SWX, Virt-X Relent on Mandatory Upgrade
EXCHANGE TECHNOLOGIES
LONDON--Software vendors and exchange members are claiming victory after the SWX Swiss Exchange and its London subsidiary Virt-X retreated from a controversial requirement that would compel vendors and members to use a software upgrade for the trading platform shared by the exchanges.
SWX and Virt-X, which are changing their exchange-trading system to support central counterparty (CCP) clearing on May 5, have decided that members will not be forced to implement a last-minute upgrade. Industry
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