The Boston Options Exchange (BOX) has confirmed the implementation of the SOLA trading platform, a next generation trading solution created by the Montreal Exchange.
“We needed a technological overhaul because of our rapid growth, combined with what we expect to be dramatic changes in the US options industry in the next few years. BOX based its decision not only on system performance targets but also reliability, cost to operate, scalability and time-to-market factors. The SOLA proposal was very strong on each of these criteria,” said Will Easley, senior managing Director of BOX.
According to MX, the new system provides exceptional performance and capacity:
- Processing 200,000 price updates per second per processing units; and
- Handling 100,000 orders per second per processing unit; and delivering an average response time of less than 20 milliseconds.
“The SOLA trading solution was implemented at the Montreal Exchange in October 2005”, said Philippe Loumeau, senior executive vp and COO of the MX. “The implementation process was seamless. We know from experience that the new system has significantly reduced the total cost of operations in both our futures and equity options markets.”
MX holds a 31.4% interest in BOX.