The
Moscow Exchange (MOEX) Group is the main liquidity and
price discovery centre for Russian instruments. The Moscow Exchange
hosts trading in equities, bonds, derivatives, currencies, money
market instruments and commodities. The 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 the Moscow
Exchange.
MOEX teamed up with B2BITS®, EPAM
Systems' Capital Markets Competency Center to create
open Market Data and Transactional
interfaces, 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 (version 5.0 SP2) 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 it takes to onboard new clients
MFIX Transactional, service developed by
EPAM, is the fastest way to communicate with the MOEX Trading
System.
MFIX Transactional offers the following
solutions:
- MFIX Trade is used to submit
and cancel orders, request order status and receive execution
reports for each order
- MFIX Trade Capture is used to receive
executed trades, including negotiated and REPO deals and
corresponding executions
- MFIX Drop Copy is used to receive copies
of all execution reports available to the user.
MFIX Trade, MFIX Trade Capture, and MFIX Drop
Copy services are served by separate servers
(connections differ by IP addresses and port numbers) and have
different access levels.
MFIX Trade service only delivers messages related to the orders
of the appropriate user. MFIX Trade Capture and MFIX Drop Copy
services deliver data according to user permissions of the MOEX
Trading System.
MFIX Transactional supports the FIX 4.4 protocol.
Each of these solutions provides the functionality of
broadcasting their current state and availability. The MOEX support
team uses a special monitoring tool developed by EPAM for
real-time information about the state of each service.
The MFIX Market Data implementation that MOEX commissioned has
strengthened the competitive position of Russia's stock market. It
has been successfully used on MOEX production since 2008.