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NYSE Technologies to build futures platform for Tokyo Stock Exchange

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NYSE Technologies, the commercial technology division of NYSE Euronext, has been selected by the Tokyo Stock Exchange to build and support a new futures trading platform for the exchange.

Based on the Tdex+ platform already trading options on the TSE since October 2009, this futures trading engine will offer best-in-class latency.

Atsushi Saito, president and chief executive of the Tokyo Stock Exchange Group, says: "The Japanese futures trading market contains significant growth potential. We believe promoting this market will bring forth a great investment opportunity for not only the Japanese investor, but investors worldwide. We have chosen NYSE Euronext as a valued partner in developing this market as its technical and operational expertise in financial markets in Europe and the US is of indispensable value to us.”

“This agreement builds on our partnership with the TSE, and we are very proud to be playing a role in this important initiative,” adds Dominique Cerutti, president and deputy chief executive of NYSE Euronext. “Together, we will provide a superior platform that serves the interests of customers, addresses the increasing demands for speed and capacity, and ensures that TSE is at the cutting edge of innovation.”

As part of an ongoing relationship between TSE and NYSE Technologies, the TSE, which has already launched the Tdex+ platform for options trading, will begin migrating futures products to this low latency and high-performance platform in autumn 2011.

NYSE Technologies is building this new Tdex+ based futures system using its Liffe Connect platform with several customised features. The new platform will provide the Asian futures market with lower latency, improved liquidity via the introduction of market making facilities, the introduction of inter commodity spreads and closed auction facilities.

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