ASX expands access options as best ex looms

Global institutional investors now have easier access to Australian equities on the Australian Securities Exchange through two new technology initiatives.

Global institutional investors now have easier access to Australian equities on the Australian Securities Exchange (ASX) through two new technology initiatives.

Technology provider Fidessa is offering co-located software as a service solutions and access to Fidessa’s global connectivity network at ASX’s new data and co-location centre – the ASX Australian Liquidity Centre (ALC).

The ALC is a purpose-built data centre designed to provide the lowest latency access to ASX execution and information services possible. The ALC was created to allow ASX to significantly extend the availability of its hosting services to market participants.

By having its software as a service connectivity services located in the ALC, Fidessa is able to provide the local marketplace with access to its hosted trading platform solutions, as well as a route for international Fidessa customers to Australia.

“The high-quality software as a service technology and global network connectivity provided by Fidessa creates business opportunities and synergies for all members of the ALC community,” said David Raper, ASX general manager, trade execution and information services.

In addition, financial technology provider SunGard’s Valdi execution management system has passed vendor certification testing with ASX and is now operational.

The Valdi Market Access service provides access to both the ASX PureMatch trading platform and ASX TradeMatch order book. SunGard’s hosted customers are now able to send orders on ASX PureMatch via their existing managed connectivity services to ASX TradeMatch. SunGard will deliver the new connection services for the non-hosted customers.

“SunGard is helping market participants in Australia capitalise on the changes that will arise from the new multi-exchange environment,” said Scott Leader, managing director, Oceania region, SunGard Financial Systems. “This includes providing connectivity to two critical exchanges as well as solutions to help automate trading and route orders.”

Regulator, the Australian Securities and Investments Commission, has stated market participants must comply with best execution obligations by the end of October this year. Market participants will need to connect to alternative trading system Chi-X Australia and ASX to fulfil the obligation. Chi-X Australia launched on 31 October 2011.

«