FAST and FIX protocol implementations for MOEX

Customer

The Moscow Exchange (MOEX) Group  is the main liquidity and price discovery centre for Russian instruments. Moscow Exchange hosts trading in equities, bonds, derivatives, currencies, money market instruments and commodities.  Moscow Exchange ranks among the world's top 20 exchanges by total capitalisation of shares traded, and also among the 10 largest exchange platforms for bonds and derivatives trading. Securities of over 700 issuers are admitted to trading on the equity and bond markets of Moscow Exchange.

Solution  

MOEX teamed up with  B2BITS®, EPAM Systems' Capital Markets Competency Center to create an open Market Data interface compliant with the standard Financial Information Exchange (FIX) protocol. EPAM's B2BITS is a well-respected provider of tools and technologies for exchange connectivity, OMS and EMS solutions. It has a solid track record of successful solutions development and implementations in the security industry.

FIX Market Data service developed by EPAM offers the following benefits:

  • It provides subscription services to all securities traded on the exchange, as well as data snapshots, incremental updates, instrument definitions, and status information
  • It supports both the FIX (versions 4.2 and 4.4) and FAST protocols
  • Its interface enables access to MOEX via a diverse range of vendor solutions designed for brokers, investment banks, and insurance companies
  • The services and interface provided by MFIX Market Data dramatically reduce the time for on-boarding of new clients

Technologies and Tools

Results

The MFIX Market Data implementation that MOEX commissioned has strengthen the competitive position of Russia's stock market. It has been successfully used on MOEX production since 2008.