The engine was built jointly by ISE and Deutsche Börse,
the exchange’s owner. The system’s
core architecture will eventually be rolled out on Eurex and
Xetra, Rathi confirmed.
Rathi said the key benefits for customers would be reduced
latency and an improved trading experience. They would be able
to execute one-click intermarket sweep orders and improvements
would be made to the platform’s automatch
Meanwhile, Nasdaq is planning an upgrade of its secondary US
options platform, the Nasdaq Options Market.
Speaking at the same conference, Nasdaq’s
Charles Mack said the bourse was fundamentally realigning its
approach to options trading with the project, which he referred
to as Nasdaq Options Market 2.0.
All quotes on NOM will now be fully backwards-compatible
with the bourse’s main Nasdaq OMX PHLX platform,
offering consumers "two exchanges for the price of one", as he
put it. The interfaces of the two exchanges will now be "almost
exactly the same".
Mack said tightening price parameters was the
bourse’s top priority. "What do users want? No
dislocated prices," he said.
RiskPro functionality would also be enhanced, he added.
The NOM is improving support for flash orders, too. It went
live with its "price improving pixel" this week. The new
function allows users to seek best prices, and includes a "no
worse than" price seeking offering.