ULLINK Successfully Completes Xetra T7 Upgrade
Customers including Erste Bank now trading live across all XETR listed Equities products
FRANKFURT, 04 July, 2017– ULLINK, a global provider of electronic trading and connectivity solutions to the financial community, announced today the successful migration to the new Xetra T7 release 5.0 trading platform. The 3 July 2017 go-live date passed smoothly for all ULLINK customers, trading the full range of Xetra (XETR) listed Equities products.
The migration is a major step towards the goal of Deutsche Börse to harmonise their exchanges on the T7 platform, which is already used for the Eurex derivatives market. The T7 platform is an innovative trading system providing low latency, high throughput and greater flexibility for market participants. One of the key changes is harmonisation of external APIs used by participants to route electronic orders; T7 extensively utilises FIX as well as the ETI native API and drops support for the previous ETS and VALUES APIs. The Vienna Stock Exchange will also migrate to the new T7 platform 31 July, but other exchanges like Börse Frankfurt will remain on the Xetra “Classic” technology for the time being.
Speaking of the successful migration, Ferenc Deák, Head of Project Management Office at ULLINK customer Erste Bank, said, “The migration from the existing Xetra architecture to the new platform was a major undertaking, and we are very pleased that our technology partner, ULLINK, was able to complete development and certification in time for the initial go-live and with the full scope we require. ULLINK also hosts our Xetra market access gateway, and the process to update our managed platform was handled smoothly.”
ULLINK’s Chief Product Officer, Richard Bentley, added, “This year brings a significant increase in the number of exchange migrations, as European trading venues roll-out changes associated with MiFID 2 which comes into force 3 January 2018. We are seeing considerable interest from firms looking to outsource their market connectivity in response, and successful go-live of Xetra T7 plus our readiness for the Vienna Stock Exchange migration at the end of the month demonstrate our capabilities to keep our customers up to date with the many changes that are taking place.”
ULLINK provides more than 100 market access gateways for order routing and trade capture (drop copies) across multiple asset classes. ULLINK market access gateways can be enterprise-deployed or hosted as part of a fully-managed connectivity service.
Mireille Adebiyi Marketing & Communication Director
Tel.: +33 (0)1 33 49 95 30 00 firstname.lastname@example.org