OREANDA-NEWS. On 13 March 2009 was announced, that the launch of the new trading system of the PFTS Stock Exchange, based on the IT platform that secures the operation of the MICEX Group’s on-exchange markets, is scheduled for April 2009.

The new trading system is adapted to the needs of the PFTS Stock Exchange and is fully integrated with the settlement and depository system of the Inter-Regional Stock Market Association. It provides:

trading in the stock market and the government securities market in the negotiated deals mode, similarly to the PFTS quotations market;

trading in the stock market in the main trading mode (continuous counter-auction, discrete dual auctions);

registration of OTC transactions;

interaction with the settlement and depository system of the Inter-Regional Stock Market Association, including the adaptation of the clearing module of the new trading system to the requirements of the PFTS with T+0 settlements.

interaction with brokerage systems of participants in trading on the PFTS.

localization of the software of the new trading system and workplaces of participants in trading PFTS TRADE SE in the Ukrainian language;

calculation of stock market indices in the real-time mode in accordance with the requirements of the PFTS.

Additional functional capabilities of the new trading system will be implemented before the end of 2009. They provide:

trading in bonds in the government securities market of in the main trading mode (continuous counter-auction, discrete dual auctions) in collaboration with the settlement and depository system of the National Bank of Ukraine;

placement and repurchase of securities;

trading in the repo mode in the stock market and the government securities market;

further modernization of clearing.

According to the MICEX President Konstantin Korischenko, “The new trading system of the PFTS Stock Exchange, which was successfully tested in the markets of the MICEX Group and adapted to the needs of the Ukrainian stock market, has certain significant advantages over the existing system, first of all, high reliability and technological effectiveness. The implementation of the new trading system will help to increase trading volumes, improve liquidity and promote the growth of the number of clients of the PFTS Stock Exchange. These projects contribute to the development of mutually beneficial cooperation between the two countries in the field of financial markets.”

President of the PFTS Irina Zarya noted that “the new system prepares the PFTS for the growth of market activity. It will help to increase the volumes of portfolio investments which non-residents and domestic investors make in the Ukrainian securities.”

In June 2008, the MICEX won an international tender for the selection of software for the new trading system of the PFTS Stock Exchange. In July, the MICEX and the PFTS Stock Exchange started the project to implement a new trading system of the PFTS. In August 2008, the two exchanges made a presentation of the service model of the new trading system.