Other BME Products
and Services
9
80
STRUCTURE ORGANISATION AND OPERATION
OF THE SPANISH SECURITIES MARKET
RESEARCH AND DEVELOPMENT:
In response to the new technological trends of the
international financial market for a more dissemi-
nated use of Algorithmic Trading systems, Visual
Trader has developed the SuperTrack system to fa-
cilitate development and implementation of algo-
rithmic models, econometric studies and stochastic
models.
SuperTrack consists of a platform comprising:
• A database with intraday data on SIBE, Euronext,
Xetra and the Italian stock market, created and
maintained from Visual Trader with a daily upda-
ting service.
• A market simulator to enable banks to test their
own models.
• An Algorithmic Trading system, AlgomaX integra-
ted into the maX terminal, to operate a series of
models developed internally by Visual Trader and
parameterisable by users.
Visual Trader supplements the range of services in-
tegrating SuperTrack technology to its products in
order to provide:
• A trainer for training trading desk operators, which
minimises the cost of training new traders and also
optimises the quality of their training as they can
trade in a “real environment” without incurring any
losses.
• MiFID consultancy services which cover the fo-
llowing needs:
- Analysis of best execution, for assessing the various
Execution Venues. Transaction Cost Analysis.
- Record Keeping: Integration of the registry of
client’s orders with historic trading data and market
positions.
OTHER SERVICES:
• PROXIMITY: Visual Trader manages the BME’s
Proximity services in order to provide top interna-
tional financial institutions with the quickest access
to the Spanish market.
• HUB IN LONDON: Visual Trader has completed a
new project to establish two hubs in London, con-
nected through two independent low-latency lines,
with a dual objective: on the one hand, to facilitate
and improve access quality for all institutions ope-
rating from London in the Spanish market; and, on
the other, to improve latencies and costs associated
with Spanish institutions’ access to international se-
curities markets.
• MARKETS INSIGHT is an innovative web service
which offers market intelligence that brings to-
gether data in an intuitive and visual manner. The
aim of MARKETS INSIGHT is to provide support for
trading and market analysis in the form of innovati-
ve ratios and charts reveals critical information on
market activity.
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