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IRESS to develop trade tools for new ASX services

IRESS to develop trade tools for new ASX services

Financial software and services provider IRESS (ASX:IRE) has entered a partnership to integrate its trading tools with ASX Limited's (ASX:ASX) newest market services.

Under the terms of the arrangement, IRESS will work with ASX to modify its trading platform to support ASX's new large order execution service, VolumeMatch, by January 31 next year.

The same platform will also provide connectivity with the upcoming PureMatch ultra-low latency execution facility for top-200 securities, scheduled for launch in 2011.

In addition, IRESS has signed on to become a foundation customer of the upcoming ASX co-location facility, which is expected to go live in Q4 of next year.

“ASX is pleased to be working with IRESS to develop connectivity to its new suite of execution services,” ASX deputy CEO Peter Hiom said.

“Access to ASX VolumeMatch through the IRESS platform will provide users with greater opportunity to tap into the new liquidity now available through that service.”

IRESS' announcement comes hot on the heels of the Monday signing of a deal to provide its XPLAN wealth management software platform to Count Financial.

IRE shares ended the day's trading 3.23% lower at $8.700.

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Tags ASX:ASXASXPeter HiomsoftwareIRESSASX:IRE

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