Commentary

John Turney
Traders Magazine Online News

Foreign Exchange Infrastructure: Yesterday, Today and Tomorrow

In this exclusive to Traders Magazine, John Turney, Global Head of Outsourced FX at Northern Trust, discusses the evolution of the fx infrastructure and what is to come.

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January 3, 2011

ISE Speeds Things Up

By Peter Chapman

As it is in equities, so shall it be in options. The race to zero latency being staged by the equities exchanges is now being staged by the options exchanges. The International Securities Exchange is the latest options exchange to announce a speedy new trading platform. Optimise, as it is called, will roll out in April, and reduce latency at ISE by 75 percent, ISE says. The exchange will not divulge numbers, but says Optimise will be "industry leading" when it comes to low latency. In that area, ISE will square off against several other exchanges which claim to be fast, including BATS Options, the Boston Options Exchange and the Chicago Board Options Exchange's C2. All three boast turnaround or response times of about one millisecond or less. Optimise will also increase throughput at ISE, allowing the exchange to process more data. ISE built Optimise in partnership with its parent Deutsche Borse, which plans to use Optimise as the underlying platform for all of its exchanges.

 

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