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Universal Trading Platform
The Universal Trading Platform is a multi-market, multi-geography and multi-regulation exchange platform for all NYSE Euronext markets. The Universal Trading Platform has been developed to replace all current trading systems within NYSE Euronext, for both cash and derivatives markets, in Europe and in the US, and is already in place for NYSE Euronext’s European cash markets.
Incorporating best practices from across NYSE Euronext’s matching engines (NSC, Liffe Connect, Arca and NYSE), the Universal Trading Platform is a unified enhanced platform offering a new industry standard through its enriched technical and functional features.
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. Designed for ultra-high resiliency within and between data centres, it also provides the ultra-low latency demanded by the world's most exacting exchange
- Common Customer Gateway - provides clients with multi-format order entry and access to multiple trading platforms. It is physically located in NYSE Euronext data centres
- Market Data Distribution - 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.
NSC
NSC® (Nouveau Système de Cotation) is a leader in the world's financial markets thanks to the breadth of its functional scope and its cost-effectiveness. NSC® offers multiple product coverage for equities, bonds, warrants, futures, and options, as well as multiple market model types - for example, order driven, quote driven, or hybrid. It was developed by the Paris Bourse in the early 1990s and introduced in 1995 as an upgrade of the CAC system (Cotation Assistée en Continu). The latest version of NSC® runs on UNIX and Linux platforms to provide enhanced functionality and improved price-performance.
The NSC platform is a modular system with an open architecture which is compatible with the standard international communication protocols. The latest version of NSC® runs on UNIX and Linux platforms to provide enhanced functionality and improved price-performance.
NSC is currently in use in 12 exchanges worldwide, including Euronext in Paris and Bursa Malaysia.
LIFFE CONNECT
LIFFE CONNECT® is a leading global derivatives trading system, offering low latency, high flexibility and advanced functionality to its global customer base. LIFFE CONNECT® is distributed to 825 client sites in 31 countries. LIFFE CONNECT® was designed and developed by the London International Financial Futures and Options Exchange (LIFFE), to replace its open outcry trading floor. Following the success of the initial migrations of the Equity Options, Bond and Index Futures, STIR (Short Term Interest Rate Futures) and Financial Options, LIFFE became a fully electronic exchange in 2000, with the migration of its Commodity Products onto LIFFE CONNECT®.
LIFFE CONNECT has been customised for London's complex interest rate markets, for cash equity and stock futures markets, for Amsterdam's quote-driven retail options markets, and for US treasury markets. In each case NYSE Euronext has worked closely with the client exchange to understand their business imperatives to ensure a technology solution to drive business growth.
LIFFE CONNECT is currently in use in more than 8 exchanges worldwide, including LIFFE in London and the recently launched NYSE Liffe in the US.
Arca
NYSE Arca, previously known as ArcaEx, an abbreviation of Archipelago Exchange, is a securities exchange on which both stocks and options are traded. It is owned by NYSE Euronext, which merged (as NYSE Group) with Archipelago Holdings in a reverse merger in 2006. NYSE Arca is a fully electronic exchange for growth-oriented enterprises. Listed companies can grow on NYSE Arca and transfer seamlessly to the NYSE once they meet the requirements. The all-electronic NYSE Arca is also a leading listing and trading platform for exchange-traded funds (ETFs), offering the largest public ETF liquidity pool in the U.S.
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