NYSE Euronext debuts Universal Trading Platform

12 December 2008

Stock exchange group NYSE Euronext (NYX) has debuted its Universal Trading Platform (UTP) for bond products traded on European markets.

In a statement, the company said it has successfully migrated 2,889 fixed-income instruments from the Nouveau Systeme de Cotation (NSE) platform to the UTP. Around 120 NYX customers were involved in the move.

NYX said the new platform uses "state-of-the-art technology" to improve latency times and trading capacity. UTP offers a 150-400 microsecond round-trip for transactions compared to NSC's end-to-end time of 1.5 milliseconds.

This should treble capacity, allowing the UTP to handle approximately 30,000 orders a second.

Following on from the European bond migration, NYX now plans to roll-out the UTP to the rest of its European and American markets.

Commenting on the platform's debut, the company's executive director and head of the UTP program Anthony Attia said: "This important first step will facilitate the migration of European cash equities and ETFs onto the Universal Trading Platform, planned for early 2009."

NYX's group of exchanges include the New York Stock Exchange, NYSE Arca and NYSE Alternext US, formerly the American Stock Exchange.

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