TIBCO Software today announced that Equiduct, part of the newly expanded Börse Berlin Group has selected its messaging software as the foundation for their European Trading System (ETS). Equiduct, which will support the industry’s first regulated pan-European market to meet all of the statutory commitments defined by the Markets in Financial Instruments Directive (MiFID), has fully standardised ETS on TIBCO Rendezvous® to more efficiently deliver market data and trade information in real-time between various components of its trading model.
On 1 November 2007, MiFID will significantly change how financial markets and investment services operate across all 27 member states of the European Economic Area (EEA). By leveraging a single access point approach, a new regulatory governing regime and TIBCO’s proven technology to power its trading platform, Equiduct will offer investment firms across a compelling, low-cost trading alternative delivering best execution and transparency for price and trade distribution.
Equiduct’s Chief Information Officer, Rob Brouwer, remarked: “Given the massive volume of time sensitive and confidential information that needs to be distributed and exchanged, TIBCO’s low-latency messaging software was the optimal choice for meeting our demanding requirements for speed and efficiency. TIBCO’s leadership and depth of expertise in the financial services industry coupled with its proven software will provide participants with the best possible MiFID compliant delivery model.”
With more than a decade of production use, TIBCO Rendezvous has proven to be one of the most reliable software products for real-time, broad data distribution. It has been used in more than 2,000 customer implementations to maximise uptime and performance.
Murat Sonmez, TIBCO executive vice p resident of Global Field Operations, said: “Equiduct’s decision to standardise on TIBCO reaffirms our continued ability to address higher transaction volumes created by increased fragmentation and overall growth in cross border trading. Moreover, TIBCO Rendezvous’ ability to facilitate order negotiations and execute large volume transactions securely, anonymously and in real-time, is a crucial competitive factor for helping customers such as Equiduct capture new revenue streams and market penetration.”