Mondo Visione Worldwide Financial Markets Intelligence

FTSE Mondo Visione Exchanges Index:

Tokyo Stock Exchange: Procedure For Participating In Next-Generation Trading System Developer Competition

Date 22/08/2006

This page is for vendors who wish to apply to participate in the competition to select a developer for the next-generation trading system.

1. Scope of Development

The developer will be asked to develop the following stock trading system functions:

  • Order matching
  • Connection with Trading Participants
  • Market information dissemination
  • Connection with other systems including the clearing system
  • Market monitoring

2. Procedure for Selecting Developer

The competition will proceed in the following order: (1) application document screening (2) initial selection, and (3) final selection. TSE will present a "Request for Proposal" ("RFP" hereinafter) to applicants who passed the application document screening, and will then proceed with substantial examination.
The results of each level of the selection procedure will be notified to all applicants, but will not be released to the public.

(1) Application document screening

  • A collaborative group of companies may apply as one entity.
  • The names of the applicants are not released to the public.
  • The top five companies from among the applicants are selected to move to the next step.

(2)Initial Selection

  • TSE will select two or three finalists after reviewing the content of the proposals submitted in response to the RFP presented by TSE.

(3) Final selection

  • TSE will select the project developer from among those who passed the initial selection phase.

The competition schedule is as follows:

(1) August 22, 2006
Publish procedure for the competition
Begin accepting applications / application document screening

(2) September 8, 2006
Deadline for submitting applications

(3) September 22, 2006
Complete application document screening / notify applicants of the results

(4) Early October, 2006
Presentation of RFP to applicants who pass application document screening / begin initial selection process

(5) Mid-October, 2006
Complete initial selection / begin final selection process

(6) End of December, 2006
Select developer

 

3. How to Participate in the Competition:

(1)

Applicants are requested to fill out the "Application Material Request Form for the Next-Generation Trading System Developer Competition" on the TSE website and request the relevant materials for the application document screening process.

This form can be found at the following webpage:

Application form
* Japanese only
(2) After the applicant registers their information on the document request form, TSE will mail the "Application Materials for the Next-Generation Trading System Developer Competition" to the registered address. (This process may take several days.)

(3) After receipt of the above materials, applicants must send all documents necessary for screening to TSE by the deadline date (Friday, September 8, 2006) if they wish to officially participate in the competition.

4. Documents to be Submitted for Application Document Screening

Applicants are required to submit the following materials in Japanese when applying for the screening process.
Details are described in the above "Application Materials for the Next-Generation Trading System Developer Competition."

(1)

Corporate profile (any format)

(2) Confirmation form for participation in the next-generation trading system developer competition (format prescribed by TSE)
(3)

Specific information and materials which demonstrate that the applicant meets the following necessary requirements ((1) to (6)) (in any format)

(1)

Have experience in developing a public, large-scale (3000 man-month), and mission critical system (experience in developing a trading system for one of the world's leading exchanges specifically desirable)
(a) Specific information on development experience (system outline, number of man hours, period of development)
(b) Roles played in developing the system (primary vendor or other)

(2)

Possess advanced technology that will enable the next generation system to realize the world's highest level of scalability and quickness (please refer to "Core Factors in the Next-Generation Trading System" (PDF file)")
(a) Explanation of advanced technology that can be applied to this project
(b) Explanation of experience with / expertise in advanced technology that can be applied to this project

Core Factors in the Next-Generation Trading System
PDF

(3)

Have in-depth knowledge of securities exchange operations
(a) Experience in constructing securities exchange systems
(b) Number of system engineers available who have experience in constructing securities exchange systems (stated for every five years of experience)
(c) Number of system engineers available who have experience in constructing securities-related systems including securities clearing / settlement companies and securities companies (stated for every five years of experience)

(4)

Able to continuously provide services in Japan
(a) Number of system engineers continuously available, development bases in Japan, etc.

(5)

Have no problems in corporate management and trustworthiness
(a)Annual report for the latest business year

(6) Able to conclude a nondisclosure agreement as set forth by TSE (when RFP is presented)

 

Contacts
Tokyo Stock Exchange, Inc.
IT Planning
Tel: 81-3-3666-0141