OSE announced yesterday that it was approved by its Board of Directors to outsource development of the New Generation Trading Platform to Hitachi, Ltd., and the New Generation Derivatives Clearing Platform to Fujitsu Limited, as well as to initiate development of these platforms.
In order to assure greater transparency in its vender selection process, OSE received proposals, based on its Request for Proposal (RFP), from numerous candidate companies. After carefully reviewing all the proposals, OSE selected Hitachi and Fujitsu to develop its new platforms, based on their proposals to successfully develop trading and clearing methods unique to Japan's market and assure reasonable development and maintenance costs.
OSE aims at building new platforms with prompt order handling, flexibility, scalability, open connectivity as well as liability and user-friendliness. The New Generation Trading Platform and Derivatives Clearing Platform are expected to be launched in FY 2005 and in FY 2004 respectively.
We believe the introduction of the New Platforms will provide a more comfortable environment for trading, which will lead to vitalization of OSE products, including Nikkei 225 Futures and Options, and enable a flexible introduction of new products and trading schemes.
