The Prague Stock Exchange has transferred its electronic securities trading to Deutsche Börse's Xetra trading system as of 30 November.
It is being linked to the Xetra network through the Vienna Stock Exchange, which has operated its own cash market with Xetra since 1999.
The Vienna Stock Exchange is part of the CEE Stock Exchange Group (CEESEG) together with the exchanges in Budapest, Ljubljana and Prague. The migration enables each of Xetra’s trading partners to gain access to the Prague financial market via the Xetra infrastructure.
“We have worked with the Vienna Stock Exchange for over twelve years as a sourcing partner. We are delighted that the Prague Stock Exchange is now operating with Xetra technology as a further CEESEG partner exchange thanks to this successful cooperation,” said Frank Gerstenschläger, member of the executive board of Deutsche Börse AG and responsible for the Xetra business area.
Michael Buhl, a member of the management board of CEESEG, said: “By standardising the trading systems and membership contracts across our group, we wanted to acquire international investors and strengthen liquidity on all CEESEG markets.”
Petr Koblic, general director of the Prague Stock Exchange, said: “The introduction of the new trading system will make trading at the Prague Stock Exchange more attractive for international investors who already use the Xetra system. We expect the implementation to have a positive effect on liquidity.”
A number of European stock exchanges use Xetra. The Irish Stock Exchange joined a year after its implementation in 1999, the Bulgarian Stock Exchange linked in 2008 and the Ljubljana Stock Exchange in Slovenia migrated in 2010. This year also saw the Malta Stock Exchange join the platform.
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