Moscow Exchange Group and EPAM Systems (NYSE: EPAM) have
jointly finalized FIX/FAST solutions launched year ago on
the Exchange. The updated services have been designed
to provide Exchange's clients with market data and be
used in electronic trading on the securities and FX
markets. The main feature of the services is their
tolerance to the number of clients served.
Summarizing the first year of the tools' operation
Grigory Baytsur, Head of FIX/FAST Project at Moscow
Exchange, said: "The FIX/FAST tools have been in high
demand among our clients. In fact, they represent standard
and most rapid sources of market data of the Moscow
Exchange's trading and clearing system. Their quality
and reliability remain high notwithstanding the number of
companies employing them and running client applications.
Such reliability of services is becoming one of the key
priorities for all the top trading venues".
At the moment nearly half of the securities market orders
are submitted using the FIX protocol while share of trades
executed using the service reaches 20% of the main trading
mode's trading volume. The FAST UDP Multicast
Marketdata tool has proved to be the most efficient market
data source, i.e. about half of orders on the FX and
securities markets are announced based on information
provided by this service. Trading members are moving
gradually to such off-the-shelf solutions.
Olga Krusanova, OTKRITIE Group:
"OTKRITIE Group was one of the first companies that
started to use the FIX/FAST tools actively. Being a
worldwide standard the FIX/FAST protocol simplifies and
optimizes connection to the markets thereby broadening
trading opportunities. This aspect is especially important
for those who have already traded on global stock markets.
During this year Moscow Exchange's team has actively
optimized the FIX/FAST solutions that allowed increasing
velocity of transactions processing and improving the
The introduction of developments and improvements in the
tools have resulted in a 30% latency reduction for orders
submitted in the trading system and a threefold latency
reduction for requests to cancel orders. Period for
indirect orders and trades to appear in the order book has
been reduced from 800 to 500 microseconds and FAST UDP
Multicast additional functions prepared already for
introduction will allow the reduction to 200 microseconds.
Artak Oganesyan, Deputy Director for Business
Development at EPAM Systems:
"Each IT project of Moscow Exchange aims at improving
quality of its services, enhancing reliability and
availability of its infrastructure. We are delighted
to contribute to this process that becomes more important
as technological tools are being
Usability of the FIX/FAST tools has been improved due to
transferring servers used for the tools' support to the
public address space. Such improvement facilitates
much more simple connection of clients via global networks
for financial information exchange. In addition, the
FIX/FAST tools are backed with failover clusters with
opportunity for a hot (FIX) and warm (FAST) backup.
It is expected that main parameters of interaction with the
Exchange's trading system via the FIX/FAST protocol
will be improved by more than 20% after the infrastructure
of the ASTS trading and clearing system's core is
transferred to the 10 Gbit network.
Within the framework of a load testing scheduled for
September 8, 2012 all trading members will be able to test
in production their systems functioning based on the
Moscow Exchange's plans include further development of
the FIX/FAST tools functions and parameters. To connect and
test the tools, receive information on conditions of use,
please send a request at firstname.lastname@example.org
About Moscow Exchange
Moscow Exchange was set up on the 19th of
December, 2011, as a result of merger of the two major
Russian exchanges, MICEX and RTS.
The Exchange provides Russian and international
investors, professional participants of the financial
market and their clients with a wide range of opportunities
to trade shares, bonds, currencies and derivatives
Moscow Exchange and CJSC MICEX Stock Exchange act as
organizers of trading in the Group. National Settlement
Depository, CJSC Depository Clearing Company (DCC) and RTS
Settlement Chamber provide settlement and depository
services. RTS Clearing Center and National Clearing Center
are responsible for clearing.
About EPAM Systems
Established in 1993, EPAM Systems, Inc. is a leading
global software engineering and IT consulting provider with
delivery centers throughout Central and Eastern Europe.
Over 7,700 company's professionals implement
projects in more than 30 countries. The company's
subsidiaries located in Russia, Ukraine, Belarus,
Kazakhstan, North America, Hungary, Poland, UK, Germany,
Switzerland, and Sweden.
About OTKRITIE Group
Otkritie Financial Corporation was established in
1995. The company is now one of Russia's
leading financial institutions, with core activities
including investment and commercial banking, as well as
brokerage, asset management and insurance
Otkritie Financial Corporation includes the following
entities: Otkritie Bank, Otkritie Brokerage house,
Otkritie Capital Investment Bank, Otkritie Asset
Management Company, Otkritie Insurance Company and Otkritie
Otkritie Financial Corporation has a wide
representative network across Russia: over 240 offices in
82 cities. Otkritie FC has also offices in London,
New-York, Limassol and Kiev.
For further information, please contact the Public
Relations Department at (495) 363-3232.