Qatar Stock Exchange deploys trading platform powered by LSEG

Qatar Stock Exchange (QSE) has launched a new and high-performing trading platform developed and by London Stock Exchange Group (LSEG).

The electronic trading platform goes by the name of Millennium Exchange and is utilized by more than 25 exchanges and financial markets worldwide, including Johannesburg Stock Exchange, Singapore Exchange, London Stock Exchange, Argentina’s BYMA, Borsa Italiana, Oslo Stock Exchange, Peru’s BVL, and even Hong Kong-based digital asset market AAX.

A unified framework for trading, data, analytics, surveillance

LSEG’s technology covers trading services, market data, data analytics, and market surveillance solutions that operate on a unified framework, sharing the same technological infrastructure, data architecture, and software engineering methodology.

John Walker-Robertson, Global Head of Cross-Asset & Market Infrastructure, London Stock Exchange Group, commented: “We are proud to collaborate with the Qatar Stock Exchange to successfully implement our state-of-the-art and innovative trading infrastructure. The new infrastructure leverages industry-standard FIX messaging and offers a wide range of features aligned to global best practices and standards.”

LSEG acquired MilleniumIT, a Sri Lankan-based company, for £18 million in September 2009. The Linux-based system completely replaced the legacy platform at LSEG, TradElect, in 2012. After more than 10 years, LSEG not only continues to utilize the system but it has also built a business of providing solutions for other exchanges across the globe.

QSE wants to assume prominent position among world’s advanced exchanges

Qatar Stock Exchange joined the roster of customers at a time of ambition in the State of Qatar, which aims to develop the Qatari financial market and achieve investment diversification. Abdulaziz Nasser Al-Emadi, the Acting CEO of Qatar Stock Exchange, described the move as a cornerstone in QSE’s development strategy to assume a prominent position among the world’s advanced exchanges, in line with Qatar’s ambitious economic plans.

“The Qatar Stock Exchange is working towards enhancing its liquidity by strengthening the maturity and development of our financial markets, thereby supporting Qatar’s strategy to diversify the national economy. This includes providing market participants and investors with a wide range of investment opportunities, enabling them to access new and diverse financial instruments to manage risks and capitalize on market movements, said QSE’s Al-Emadi.

Aisha Al-Mahmoud, Project Manager of the new trading system and QSE’s IT Director, said this milestone will enable the introduction of new products and services to a new segment of investors and potential participants in derivatives and equity markets.

QSE’s new multi-asset, multi-market, trading platform supports HFT

The newly launched trading platform offers a range of capabilities, including the provision of services to the derivatives market and facilitating Initial Public Offerings (IPOs). With these added functionalities, QSE is now able to offer a broader range of investment opportunities to its stakeholders.

The new trading platform is a multi-asset, multi-market, trading platform designed for resiliency, high performance, and ultra-low latency. The new trading solutions offer out-of-the-box trading solutions for equity, fixed-income, and derivative instruments on a single robust platform that meets standard trading requirements off-the-shelf, leading to reduced time-to-market and lower implementation risk.

It also supports market maker protection and monitoring combined with a highly deterministic latency profile to support high-frequency quoting.

The new platform uses industry standard FIX messaging and provides features such as real-time portfolio balance checks, new order types, multiple indices, surveillance alerts and market maker monitoring, as well as integrates with the Edaa and trading participants in the equities capital market.