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Trading Systems


  • Block Trading for the
    Paris Stock Exchange (SBF)

    Customized the Nasdaq Automated Confirmation Transaction (ACT) stock exchange system for use by the Societe des Bourses Francaises (SBF) as a new block trading system of the Paris Stock Exchange.
    Provided on-site technical training in Paris, France.







  • Bulletin Board Exchange (BBX)
    Automated Trading Platform

    Developed Business Specifications detailing the rules and procedures for the automated trading of bulletin board stocks
    Evaluated the Super Montage system design and architecture as a trading platform.



  • Mexican Futures and Options Exchange

    Technical consultation on conversion and enhancement of French (MONEP) Futures and Options Exchange System for use by the Mexican Stock Exchange (Bolsa Mexicana de Valores).
    Worked with analysis team in Paris, France to capture and synopsize existing architecture. Developed and presented code and interface analysis to client in Mexico City, Mexico.


  • Pacific Options Exchange (PCX)

    Provided development services for PCX industry initiatives including decimalization and support for multi-listed issues.
    Designed a Price Improvement Reporting System for multi-listed issues.
    Managed member firm interfaces and handheld-device related system upgrades.
    Consulted on the PCX Plus project, an intiative to provide a web-based trading application supporting a newly-approved market structure for domestic options trading.







  • Complex Equity Options Strategy Market

    Designed an Options ticker plant and “Instrument Service” with hybrid (peer-to-peer, pub-sub, etc) broadcast, snapshot, and watch list capabilities; developed bindings for C/C++ and Java clients, integrating with Activ’s ticker plant architecture and options feed.
    Developed middleware applications for republication of Streaming Options and Equity Quotes and Trades.
    Designed proprietary XML protocol for middleware message interchange to and from FIX and vendor-proprietary formats.

  • Romanian Stock Exchange

    Customized a Nasdaq stock exchange application for use by the Romanian Association of Securities Dealers Automated Quotation System (RASDAQ) as a Mass Privatization Share trading system.
    Developed an equity auction system for the Romanian State Auction Fund. This trading ystem was installed as a functional extension to the Nasdaq PORTAL stock exchange trading system for the Romanian Association of Securities Dealers Automated Quotation System (RASDAQ).
  • Riga Stock Exchange and
    Central Depository

    We performed an on-site Technical Review of the Riga Stock Exchange (Rigas Fondu Birza) and Latvian Central Depository (Latvijas Centralais Depozitarijs) on behalf of the World Bank, on a IMF-sponsored Project in Riga.



  • Ukrainian OTC Market

    Developed an equity registration facility for the Ukrainian OTC market.
    Through consultation with remote members we provided functional and technical specifications.
    We launched the pilot implementation on-site in Kyiv, Ukraine.