Under the agreement, Deutsche Boerse will be organizing the trade process and will be responsible for technical control over it. The servers are situated in Franfurkt – Hausen, Germany. The agreement will be in power for a term of 5 years.
Annexes to the agreement will be issued soon, and will provide information on the financial parameters, the deadline for installation, and technical maintenance on the part of Deutsche Boerse. According to plans, XETRA trade starts in the middle of 2008.
BSE decided to introduce the program to meet the necessity for internationalization and integration with leading foreign markets.
This means that all participants in the trade process via XETRA will have direct access to the Bulgarian market, and at the same time, Bulgarian participants will be bale to trade with more than 17,000 financial instruments, listed with XETRA.
XETRA is one of the most powerful trade platforms and a synonym of electronization and internationalization of equity trade. Deutsche Boerse has been using XETRA to run the trade platform of Vienna Stock Exchange since November 1999, and of the Irish Stock Market in Dublin since June 2000.
The Shanghai Stock Exchange, which runs the biggest cash market in China is also planning on introducing the XETRA technology in its future trade system.