Deutsche Börse connects commodities traders with new platform
Deutsche Börse plans to expand the range of tradable commodities on M7
Deutsche Börse has signed a trio of commodities trading entities to use its new M7 trading platform, developed as part of a complete renewal of its trading infrastructure.
Singapore-based regulated futures exchange Cleartrade Exchange, London-based Freight Investor Services Ltd., a broker of freight and commodity derivatives, and Norexeco ASA, a commodities exchange for pulp and paper based in Norway, will start to use M7 in the next few months.
The M7 trading platform is part of the exchange’s 7 Market Technology series, which currently includes the T7 derivatives trading infrastructure, C7 clearing system, N7 network solution and M7 multi-asset class trading service. Like other parts of the family, its design allows the creation of applications and functionalities unique to a particular market structure or client base.
The platform is hosted on Deutsche Börse’s servers is being expanded to include new asset classes including iron ore, steel, oil, freight, pulp, paper and fertilizers, on top of its traditional client base in the gas, electricity and emissions markets.
Willy Suter, head of market solutions at Deutsche Börse Market Data and Services, said: “The M7 trading platform now caters to a wider range of commodity markets. In addition, the new release also offers broker functionality thereby increasing our user base to include brokers apart from exchanges and traders.”
M7 can be used by exchanges and wholesale brokers to run intraday futures, forwards, cleared and OTC markets. New features include a new matching algorithm based on customers’ clearing house preferences. In addition, quoting for market makers, new types of orders and auction algorithms are introduced. Users can also customise the trading screen and will be able to trade on spreads and implied prices.
