NYSE System Remains on Track in Warsaw
January 7, 2013
The Warsaw Stock Exchange has appointed a new chief executive, in the wake of an ethics probe of Ludwik Sobolewski. But it says its plans to upgrade its technology to NYSE Euronext’s Universal Trading Platform won’t be affected. Plus, a Mexico City to New York connection for Perseus Telecom; and, a highly secure blade at Fortinet.
WARSAW STOCK EXCHANGE: The Warsaw Stock Exchange has appointed a new chief executive, in the wake of an ethics probe of Ludwik Sobolewski. But it says its plans to upgrade its technology to NYSE Euronext’s Universal Trading Platform won’t be affected.
Sobolewski was suspended Dec. 21 after a probe showed he breached the exchange’s code of business ethics while helping seek financing for a movie production. The Treasury Ministry, which oversees state companies, is seeking to dismiss Sobolewski at a shareholders’ meeting this month.
The appointment of Adam Maciejewski, a management board member, as an acting CEO should help ensure the introduction of the Universal Trading Platform, suitable for high-frequency trading, on April 15, according to supervisory board chairman Leszek Pawlowicz.
“We are absolutely sure the management change won’t delay the process,” Pawlowicz told Bloomberg News. “The person appointed as acting CEO has been responsible for the new system implementation.”
The Warsaw bourse bought the UTP system from NYSE Euronext (NYX) to replace its 13-year-old Warset platform and make trading more efficient for its clients. The start of the new system had been initially planned for late last year.
The Warsaw exchange announced its plans to migrate to NYSE technology in mid-2010.
PERSEUS TELECOM: The provider of connections to trading venues around the world said it signed up Mexico City brokerage CI Casa de Bolsa as a customer.
CI Casa de Bolsa will use Perseus Telecom's ultra-low latency network between New York and Mexico City.
With U.S.-listed stocks displayed in Mexico, CI Casa de Bolsa hopes to attract foreign investors as clients.
“Their network is built for performance and customer satisfaction without the overbearing costs that low-latency technology can sometimes bring to our bottom line,” said Mauricio Suarez, Head of International Sales at CI Casa de Bolsa. “
FORTINET: The Sunnyvale, Calif., company announced a high-performance security blade for firewalls, the FortiGate-5001C. The blade provides large data centers as well as private and hybrid cloud deployments with a consolidated set of security features.
Firewalls using the blade can still handle 40 billion bits of throughput a second. The security features include virtual private network, application control, intrusion prevention, anti-malware and Web filtering services.