BSE has again chosen Deutsche Boerse as a new trading platform supplier. The Bulgarian Stock Exchange has chosen the Deutsche Boerse Xetra T7 platform to take over the new trading infrastructure from the stock exchange after analyzing three alternative benchmark offers offering similar functions, said the Exchange operator.
The current contract between BSE and Deutsche Boerse to operate the Xetra Classic electronic trading platform expires at the end of this year. The study of regulated markets and the multilateral trading system organized by BSE began in the second quarter of 2018.
The Xetra T7 platform was chosen because of the lowest operating costs and small functional differences in relation to Xetra Classic, which will allow for a smoother migration process, BSE said. The Deutsche Boerse agreement for the operation of Xetra T7 is for an initial period of 7 years from the time of migration in the second half of June 2019, with specific dates announced further.
Following the signing of the agreement with Deutsche Boerse, BSE expects to increase the average annual external service costs by an average of around 19% over the term of the contract as a result of increased costs of running the trading platform. The expected increase in average depreciation costs as a result of Xetra T7 as an intangible asset is 104%.
Xetra is a pan-European electronic system designed for spot stock trading and a number of other tools, including. (ETF), ETC, mutual funds, bonds, warrants, certificates and rights, inform investors. Bg.
Xetra is one of the most powerful and identical platforms with the electronization and internationalization of securities trading. The Vienna Stock Exchange has been using Xetra since November 1999 and the Irish Stock Exchange since June 2000. In addition, trading on the Eurex Bonds and the Eurex Repo market and trading on the European Energy Exchange in Leipzig are fully based on Deutsche Technologies Boerse. The Shanghai Stock Exchange, the largest in China, also intends to use Xetra technology as a key element for its future trading system.