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The Swedish exchange Nordic Growth Market ("NGM") today announced a successful launch of the new trading system Elasticia. The new system, built to provide a flexible and high capacity platform, was introduced Monday this week on NGM's equity markets as well as on the Nordic Derivatives Exchange, NDX.
"We are very pleased with this successful launch of Elasticia, it enables us to focus on further growth of our exchange", said Roger Peleback, CEO of NGM. "Elasticia is very much influenced by the needs of our customers on an expanding market and we strive to facilitate the best possible environment for investors and market participants. With Elasticia up and running, we plan to introduce a number of new products and services to the benefit of Nordic investors."
Technically, Elasticia is an exchange trading system utilizing the latest industry standard protocols FIX 5.0 SP2 and FAST 1.1, which means that FIX-integrated applications benefit from native protocol access to the market. This eliminates the latency disadvantages for using FIX/FAST. It also uses standards like the EUSIPA classification of the exchange listed instruments. Easy integration, co- location services and a variety of formats in which market participants can access the trading data are all examples of what NGM can offer through the implementation of Elasticia.
"Within the next couple of weeks we expect to welcome new, international issuers and trading members to our exchange and we see great potential for future growth", said Roger Peleback.
