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NYSE Euronext (NYX) announced that all European equities, including Exchange-Traded Fund (ETF) products, listed on the company’s Amsterdam, Brussels, Lisbon and Paris markets are now trading on its next-generation Universal Trading PlatformSM following the successful migration of these markets from the Nouveau Système de Cotation (NSC) platform. (1)
The European transfer to the Universal Trading Platform represents a key milestone in the new electronic trading platform’s roll-out across NYSE Euronext cash and derivatives markets in Europe and the U.S.(2) In addition the Universal Trading Platform will offer access to the company’s new European Multi-Trading Facilities (MTFs): NYSE Arca Europe and SmartPool. Ultimately, trading customers will be provided with connectivity to all the NYSE Euronext markets through one world class, ultra-low latency global network.
Roland Bellegarde, Group Executive Vice President and Head of European Execution for NYSE Euronext said, "We believe that our customers will immediately benefit from one single point of access to all our cash equities markets in Europe, thereby reducing costs and producing a dramatic increase in market efficiency. The introduction of the Universal Trading Platform is strategically important to our business, and gives us a significant competitive advantage in Europe, enabling us to meet the emerging needs of both existing and future customers."
Anthony Attia, Executive Director and Head of the Universal Trading Platform Program, said, "The delivery of the second stage in the roll-out of the Universal Trading Platform demonstrates NYSE Euronext’s commitment to continuous innovation in order to provide technology-driven efficiencies to our customers. They will benefit from the superior functionality, faster speed and much greater capacity of the Universal Trading Platform."
Customers trading on NYSE Euronext European cash markets will realize reduced latencies from 1.5 milliseconds per roundtrip on NSC to 150-400 microseconds per roundtrip on the Universal Trading Platform . In addition to delivering exceptionally fast transaction speed and system-wide reliability, the Universal Trading Platform sets new industry standards for capacity with the ability to handle 100,000 orders per second.
Stanley Young, CEO of NYSE Technologies and co-Global CIO of NYSE Euronext said,"The Universal Trading Platform, which was developed by our in-house technology and business teams, provides a truly advanced market infrastructure and is based on the best-of-breed NYSE Euronext systems and technology. We see a tremendous opportunity to offer the Universal Trading Platform solutions set to other markets and financial service firms globally as a commercial offering from NYSE Technologies."
Following the successful migration of the European bond market in December 2008, this second phase of the company-wide implementation of the Universal Trading Platform will be followed by its deployment on NYSE Arca Europe, NYSE Euronext’s new MTF which is set to launch in March 2009, and the NYSE Arca equities market in the U.S. in the third quarter of this year.
Background:
1. Over 2,000 European equity products migrated from the Nouveau Système de Cotation (NSC) platform onto the Universal Trading Platform, involving approximately 280 of NYSE Euronext’s European customers. All four European cash equity markets were involved: Amsterdam, Brussels, Paris and Lisbon.
2. The four platforms which the Universal Trading Platform will replace are as follows:
·The Nouveau Système de Cotation (NSC) for Euronext;
·NYSE Arca in the U.S.
·The electronic order book supporting the NYSE market.
·Liffe Connect® for the Liffe derivatives market.
3. The Universal Trading Platform’s rollout timetable is as follows:
·European bonds, 8 December 2008; successfully completed.
·European cash equities and ETFs, 16 February, 2009; completed.
·NYSE Arca Europe launch, expected March 2009;
·NYSE Arca in the U.S., expected Q3 2009;
·NYSE and start of roll-out on European Derivatives, expected Q4 2009.
4. The Universal Trading Platform is composed of four main components supported by NYSE Technologies:
·Trading Engine- the cross-market core of the platform which provides a rich function set for cash and derivatives markets and enables multiple market models to be configured for whole markets or individual product groups. Architected for ultra-high resiliency within and between data centres it also provides the ultra-low latency expected by the world's most demanding exchanges.
·Common Customer Gateway - which provides clients with multi-format order entry and access to multiple trading platforms. It is physically located in NYSE Euronext data centers.
·Market Data Distribution - which allows for the efficient and flexible creation of new market data products and ultra-low-latency dissemination of information.
·Secure Financial Transaction Infrastructure (SFTI®) - the high performance network backbone which enables clients to have access to all NYSE Euronext services through a highly reliable, resilient, low-latency network infrastructure.
5. Definition of Milliseconds and Microseconds
·A millisecond is one thousandth of a second.
·A microsecond is one millionth of a second.
About NYSE Euronext
NYSE Euronext (NYX) is the world’s leading, most liquid and diverse exchange group. It offers a broad and growing array of financial products and services in cash equities, futures, options, exchange-traded products, bonds, market data, and commercial technology solutions, all designed to meet the evolving needs of issuers, investors and financial institutions. Spanning multiple asset classes and six countries, NYSE Euronext’s exchanges include the New York Stock Exchange, NYSE Liffe, Euronext and NYSE Arca. With more than 6,500 listed issues, more than any other exchange group, trading on NYSE Euronext’s equity markets represents more than one-third of the world's cash equities volume. NYSE Euronext also manages the leading European derivatives exchange by value of trading. NYSE Euronext is part of the S&P 500 index and the only exchange operator in the S&P 100 index. For more information, please visit www.nyx.com
