The Dutch company CT&S is proud to announce that it has been identified as a category 1 ISV, which is the highest category.
CT&S is providing access to the open electronic share trading system of Euronext for non-member stockbrokers and banks in the USA.
Supported by the ESA Telecom ARTES 3 Multimedia Programme, 'Jupiter', the innovative interface system recently developed by CT&S, connects the (Internet) trading system of the Investor's broker directly with Euronext.
Jupiter pilot system architecture
The member bank provides the share settlements, custodian services and financial settlements to the Internet broker and the Exchange''s Clearing Institute at the end of the day. The bank also holds the Exchange license and is responsible for the reporting to the local official authorities.
Cees Krijnen, CEO of CT&S, outlined the advantages of Jupiter over existing trading exchange systems:
"This concept is extremely fast and very cost competitive. No costly hired telephone lines over the Atlantic, instead using a high speed shared satellite backbone. No performance loss occurs in the interface or gateways due to new technology, even at trading peaks.
Only expensive professional services offer direct connections, but still have the handicap of using old technology connections. The older Computer To Computer Interface (CTCI) operates with a maximum transfer rate of one (1) order per second! Just imagine busy trading times, not even to mention trading peaks.
CT&S uses quite a different technology with transfer rates one hundred times faster. Besides, in combination with partnering Clearing banks, Jupiter is able to connect professional non-Exchange members directly to the Euronext Trading engine NSC, which is cost effective and increases performance."
Last November, certification was granted by Euronext to use Jupiter in a live trading environment. Pilot testing of the system using a real client was carried out in December 2001 and January 2002 and we are proud to announce that Jupiter is now commercially up and running.
For more information on the Jupiter project, see 'related links'.
