Source: Moscow Stock Exchange
Moscow Exchange has added new co-location IT services to its offering. Banks, brokerages, algo- and HFT-traders placing their hardware in MOEX’s data center can now use the new FIFO MFIX Trade service to connect to the Equity & Bond and FX Markets.
About 20 companies – large international and Russian HFT and algorithmic funds and traders – have already begun to use the service.
The new interface features the operation of a First In, First Out (FIFO) algorithm strictly applied to process orders at the exchange gateway with the more than 99% probability. This helps substantially improve transparency and predictability of MOEX’s IT infrastructure operations.
The move is in line with best global practice and meets the needs of clients using high-frequency trading strategies that respond to market events within a fraction of a microsecond.
The FIFO MFIX Trade protocol is the fastest way to place orders on Moscow Exchange’s Equity & Bond and FX Markets trading systems thanks to the Exchange’s updated software and hardware as well as the dedicated network infrastructure within MOEX’s co-location space, which serves only trading orders of market participants.
At present, high-frequency traders account for nearly 50% of MOEX’s total trading volumes in equities, derivatives and currencies.
More information is available on the Moscow Exchange website.