NYSE Technologies, the commercial technology unit of global exchange group NYSE Euronext, has partnered with Mexican market operator Grupo Bolsa to implement FIX connectivity gateways for two of its exchanges.
NYSE Technologies has implemented its Common Customer Gateway (CCG) for derivatives exchange Mercado Mexicano de Derivados (MexDer) and equity exchange Bolsa Mexicana de Valores (BMV), in order to offer the exchanges' clients a uniform entry point to both venues.
“We developed CCG to unlock efficiencies and streamline the process for customers placing orders across exchanges and asset classes” said Stanley Young, CEO of NYSE Technologies. “We are confident that clients trading on BMV and MexDer will immediately see the benefits of the CCG platform and having one consistent point of access for Grupo Bolsa's diverse exchange operations.”
According to NYSE Technologies, the implementation of CCG has resulted in a latency decrease of around 23% for BMV and 60% for MexDer.
Implementation of the CCG FIX platform precedes Grupo Bolsa's RINO project, which will eventually result in the installation of a new low-latency trading engine, with improved capacity and functionality.
“Obtaining the benefits of implementing CCG is an important milestone in our technology evolution plan and provides tangible benefits to our customers.
It makes our markets more attractive and lowers the barriers of entry for overseas market participants,” said Enrique Ibarra, adjunct general manager of the technology division of Grupo Bolsa.