Chilean Stock Exchange to adopt low-latency IBM trading platform

The Chilean Stock Exchange aims to benefit from faster transactions and better communication with other exchanges worldwide after signing a deal with IBM, the US technology and consulting firm, for a new securities trading platform.
By None

The Chilean Stock Exchange aims to benefit from faster transactions and better communication with other exchanges worldwide after signing a deal with IBM, the US technology and consulting firm, for a new securities trading platform.

Jose Antonio Martinez, general manager of Santiago Stock Exchange, said, “The new technology will provide direct access to the market, with the connections system routing and handling orders and programmes and connecting customers with traders.”

The new platform is a central part of the exchange’s modernisation programme to become an important regional player in South America, leveraging its strategic alliance with the Mexican Stock Exchange, which is set to start in 2009.

"This agreement means a major breakthrough in the quality of service delivered to the exchange, allowing it to compete as the financial markets become ever more high velocity, low latency and high transparency in nature. It will also enhance the exchange's flexibility, scalability and security," said Luis Siles, general manager of IBM Chile.

The platform is based on IBM WebSphere MQ Low Latency Messaging technology and will allow the exchange to increase its capacity to more than 3,000 orders per second, 100 times greater than at present.

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