TRADING VENUES

ASX automates futures and options contracts

ASX deploys GoldenSource’s technology to automate 20,000 futures and options contracts.

By Hayley McDowell hayley.mcdowell@strategic-i.com March 08, 2017 9:51 AM GMT

The Australian Securities Exchange (ASX) is automating the creation and rollovers of 20,000 futures and options contracts annually through the use of GoldenSource’s technology.

The contracts will be created and published on intra-day, weekly, monthly and quarterly cycles depending on asset classes.

All of ASX’s new equities and futures listings will now be automatically published to multiple operational and test systems, removing manual maintenance by four operations teams.

ASX explained the move is part of its futures contract maintenance automation project, which aims to make it easier to manage complex derivatives contracts.

“During a recent production run, more than 3,300 records were automatically listed over three separate environments. Previously this would have involved manual triple keying into different systems, so this is a significant efficiency gain,” ASX said.

GoldenSource’s technology has been used by the exchange since 2012. Neill Vanlint, managing director of EMEA at GoldenSource said the increasing automation is “key to solving the maintenance overhead issues the majority of exchange’s face today.”