Bursa Malaysia and NYSE Euronext Collaborate on an Open, Standards-based Derivatives DMA Platform
New York and Kuala Lumpur, 21 April 2008 – NYSE Euronext (NYX) and Bursa Malaysia recently introduced a state-of-the-art direct market access (DMA) platform for the Malaysian derivatives market based on technology provided by NYSE Euronext Advanced Trading Solutions.
For Bursa Malaysia, the new service leverages NYSE Euronext’s SFTI® technology to enable Bursa Malaysia member firms to more efficiently sponsor and manage their clients’ direct access to the market. The new Bursa Malaysia infrastructure consists of a DMA gateway offering the privacy, low latency and high throughput of direct market access with the control and risk management of traditional broker-routed flow. The Bursa Malaysia DMA gateway utilizes the same core technology that NYSE Euronext is deploying throughout the company’s U.S. and European markets. The Bursa Malaysia DMA gateway will also be interconnected with other nodes on the SFTI network to support international access to the exchange and its members.
“In launching this new trading gateway, we are now able to partner with our local member firms to offer an ultra-high performance, risk-managed channel direct to the market for trading,” said Omar Merican, Chief Operating Officer of Bursa Malaysia . “As a node on the global SFTI community, this new solution provides truly open and global access to our market through a variety of networks and end-user applications. The investment we have made in Bursa Trade, our core trading platform, allows us to scale easily to accommodate the increased transaction flow we expect DMA to generate.”
The NYSE Euronext-provided solution supports sophisticated, latency sensitive traders and leverages accepted industry standards for connectivity and messaging. This open approach provides DMA traders maximum flexibility in choosing networks and trading applications. Initially, the DMA solution will support direct leased lines and BT’s Radianz Shared Market Infrastructure.
“We worked closely with the Bursa Malaysia DMA team and a panel of Kuala Lumpur member firms to eliminate the traditional barriers to DMA trading,” said Peter Tierney, Managing Director, Asia-Pacific, NYSE Euronext. “The resulting solution provides Bursa Malaysia members with best-of-breed technology and provides members’ clients with access to an advanced platform using their choice of trading engine and network.”
Stephen Kwong at AMFutures in Kuala Lumpur, said: “The solution makes true DMA relatively simple and straightforward – the system is open and standards based so our clients were able to leverage existing connectivity and trading technology investments and all parties have transparency into the over all performance of the system.”
About Bursa Malaysia Berhad
Bursa Malaysia Berhad is a public company limited by shares under the Companies Act 1965. Bursa Malaysia is an approved exchange holding company under Section 15 of the Capital Markets and Services Act 2007. Other companies in the Bursa Malaysia Berhad Group of companies include a stock exchange, a derivatives exchange, an off-shore international financial exchange, equity and derivatives clearing houses, a central depository, an information services provider and an Information Technology services provider.
Bursa Malaysia Securities Berhad, a wholly-owned subsidiary of Bursa Malaysia Berhad, is an approved stock exchange under Section 8 of the Capital Markets and Services Act 2007.
About NYSE Euronext
NYSE Euronext (NYX) operates the world’s leading and most liquid exchange group, and seeks to provide the highest levels of quality, customer choice and innovation. Its family of exchanges, located in six countries, include the New York Stock Exchange, the world's largest cash equities market; Euronext, the Eurozone's largest cash equities market; Liffe, Europe's leading derivatives exchange by value of trading; and NYSE Arca Options, one of the fastest growing U.S. options trading platforms. NYSE Euronext offers a diverse array of financial products and services for issuers, investors and financial institutions in cash equities, options and derivatives, ETFs, bonds, market data, and commercial technology solutions. NYSE Euronext's nearly 4,000 listed companies represent a combined $27.3 / €17.3 trillion in total global market capitalization (as of March 31, 2008 ), more than four times that of any other exchange group. NYSE Euronext's equity exchanges transact an average daily trading value of approximately $169.6 / €113.2 billion (as of March 31, 2008 ), which represents more than one-third of the world's cash equities trading. NYSE Euronext is part of the S&P 500 index and the only exchange operator in the S&P 100 index. A unit of NYSE Euronext, NYSE Advanced Trading Solutions is a leader in providing standards based, high performance connectivity, data management and transaction solutions for trading firms, vendors and financial markets around the world. For additional information visit: www.nyse.com/tradingsolutions.
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