Chilean alternative venue Bolsa Electrónica de Chile (BEC) today upgraded its exchange infrastructure to Nasdaq OMX’s X-stream platform.
The upgrade will increase the bourse’s throughput capacity and improve latency speeds. BEC and its members will use the FIX Protocol to connect to the new system.
Nasdaq OMX will also help the BEC to cross-list shares, develop new indices and expand existing indices. The venue operator is also completing a case study for BEC to create peso-dollar futures for trading on Nasdaq OMX exchanges.
“Today marks a significant event in BEC’s history. Launching Nasdaq OMX’s world renowned trading technology will not only open doors to new investors who wish to enter the Chilean marketplace, it also signals our dedication to long-term growth and our strategic vision,” said Fernando Cañas, president of BEC's board of directors.
“We could not have chosen a better technology and advisory services provider to partner with,” Cañas said.
BEC was created in 1989 and claims to be the first Latin American exchange to use fully electronic systems to execute its trades. BEC has 41 shareholders and 26 broker-dealers using its systems.