The Sibiu Monetary Financial and Commodities Exchange (SIBEX) in Romania is now using Trayport's Exchange Trading System to support future growth and the trading of single stock, interest rate, currency, and gold futures and options.

The matching engine from Trayport has been added to a web-based trading platform and is flexible enough to allow future growth and diversification at SIBEX, giving brokers in Eastern Europe more choice and access to global markets. For instance, the Romanian exchange is planning to launch a Contract for Difference (CFD) market later in 2010 using Trayport's Exchange Trading System, to join the futures and options choices that are now available.

Commenting on the technology overhaul, Darius Cipariu, deputy managing director of SIBEX, said: "We chose to use Trayport's Exchange Trading System to support our requirement for a fast reliable system that can handle large trading volumes, because of their experience. We had previously built our own platform and, although we kept upgrading, we found that as our exchange grew it was becoming too limited. Trayport provides a platform that comfortably supports our requirement for 5,000 or more trades per day, and will also enable us to establish new markets very quickly. This is vital to SIBEX."

Since entering the agreement with the vendor late last year, SIBEX has introduced its own web-based front-end trading platform and clearing system connecting to the Trayport Exchange Trading System using Trayport's Risk API.

"Our web based trading platform will enhance our trading capability," explains Darius Cipariu. "The fact this is backed up by a reliable matching engine like Trayport's Exchange Trading System can only be a major benefit. It means that with over 40 brokerages as clients, each having up to 1,000 retail clients, we are very well positioned to expand into new asset classes whilst continuing to support our existing clients."

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