Nasdaq OMX Group announced that eSpeed, the exchange group’s over-the-counter platform for electronic trading in benchmark U.S. Treasuries, successfully completed performance engineering enhancements and the migration to the Nasdaq OMX Data Center.
According to company claims, “the updated platform and data center environment will provide clients with improved cost efficiencies, trading opportunities across multiple asset classes, and access to services for market participants.”
“With the help and support of our customers, we have focused our efforts on leveraging the strength of Nasdaq OMX’s technology expertise to deliver a stronger and more robust platform,” said Joe Noviello, head of Nasdaq OMX eSpeed. “We will continue to evolve in our performance and functionality while we consider customer demand for electronic trading in products that are immediately adjacent to benchmark Treasuries.”
eSpeed said that clients will notice a 25 percent round-trip order-entry response-time improvement. This, when combined with a 100 microsecond improvement in market-data distribution, will provide customers with a greatly improved fixed-income trading experience.
Other improvements include a more cost-efficient access to global trading opportunities across multiple asset classes and available through a common Nasdaq OMX data center ecosystem. In the new data center environment, customers may use access services offerings like wireless connectivity to Chicago. eSpeed recently expanded its distribution in partnership with front-end software and market data providers, further supporting customer demand for deeper liquidity in the fixed income marketplace.
“The eSpeed platform enhancement and migration is an important step in the exchange group’s efforts to better serve the fixed income, currencies and commodities community,” said Hans-Ole Jochumsen, president of Global Trading & Market Services. “We will continue to expand our global fixed income footprint by leveraging our strategic assets and our established trading and clearing platforms.”
As part of the exchange group’s recently formed Global Trading & Market Services business, the eSpeed platform can help customers navigate the benchmark U.S. Treasuries market with services for the full life-cycle of global fixed income trading. It provides the financial services community with global fixed income offerings such as the NLX platform for European interest rate futures, strategic ownership of Nordic clearing houses and LCH.Clearnet Group, Limited, trading in Nordic corporate bonds and the exchange group’s U.S. derivatives marketplaces for listing fixed income products.
