Spanish stock exchange group Bolsas y Mercados Españoles (BME) has tripled its electronic trading system’s capacity. In 2006 its SIBE platform handled over 200 million transactions.
The SIBE electronic system aims to guarantee that any investor, whether they are from Spain or elsewhere, receives the best price on the market at any time and the maximum liquidity and speed in the execution of their orders.
BME says the capacity improvements will help consolidate BME’s position, and raise the average response time to that of leading world stock exchanges.
SIBE, which was created in April 1989, was the first system in the world to link four stock exchanges and integrate them into a single stock market platform. The system supported equity turnover exceeding €1 trillion in 2006.
“Currently, 90% of the orders are processed automatically,” says Jorge Yzaguirre, BME’s Equities Manager. “This is why we have equipped SIBE with the necessary means to improve its IT capacity and response time and thus enable it to reduce transaction times and cope with the increasing market activity. The system upgrade has allowed us not only to improve its trading capacity but also to oversize it to take in any future market demands.”
BME says users have not experienced any disruptions during the system upgrade.
The SIBE technology is also used by a number of exchanges in Latin America.