Deutsche Borse Systems and OMX have formed a technology partnership which will see the companies connect their global communication networks in order to increase efficiency for both groups and market participants.
As leading providers of exchange technology, Deutsche Börse and OMX said they would be seeking to develop technology that would help to increase cooperation with market participants, enhance market efficiency improve industry best-practice. In addition the two parties will be cooperating on developing their network resources
The companies also announced that they were seeking a ‘harmonized exchanged standard’ to use the Financial Information eXchange (FIX) Protocol.
FIX is a technical specification for order and trade management messages. Deutsche Borse Systems uses the FIX protocol, in addition to its proprietary interface, to facilitate access to trading platforms and information services. OMX is considering FIX for its existing and future trading and information dissemination systems. The companies will now be looking at ways to promote the protocol as a common standard across exchanges.