Object Trading Connects to ASX’s New Trading Platform

The changes to the upgraded ASX 24 are focused on the trading technology, which the exchange says will transform the way participants connect to the system.

Dan Hubscher, director of strategy at Object Trading, tells WatersTechnology that there will be three major areas where users will see the new platform features. "The changes are all about how clients' systems connect," says Hubscher. "It's about a new communications protocol, a new format, new behavior of the matching engine."

The new platform will launch in early 2017, after an extensive testing period. The first test phase, in which Object Trading took part, ran from Aug. 1 to Sept. 9. During this period, the vendor's system conformed to the new ASX system.

Starting in October, the platform will open up for industry-wide testing, and end-users can participate to familiarize themselves with the changes.

"We've conformed and we know that our system works with theirs, so clients won't see any difference," says Hubscher. "But they still need to test with ASX, because they need to be sure that everybody will still be able to trade."

Some using Object Trading might have to undergo some changes. "They won't see any difference, but they may need some minor changes, such as exchange tags that remain exposed by the normalization," explains Hubscher. "For clients that use our software, we ship them the new version to install it. Clients of our managed service offering don't even need to install; we do that for them."