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Selection of the Developer for the Next-Generation Trading System |
Selection of the Developer for the Next-Generation
Trading System
Tokyo Stock Exchange, Inc. (TSE) held an open competition in order to select a developer for its next-generation trading system, recognizing that this system will become the foundation of the public securities market. The selection process began in August. As a result of the final selection of the competition, the TSE has named FUJITSU LIMITED (FUJITSU) as the developer for its next-generation trading system.
After narrowing down the candidates to 5 groups through document screening last September, the TSE received a proposal in response to a Request for Proposal (RFP) from each company. The TSE first confirmed whether the detailed contents in the proposal met its requirements, and then scored each item in the proposal according to the priorities of functions in the project to make comprehensive evaluations. Then, narrowing down the 5 groups to 2, the TSE further brushed up on its screening, such as checking the items more thoroughly and interviewing people who would be in charge of the project. Through these screening processes, the TSE made its final decision. There are some items that require particularly high-level and advanced technology, such as achieving speediness or simultaneously pursuing both speediness and reliability. As such, the TSE also asked knowledgeable outside persons to participate in this screening process to evaluate the finalists more carefully.
The TSE has been steadily preparing to develop the next-generation trading system since March of this year, which started with visits to stock exchanges in Europe and the US. Upon selecting the developer, the TSE's determination is reaffirmed to have the system in operation during the latter half of 2009. From now on, the TSE will promptly launch a design process and fix the total amount of expenses required to develop the system by June 2007.
FUJITSU has expressed its strong willingness to devote company-wide efforts to the development of the next-generation trading system by putting this project under the immediate supervision of the CEO. FUJITSU and the TSE, with the kind support and cooperation of trading participants, will work as one to further proceed with this important project.
