OREANDA-NEWS. February 10, 2011. On February 14, 2011 the modernized Trading and Clearing System of the MICEX stock market will be available to all market participants.

The new version of the System enables users to significantly reduce the time of receiving market information. It also enables to include into single settlement instruction the trades concluded from different trading and clearing accounts, and expand the composition of disclosed information on trades.

A new mechanism for the replication of data from the central unit to access servers of the trading system was developed following the load testing conducted in September 2010. As a result, in the new version of the Trading and Clearing System of the MICEX stock market, information from the table of orders is available to the client immediately after receiving a response from the Trading System to the input of an order. Thus, a client can receive data on his trades and orders at the MICEX Bridge output after the processing of his transaction by the Central Unit of the Trading System with a delay that has been reduced from 12–15 milliseconds to 1–2 milliseconds. The time of receiving all market information, including orderbook, has been reduced to 1–2 milliseconds.

“The acceleration of the response of the system is important primary for those of our clients who actively use high-frequency trading algorithms,” – said Marina Medvedeva, CEO of the MICEX Stock Exchange.

In order to automate the processing of data on current prices, “Time of minimal current price change” was added to the field “Minimal current price” in the composition of disclosed information.

Besides, participants can now include trades conducted with an indication of different trading and clearing accounts in urgent or special instructions to settle trades.

Net liabilities and net claims for each position in the composition of trading and clearing accounts specified in trades will be calculated in the clearing system. This will help to check the possibility of registering an urgent or special instruction to settle the trade, and information on net liabilities, net claims and positions in cash and securities will be reflected in the Trading and Clearing System.

To undergo the procedure for control of execution of an instruction to settle the trade, the numbers of trades that clearing participants – contractors include in the instruction must match. In the new version of the Trading and Clearing System up to 99 trades (compensation payments) can be included in a single urgent or special instruction to settle the trade.

Clearing fee is not charged for the inclusion of a trade in an urgent or special instruction to settle the trade.