Committee explains: “Not since the launch of our own trading platform in 1995 has SWX engaged in both a business and technical undertaking of the significance of Quotematch and the realisation of the programme will make a huge difference to the service capabilities and commercial success of the SWX group. The Computershare team has a great reputation and we are extremely confident in their capabilities.”
