ASX Replaces Trading System with Cinnober TRADExpress
ASX hopes to reduce cost and time to market with the platform.
The Australian Securities Exchange (ASX) is to replace its current equities and derivatives trading system with Cinnober's TRADExpress.
ASX will be able to deploy a flexible and scalable platform across its full suite of services that includes listing, trading, clearing and settlement, to reduce cost of operation and time to market for new products and services.
"Consolidating ASX's current trading technologies onto a common platform architecture will drive efficiencies and positive synergies for both our customers and the exchange," says Tim Thurman, chief information officer of ASX. "This solution will give ASX greater flexibility and allow us to add functions and services faster. We look forward to building a strong partnership with Cinnober."
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