Qatar - The Qatar Stock Exchange (QSE) will migrate to new trading system, Millennium, from June 8; enabling derivatives trading in the future and the advent of new products for investors.

The new trading system is the offshoot of an agreement signed by the QSE with the LSEG (London Stock Exchange) in 2022. The new QSE solution will be based upon the LSEG’s financial markets product suite, a robust, scalable, and high-performance technology offering, which includes trading, market data, data analytics, and market surveillance.

"Members, data vendors are required to switch their production trading, post trade and all peripheral systems (web service, equator terminals, Oracle webforms) to align with the new trading system (Millennium)," a QSE communique said.

All open orders will be cancelled by the QSE after the end of trading on June 7, 2023. Any open orders remaining in broker systems will have to be manually deleted by the brokers.

Brokers' systems are required to be connected to the new trading system (including IP address, ports, usernames, and passwords).

The bourse requested brokers to retain UTP Trading System configuration details in the case of a system rollback.

Broker firms are requested to send a confirmation e-mail to the QSE upon successful connection to the new trading and all related systems (prior to the opening auction call).

The current trading timetable will be maintained without any change, the QSE spokesman said, adding it is the brokers’ responsibility to re-enter the cancelled orders.

The new trading system enables QSE to have a proven technology solution, offering high performance, low latency matching and a powerful market surveillance solution including market data visualisation and analytics.

LSEG’s financial markets technology products are used by over 25 financial markets infrastructure operators across the globe, including Johannesburg Stock Exchange, Singapore Exchange and LSEG.

 

 

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