Trayport’s exchange trading system gives Sibex an exchange matching engine that supports further development of its futures and options market in Romania. Sibex is also planning to launch contract for difference (CFD) market during 2010 using Trayport’s exchange trading system.
Since entering the agreement with Trayport, Sibex has introduced its own web based front end trading platform and clearing system connecting to the Trayport exchange trading system using Trayport’s Risk API.
Darius Cipariu, deputy MD of Sibex, said: “Sibex chose to use Trayport’s exchange trading system to support our requirement for a fast reliable system that can handle large trading volumes. We had built our own platform and, although we kept upgrading, we found that as our exchange grew the system was becoming too limited.
“Trayport provides a platform that comfortably supports our requirement for 5000 or more trades per day and will also enable us to establish new markets very quickly. This is vital to Sibex.”
Adrienne Muir, head of Trayport Exchange Systems, said: “The go-live of our exchange platform in Romania demonstrates the significance and growth of Eastern European exchange markets. The integration work that Sibex has completed has been well designed and will allow it to expand its business and market significantly into other asset classes including FX, indexed futures and CFDs.”
