Iress multi-market solution shows early promise
With Chi-X Australia launched yesterday as a competitor to the Australian Securities Exchange (ASX), the take-up of Iress Market Technology's multi-market solution has been a success, according to Iress managing director Andrew Walsh.
According to the software developer, of the 22 brokerage firms who connected to Chi-X, 19 are using the Iress Order System Plus (IOS+) as part of their solution to view consolidated market data from multiple trading venues.
"The way our market data is designed will automatically empower our end users accessing consolidated market data, without having to change the way they have worked," said Walsh.
"Based on what we have seen I am happy to call this a success."
Walsh said 95 per cent of the company's client base is now connected to the Iress Operating Network (ION) 10 gigabyte dark fibre network, which he said will be central in handling the significant amount of exchange traffic they are expecting to facilitate.
"Our clients have made significant efforts in readying themselves, and Iress has invested heavily over the past year in preparation," Walsh said.
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