Technology

  • Technology

    Over 25 years of innovation

We have successfully facilitated an orderly electronic European fixed income market for issuers, primary dealers and the secondary market since 1988. 

Our technology is now used by participants across Europe and the US trading government bonds, quasi-government bonds, corporate bonds, covered bonds and repo, with average daily volumes of up to EUR 100 billion across interdealer and dealer-to-client markets.
 
MTS delivers:

  • Flexibility one single trading platform combines different market models (interdealer, D2C); products (cash and repo); and functionalities (click and trade, request for quote, etc).
  • Scalability modularity of components allows for both horizontal and vertical scalability
  • Capacity level of throughput that MTS can sustain is continuously improving and is first class in the fixed income arena
  • Performance average round-trip time of transactions is currently less than 0.5ms, with extremely low variance
  • Seamless integration open architecture enables integration with ISV solutions and existing internal systems

 
Connectivity

  • MTS provides market participants with standard reference GUIs
  • Members can implement more sophisticated solutions (e.g. custom GUIs, auto-quoters applications) or integrate MTS trading functionality within their existing applications (e.g. deal-capture for risk management systems)
  • The most effective and rapid way of communicating with the MTS markets is to use the SDP native protocol. FIX protocol connectivity is also supported
  • The MTS markets platform can be accessed either via leased line connectivity or public internet
  • Official network service providers for leased line connectivity currently authorized by MTS are: BTRadianz, SIA, BItNet (LSE/Borsa Italiana Group) and UPC Czech Republic

Straight Through Processing

  • MTS is linked to all the major European clearing houses and central securities depositories (CSD), either domestic or international
  • Upon trade execution settlement instructions are automatically created and sent in real-time by MTS to the relevant central counterparties or CSDs/ICSDs on behalf of market participants
  • Copies for information messages can be sent to custodian banks and/or general clearing members for reconciliation purposes
  • The automatic creation of the instructions identical for both parties eliminates any risk of post-trade discrepancies and mismatching errors