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MICEX Migrates Derivatives Trading to New Platform

24.10.2011 11:58 / Interfax

MICEX Group has migrated its core derivatives trading and clearing to Intel platform under Red Hat Enterprise Linux Server 5.7 MRG operating system, says MICEX release.

"Migration to new platform will improve productivity and data processing capacity. The upgrade has not affected the trading and clearing system capacity", says the release.

MICEX Group markets are based on HP PA-Risk platform and HPUX operating system.

A full-scale testing of the new system took place on 17 September during a stress test with trading participants.

The testing of new versions of MICEX derivatives and stock market software showed a significant production from 0,85 thousand transactions per second to 13,00 thousand transactions per second for the derivatives market and from 4 thousand transactions per second to 20 thousand transactions per second for the stock market.

Testing showed a weak spot in the infrastructure – access time lag vs system core time. This occurred when trade participant generated an instructions history request during mass user errors. MICEX plans to exclude the instructions history request from the quotes request to prevent server overload, thus implementing anonymous quote requests.

Besides, the stock trading system will feature hyperactive automation as a user property, which is essentially a robot generating a massive volume of bidding and bid recall transactions per second. The actual amount of trades can be minimal for the bids placed.

Earlier, MICEX Vice President Anna Kuznetsova said hyperactive trading automats (GTAs) account for 89% bids, which is 26% of all MICEX stock trading. "Worldwide these figures are considerably higher, up to 80% stock exchanges’ volume. We have to be prepared to see their share growing", she said.

MICEX plans to include ‘no GTA’ and ‘no recalled bids’ options. "This will significantly decrease processing time for instructions history, if clients do not wish to receive all of it”, says the MICEX-RTS stress test report. This option is already active on the MICEX derivatives market.

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