The Osaka Securities Exchange (OSE) has launched a new low-latency derivatives trading system using technology provided by exchange group Nasdaq OMX.
The new system, called J-GATE, was developed with assistance from Japanese IT company NTT Data and has been specifically designed to allow the introduction of market rules and functions employed by major overseas exchanges.
J-GATE will have an average order latency of five milliseconds, compared to 100 milliseconds previously and will have the capacity to process 12,000 orders per second, a marked improvement on the 800 orders per second before the upgrade.
Members will be able to connect to the platform using co-location, proximity hosting or a ”premium direct' connection, which will supply users with low-latency market data from the OSE's data centre.
“Through the utilisation of the world’s highest-level processing capabilities and the global standard trading functions of J-GATE, OSE continues to further enhance the competitiveness of its market, which we hope leads to strengthening competitiveness of the Japanese market,” said Michio Yoneda, president and CEO of the OSE.