Wall Street & Technology is part of the Informa Tech Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

Exchanges

00:00 AM
Robert Sales
Robert Sales
News
Connect Directly
RSS
E-Mail
50%
50%

Irish Stock Exchange and Deutsche Borse Agree on Technology Partnership

The Irish Stock Exchange (ISE), in an effort to attract more foreign members and make its stocks more visible, has signed a letter of intent to trade all of its products on the Deutsche Borse’s (DB’s) Xetra trading platform.

The Irish Stock Exchange (ISE), in an effort to attract more foreign members and make its stocks more visible, has signed a letter of intent to trade all of its products on the Deutsche Borse’s (DB’s) Xetra trading platform. At the same time, the ISE is considering joining the pan-European equity markets alliance that is led by the London Stock Exchange and the Deutsche Borse A.G.-the DB’s German stock market subsidiary.

Tom Healy, CEO of the ISE, says the exchange expects to list its full complement of equities and corporate bond instruments on Xetra by the second quarter. After the products are ported over to Xetra, he says, the ISE will effectively be transitioned from a telephone-driven market to an all-electronic exchange.

By making all of its products accessible via a fully electronic trading platform, the ISE will become “more visible” to stock brokerage firms across Europe, says Healy. In turn, the exchange expects to attract more foreign members.

Today, the ISE’s membership is comprised of 12 Dublin-based firms and one London-based firm. But, as a result of its partnership with the DB, Healy says the ISE expects its membership to double by year-end-with the “majority” of that group residing in foreign countries.

While declining to specify which other systems the ISE considered, Healy says that the DB will be responsible for providing the ISE’s members with a gateway to Xetra. Currently, several independent software vendors (ISVs) provide front-end access to Xetra. It is doubtful, however, that the ISE’s members will work with those ISV.

Separate from its partnership with the DB, the ISE is also leaning toward joining the newly created pan-European stock market. Formed last year, that market is comprised of eight equity exchanges that have allied in an attempt to create a single market for trading European blue-chip stocks.

Register for Wall Street & Technology Newsletters
Video
Exclusive: Inside the GETCO Execution Services Trading Floor
Exclusive: Inside the GETCO Execution Services Trading Floor
Advanced Trading takes you on an exclusive tour of the New York trading floor of GETCO Execution Services, the solutions arm of GETCO.