Qatar Exchange has successfully went live with advanced trading system UTP, which brings the exchange on par with NYSE Euronext.
Qatar Exchange said that now it has an important piece of the infrastructure to work towards expanding the capabilities of the market with new products such as bonds and other diversified exchange traded instruments.
The launch of UTP for the Qatar Exchange is the first launch of the NYSE Euronext cash trading application suite outside its own core markets.
In terms of benefits for market participants, UTP offers extremely low latency (less than one millisecond). It also uses internationally recognized protocols for order routing, thereby providing seamless integration with participants across the globe.
As part of this initiative, Qatar Exchange has also commissioned a Disaster Recovery back-up data center in partnership with Qatar Telecom. This secondary data center is now active with UTP installed and brokers are being systematically connected.
Qatar Exchange CEO Andre Went said that the implementation of UTP marks a significant positive step towards the promotion of trust in the market and increasing the efficiency of the services provided to investors and providing a trading platform for new products and investment instruments to be launched by Qatar Exchange.
“Both issuers and investors alike will benefit from the speed, efficiency and reliability of NYSE Euronext’s world class technology, together with greater market transparency resulting from the introduction of a closing auction,” Went said.