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MICEX Issues New Recommendations For Trade Participants On The MICEX Stock Exchange Who Use Remote Access To The MICEX Soft- And Hardware Complex

Date 19/09/2007

The MICEX Executive Board has adopted new recommendations for trade participants on the MICEX Stock Exchange who use remote access to the MICEX soft- and hardware complex. These recommendations contain specific proposals to upgrade participants’ systems to improve their efficiency and to guarantee their compliance with technical requirements of the MICEX Stock Exchange’s trading system and the MICEX clearing system.

The MICEX SE’s Technological Policy Committee has adopted these recommendations and urges companies to upgrade their facilities as soon as possible to avoid problems when accessing the MICEX trading system, considering the growing volume of trading.

These recommendations have been written down as the result of load tests carried out in June 2007. The tests involved procedures to handle emergency situations, what helped to reveal critical parameters of the equipment used by trade participants to access the stock market and the telecom infrastructure.

The new recommendations for trade participants on the MICEX Stock Exchange who use remote access to the MICEX soft- and hardware complex via dedicated communication channels are as follows:
  1. As the hardware platform for trader terminals it is recommended to use computers with at least 512 Mbytes RAM, running MS Windows 2000 or MS Windows XP operating system.
  2. Trade participants who establish more than four connections to the trading system for their operations on the stock market (via the universal trader terminal or the universal bridge) are recommended to have a communication channel with bandwidth capacity of at least 512 Kbps.
  3. It is recommended to set up a backup connection channel when connecting to the MICEX soft- and hardware complex. Both dedicated communication channel or the Internet can serve this purpose.
  4. Trade participants who establish more than ten connections to the trading system for their operations on the stock market (via the universal trader terminal or the universal bridge) are recommended to use the Gateway server.
  5. Trade participants who use Gateway servers are recommended to upgrade their telecom infrastructure to connect to the MICEX soft- and hardware complex via two dedicated channels provided by the two different providers, named as the MICEX official partners. The list of such providers is published on the MICEX web site at http://www.micex.ru/techaccess/providers.html.
  6. If configuration of the software & hardware complex used by the trade participant to carry out operations on the MICEX Stock Exchange includes Gateway servers, then it is recommended to use Gateway servers with at least 2 GB RAM.
  7. Trade participants who connect electronic broker systems via the universal bridge are recommended to use Cisco PIX Security Appliance to increase the speed and the reliability of trading data transfer.
  8. Trade participants who use old models of network routers, such as HP 440 ER and HP 650 are recommended to replace them with Cisco Systems modular access routers of 1800, 2800 and 3800 series. More information on the types of routers can be found on Cisco Systems web site: http://www.cisco.com/en/US/products/hw/routers/index.html.
  9. All the trade participants are recommended to use only certified equipment and licensed software.

Brief information

The MICEX Group has an electronic trading and depository system satisfying the best world standards of reliability, efficiency, protection and the continuity of business. The soft- and hardware complex includes the real-time trading, settlement and depository systems. The telecom network of the complex is supported by leading providers of network services and covers the whole territory of Russia. The core of the MICEX global trading network is two computing centers: the main one and the reserve one. The system platform of the MICEX soft- and hardware complex is based on Hewlett-Packard UNIX servers (over 80). The MICEX trading complex is capable of registering up to 800 000 orders and 500 000 trades a day. As the liquidity of the exchange-based market grows, the capacity of the trading complex is increasing. Over 1500 remote workplaces in banks, broker companies and other financial institutions in more than 100 Russian cities are connected to the Exchange via fiber-optic lines, satellite and other communication channels. Over 300 broker systems are connected to the MICEX trading complex to allow investor connections via remote terminals through the Internet.

The Technological Policy Committee of the MICEX Stock Exchange was established in July 2005 to organize interaction among companies of the MICEX Group, professional participants in the securities market and developers of software with the aim of studying the needs of trade participants in the area of the Exchange’s trading system development. The Committee is comprised of representatives of the MICEX Group, the St. Petersburg Currency Exchange, developers of Internet trading systems from SMVB-IT Company, Privolzhski Stock Center, MDF-InfoCenter, as well as representatives of companies and banks being the trade participants on the MICEX Stock Exchange: Alfa-Bank, Gazprombank, Sberbank, ALOR-Invest, ATON, BrokerCreditService, KIT-Finance, Otkrytie Broker House and Troika-Dialog.

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