The Irish Stock Exchange (ISE) has implemented Deutsche Börse’s new T7 trading platform for the Irish equity market.

According to Deutsche Börse, this new platform reduces cost for international trading firms to connect and trade equities on the ISE, due to lower development and maintenance costs for firms, which are active on T7 across multiple markets. The new system also reduces latency for all trading members.

Brian Healy, director, traded markets, development, operations at the ISE, says this “represents another milestone in our strategic partnership with Deutsche Börse” and “positions us well in a time of significant change for exchanges across Europe and in advance of MiFID II implementation”.

As reported last year, ISE renewed its technology partnership with Deutsche Börse and extended its use of trading infrastructure and related services. The new contract runs until the end of 2021.

The ISE has over 35,000 securities issued by 4,000 organisations from more than 85 countries on its markets.

In addition to the Irish deal, Deutsche Börse says its technology went live for Xetra trading on the Frankfurt Stock Exchange on 3 July and is already in use at the Eurex Exchange and the European Energy Exchange. Several other stock exchanges in Europe and globally use Deutsche Börse’s trading infrastructure.

Deutsche Börse’s 7 Market Technology series comprises the T7 trading infrastructure, the C7 clearing infrastructure, the N7 global network, the M7 trading platform and the F7 trading system.

Denied

By the way, earlier this year, the European Commission (EC) prohibited the proposed merger between Deutsche Börse and London Stock Exchange (LSE) under the EU Merger Regulation.

EC commissioner Margrethe Vestager, in charge of competition policy, said the merger “would have significantly reduced competition by creating a de facto monopoly in the crucial area of clearing of fixed income instruments” and as the parties “failed to offer the remedies required to address our competition concerns, the Commission has decided to prohibit the merger”.

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