Fri, 06/12/2013 - 14:12
The Budapest Stock Exchange has migrated its electronic securities trading to Deutsche Börse's Xetra trading system.
The Hungarian exchange is being linked to the Xetra network through the Vienna Stock Exchange, which has operated its own cash market with Xetra since 1999.
Now all four stock exchanges in the CEE Stock Exchange Group (Vienna, Prague, Ljubljana and Budapest) are operating with Xetra.
Trading participants can now use the Xetra infrastructure to gain easy access to the Hungarian financial market. Moreover, the market participants in Budapest now have access to a large pan-European trader network.
Martin Reck, who is responsible for the cash market at Deutsche Börse, says: “We have been working with the Vienna Stock Exchange as a sourcing partner for over 14 years now. We are delighted that this successful cooperation means the Budapest Stock Exchange can operate with Xetra technology and thus now the whole CEE Stock Exchange Group.”
“The CEESEG offers its market participants a state-of-the-art infrastructure and a customised service portfolio. In introducing the Xetra system, we strengthen not only the joint image of our partner exchanges but also bring expertise and uniform standards to the region's capital markets,” says Michael Buhl, member of the management board of CEESEG.
Besides the stock exchanges in Vienna, Prague, Ljubljana and Budapest, Xetra technology is also used by the Irish Stock Exchange, the Bulgarian Stock Exchange, the Malta Stock Exchange and the Cayman Islands Stock Exchange. In addition, Xetra was used as the basis for the Shanghai Stock Exchange's trading system migrated in 2008.
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