After an extensive global selection process, the Mercado a Término de Buenos Aires (MATba) has selected Patsystems as its key technology provider as it prepares to add electronic trading capability to its existing open outcry operations.
Based in Buenos Aires, MATba is a futures and options commodity exchange specializing in wheat, corn and soy. While the exchange has experienced steady demand over the past few years, MATba acknowledges that they could experience increased volume with an electronic offering.
Patsystems will provide MATba with a complete exchange system that includes straight through processing and matching supported by the Patsystems Matching Engine. The Patsystems Matching Engine is readily scalable and can fully accommodate the anticipated future growth of MATba.
MATba will also utilize Patsystems pre-trade risk management module and front-end trading application, J-Trader. Patsystems' J-Trader is a user-friendly, feature-rich application that can be easily deployed to MATba participants over the Internet, WAN, LAN or leased lines. Ease of deployment was a key consideration for MATba as they aim to make their market more accessible to local and international participants.
Guillermo Desiervi, Chairman of MATba, said: "MATba selected Patsystems because they are a flexible and trustworthy partner that can provide everything we need from the front-end trading platform to the matching engine. We know that technology will play an important role in MATba's future growth and we look forward to having Patsystems as our technology partner."
Sean Barry, Managing Director of Patsystems Americas, said: "Patsystems is honored to have been selected as MATba's technology partner for this important initiative in the exchange's lifecycle. We believe that our scalable technology is ideal for MATba as they look to expand and open up their market. We also believe that Patsystems is the ideal technology partner with our ability to provide a complete turnkey solution for exchange."