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Equiduct Selects TIBCO to Power Pan-European MiFID Compliant Regulated Market
Nov 01, 2007 (08:11 AM EDT)
LONDON, Nov. 1 /PRNewswire-FirstCall/ -- TIBCO Software today announced that Equiduct, part of the newly expanded Borse Berlin Group has selected its messaging software as the foundation for their European Trading System (ETS). Equiduct, which will support the industry's first regulated pan-European market to meet all of the statutory commitments defined by the Markets in Financial Instruments Directive (MiFID), has fully standardised ETS on TIBCO Rendezvous(R) to more efficiently deliver market data and trade information in real-time between various components of its trading model.
On 1 November 2007, MiFID will significantly change how financial markets and investment services operate across all 27 member states of the European Economic Area (EEA). By leveraging a single access point approach, a new regulatory governing regime and TIBCO's proven technology to power its trading platform, Equiduct will offer investment firms across a compelling, low-cost trading alternative delivering best execution and transparency for price and trade distribution.
Equiduct's Chief Information Officer, Rob Brouwer, remarked: "Given the massive volume of time sensitive and confidential information that needs to be distributed and exchanged, TIBCO's low-latency messaging software was the optimal choice for meeting our demanding requirements for speed and efficiency. TIBCO's leadership and depth of expertise in the financial services industry coupled with its proven software will provide participants with the best possible MiFID compliant delivery model."
With more than a decade of production use, TIBCO Rendezvous has proven to be one of the most reliable software products for real-time, broad data distribution. It has been used in more than 2,000 customer implementations to maximise uptime and performance.
Murat Sonmez, TIBCO executive vice president of Global Field Operations, said: "Equiduct's decision to standardise on TIBCO reaffirms our continued ability to address higher transaction volumes created by increased fragmentation and overall growth in cross border trading. Moreover, TIBCO Rendezvous' ability to facilitate order negotiations and execute large volume transactions securely, anonymously and in real-time, is a crucial competitive factor for helping customers such as Equiduct capture new revenue streams and market penetration."
Equiduct will offer a MiFID compliant, integrated pan-European single point of connectivity for trading services through the regulated market operated by Borse Berlin. Equiduct's unique market model addresses the four key requirements of best execution, enabling guaranteed execution at the lowest cost and at the best price with less than 10 milliseconds turnaround time. Borse Berlin is the main shareholder of EASDAQ NV which operates under the trading name Equiduct.
For more information please visit http://www.equiduct.eu or contact Wendy Gyngell at email@example.com or +44 (0)20 3102 4085
TIBCO Software Inc. http://www.tibco.com provides enterprise software that helps companies achieve service-oriented architecture (SOA) and business process management (BPM) success. With over 3,000 customers, TIBCO has given leading organisations around the world better awareness and agility-what TIBCO calls The Power of Now(R). To learn more, contact TIBCO at +1 650-846-1000 or on the Web at .
TIBCO, The Power of Now, TIBCO Rendezvous, and TIBCO Software are trademarks or registered trademarks of TIBCO Software Inc. in the United States and/or other countries. All other product and company names and marks mentioned in this document are the property of their respective owners and are mentioned for identification purposes only.
CONTACT: Holly Burkhart of TIBCO Software, +1-650-846-8463, firstname.lastname@example.org; or Nick Spencer, +44 01628 502 606, ,for TIBCO Software
Web site: http://www.tibco.com/ http://www.equiduct.eu/