Exchanges

OMX introduces new technologies to help exchanges in the race for scalability

Market access provider OMX yesterday announced the release of Genium, its new technologies for trading, post-trade and information services. Genium will be a driving force in OMX's exchange technology offerings and the development of the OMX Nordic Exchange.

Genium combines functionality, a modular construction and standardised access to enable fast business development, says the firm.

"The exchange industry is evolving fast," says Magnus Bocker, CEO, OMX. "Increased openness, competition, cross-border trading and changing trading models puts new demands on speed, availability and agility. Based on OMX's experience of operating the Nordic Exchange and powering more than 60 exchanges around the world, Genium has been designed to empower exchanges in the race for high capacity, low latency and scalability," he adds.

The Genium roadmap has been developed to provide both existing and new customers with competitive advantage, says the firm. Deliveries start with standardised access solutions for trading and market data based on the Financial Information eXchange (FIX) and FIX Adapted for Streaming (FAST) protocols. Using FAST helps reduce latency and improves conditions for the rapidly growing algorithmic trading sector.

The Nordic Exchange will be the first to implement Genium, starting this year with the provision of FIX access to equity market data followed next year by FIX access to equity and derivatives trading. Thereafter the Nordic Exchange plans to move cash and derivatives trading to a Genium-based solution, according to OMX. The implementation schedule for this will be decided following member consultations.

"The Nordic Exchange is an integral part of the development of Genium and our customers will be the first to take advantage of its new capabilities, including speed and trading efficiency," says Jukka Ruuska, president, OMX Nordic Exchange. "Genium will also bring new services to reinforce OMX Nordic Exchange's position as a driver in exchange innovation," adds Ruuska.