Australian Securities Exchange moving up to OM’s Click XT
The Australian Securities Exchange (ASX) has signed a 10-year agreement to use OM Technology’s Click XT as the integrated trading platform for its equity, derivatives and fixed-income products, reports RiskNews' sister publication, Dealing With Technology .
The announcement follows ASX’s 'suitability study' conducted last year, which involved investigations of what changes will need to be made to OM’s Click XT system to meet ASX’s equities trading requirements (Trading Technology Week, Nov. 3, 2003).
The project will see the migration of ASX’s equity, warrants and fixed-interest products from its existing proprietary trading system, Stock Exchange Automated Trading System (Seats), on to Click XT. The total cost of implementing the system is estimated at A$10 million ($7.1 million), which will be spread over three years, according to an ASX spokesperson.
Click XT is the next generation of Click, which the Australian exchange has been using for its derivatives market since 1997 for the equity options, index options, index futures and commodity futures currently traded on the system.
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