TMX Group today announced that Borsa Italiana’s derivatives market, IDEM has successfully migrated to the TMX SOLA trading system, which was developed by Montréal Exchange, TMX Group’s derivatives exchange. All listed equity derivatives on IDEM are now being traded on the new platform.
Brenda Hoffman, Chief Information Officer and Group Head of Information Technology for TMX Group said: “We are extremely pleased that IDEM has successfully migrated to SOLA and can now offer its customers enhanced speed and efficiency.”
The SOLA technology combines attributes such as enhanced performance and capacity as well as highly valuable functionality that will provide opportunities for the development of new products to serve the local marketplace. In this implementation, SOLA has an average latency of less than 1 millisecond and can process more than 200,000 quotes per second.
Alain Miquelon, President and CEO of Montréal Exchange added: “This migration demonstrates the successful partnership TMX Group has put in place with the London Stock Exchange Group. SOLA technology is now being used in markets across Europe, including EDX London, which trades Scandinavian and Russian derivatives products, and Oslo Bors.”