Deutsche Boerse AG : Deutsche Boerse : Cayman Islands Exchange Uses Xetra Trading System

Deutsche Boerse AG (DB1.XE) Monday said the Cayman Islands Stock Exchange is now using the German exchange operator’s Xetra electronic trading system for its electronic securities trading.

MAIN FACTS:

-Xetra trading participants can now use Deutsche Boerse’s infrastructure to easily access a non-European financial market.

-Six new market participants from the Cayman Islands will get access to an extensive pan-European network of traders and highly liquid trading.

-Xetra technology is also used by other stock exchanges like the Vienna Stock Exchange, Irish Stock Exchange, Bulgarian Stock Exchange, Ljubljana Stock Exchange, Malta Stock Exchange and Prague Stock Exchange. Xetra was the basis for the Shanghai Stock Exchange’s own trading system migrated in 2008.

-Write to the Frankfurt Bureau at [email protected]

From Wikipedia:

Xetra (“Exchange Electronic Trading”) is a worldwide electronic securities trading system based in Frankfurt, Germany. It was created for the Frankfurt Stock Exchange and launched in November, 1997. It is operated by Deutsche Börse.

More than 14 stock exchanges around the world have licensed the Frankfurt Stock Exchange Xetra electronic trading platform. Xetra’s electronic trading technology has an outstanding record of high scalability, speed, reliability, quality of core technology and the ease with which it can be adapted in other markets.

The conception and the implementation of the Xetra System was carried out by Accenture and Deutsche Börse Systems, the technology division of Deutsche Börse. It is based on the Eurex system designed and built by Deutsche Börse Systems.

The Xetra system has been successfully implemented on the Irish Stock Exchange (operating as ISE Xetra), the Vienna Stock Exchange, the Bulgarian Stock Exchange, the European Energy Exchange, the Budapest Stock Exchange, and a number of other exchanges. It will also be installed on the Prague Stock Exchange and Shanghai Stock Exchange.

In September, 2011, disagreement over “the introduction of the Xetra” system was given as the reason for the resignation of Budapest exchange head Mihaly Patai. “Patai, who is also chairman-chief executive of the Hungarian arm of Italy-based UniCredit S.p.A. (UNG.MI) and chairman of the Hungarian Banking Association, has been in charge of the bourse since December, 2008,” according to the report.