German stock exchange Deutsche Borse has announced the launch of an Xetra Release 16 trading system to enhance the execution of large volume orders.
The new system has been designed to be compliant with forthcoming MiFID II regulations and will offer improved hardware functions designed to improve overall performance and reduce latency.
In addition, the system has received a waiver from the European Securities and Markets as well as the Hessian stock exchange regulator meaning it will not be subject to usual volume cap restrictions as well as providing a solution for large order trading on Xetra.
“With the new Xetra Release we are supporting our customers from an early stage concerning the implementation of regulatory requirements resulting from the EU Markets in Financial Instruments Directive, MiFID II,” said Martin Reck, managing director cash market at Deutsche Borse.
“We are furthermore increasing the attractiveness of on-exchange trading compared to OTC trading through new features such as the Volume Discovery Order.”