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The International Securities Exchange (ISE) completed Technology Release 3.0, the latest upgrade to its new trading system based on the OptimiseTM trading architecture. With this release, ISE introduced the technology necessary to enable Legging Orders, a new order type scheduled to go live in early May. With Legging Orders, ISE will significantly enhance the execution of multi-legged strategy orders by enabling greater interaction of the complex order book with the regular order book. The result will be an increased fill rate for multi-legged strategy orders as well as tighter spreads and increased liquidity on the regular order book.
Along with Technology Release 3.0, ISE has also finalized its roll out of the Exegy Ticker Plant to reduce latency for its inbound market data feeds. The Exegy implementation also reduces hardware infrastructure and software license costs because it decreases the number of systems necessary to process market data.
As previously announced, ISE recently began publishing latency statistics for Optimise on its website. Updated statistics for Technology Release 3.0 will be available in approximately two weeks on www.ise.com/latencystats.
