Borsa Italiana’s derivatives market, IDEM, has become the latest London Stock Exchange Group (LSEG) venue to migrate to the TMX SOLA trading system, which was developed by Montréal Exchange, TMX Group’s derivatives exchange. All listed equity derivatives on IDEM are now being traded on the new platform.
Brenda Hoffman, chief information officer and group head of information technology for Canadian exchange operator TMX Group said, “We are extremely pleased that IDEM has successfully migrated to SOLA and can now offer its customers enhanced speed and efficiency.”
The SOLA technology offers increased performance and capacity for the exchange,
In this implementation, SOLA has an average latency of less than one millisecond and can process more than 200,000 quotes per second.
Alain Miquelon, president and CEO of Montréal Exchange added: “This migration demonstrates the successful partnership TMX Group has put in place with the LSEG. SOLA technology is now being used in markets across Europe, including EDX London, which trades Scandinavian and Russian derivatives products, and Oslo Børs.”
EDX migrated to the SOLA platform on 7 December 2009 under a deal originally announced on 11 March 2009.