PARIS (Thomson Financial) - Plus Markets PLC, the London-based quote-driven exchange, is working on enhancements to its X-Stream trading platform just six months after its launch, Nemone Wynn-Evans, the company's head of business development, told Electronic Trading monthly.
The enhancements to the platform, supplied by Nasdaq OMX Group Inc unit OMX Technology AB, will be aimed at generating additional volumes and potentially expanding the offering to non-equity securities, Wynn-Evans said.
'It's in its virgin state if you like,' she told Electronic Trading, a specialist title from publishing and IT consultancy group A-Team.
'We've not done anything to the platform since last November to coincide with the MiFID deadline, but already we're working on our next technology enhancement project, which we expect to be launching later this year.'
The X-Stream platform, which Plus claims has proven 100 percent reliable since being deployed, has already helped drive significant volume increases on the 'market-maker' model across both FTSE 100 stocks and mid/small caps, the company told A-Team Group's Roger Aitken.
Without giving details of the plans, Wynn-Evans said the exchange will be 'making a number of minor enhancements, which should help in efforts to capture market share - not just at the upper end - but particularly at the smaller end as well.'
Some eighty AIM stocks traded on the London Stock Exchange are also traded on Plus. However, there is room for much more activity in large caps as well as mid/small cap securities, she said.
'Not only do we have the capacity to trade all 1,700 AIM companies traded on the LSE on our markets tomorrow, we have them already all loaded up in our system ready to go,' Wynn-Evans told Aitken, Electronic Trading's Assistant Editor in London.
Andrew Newby; Andrew.Newby@thomsonreuters.com an/jlc COPYRIGHT Copyright Thomson Financial News Limited 2008. All rights reserved. The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.
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