Chicago Stock Exchange

Contact:
Chicago Stock Exchange, Inc.
440 S La Salle Street, # 3200
Chicago, IL 60605
U.S.A.
http://www.chicagostockex.com (DO NOT EXIST)

Tools Used:
IONA's Orbix®, OrbixTalk™, Microsoft NT Workstations, CORBA®

Problem:
The Chicago Stock Exchange is in need of a powerful system. This system would meet the growing needs of its traders, coupled with the scalability to facilitate millions of online transactions.

Solution:
The Chicago Stock Exchange (CHX) has made plans to replace its core trading system with a new powerful trading system. The new trading system will utilize IONA® Technologies' Orbix® family of products to make its software work together. The Chicago Stock Exchange is the third largest stock exchange, in terms of trade and share volume, in the United States and has led an important initiative seeking price improvements for investors by introducing and upgrading its automated trading system. IONA's Orbix has been selected to enable the different IT systems in the application to work together with OrbixTalk™ providing messaging functionality.

Chicago Stock Exchange consistently earns industry recognition for its successful use of cutting-edge technology. Often blending existing systems with new technology, it was the first exchange to utilize object technology in its core trading systems. The specialists on the exchange floor use Microsoft Windows NT workstations that run a variety of software used for trading. IONA's Orbix products have been employed to tie new applications together, providing a real-time, fault-tolerant, equity trading system.

"With the year 2000 approaching we are looking ahead to another century of progress characterized by a continuing dedication to technological innovation," stated John Kerin, vice president, Chicago Stock Exchange application development. "IONA's Orbix products are an integral component to all of our existing and future distributed trading applications - the value of our technology allows our traders to offer lower costs, more flexibility, reliability and faster service than other exchanges. The inherent scalability that Orbix delivers enables us to easily add to our trading system at any point in the future without the headaches of ripping out and replacing everything."

"The Chicago Stock Exchange needs a powerful IT system, that will meet the growing needs of its traders, coupled with the scalability to facilitate millions of online transactions," stated Noel Toolan, senior vice president of market development at IONA Technologies. "As the largest regional stock exchange in the country, the Chicago Stock Exchange must have a powerful infrastructure to support this solution. The Orbix product family offers the Exchange all of these things making its software work together and allowing it to extend its systems when required."

The Chicago Stock Exchange was founded May 15, 1882. The CHX is the fastest growing exchange providing the strongest force for competition to all U.S. markets. The CHX trades more than 4,000 NYSE, AMEX, Nasdaq and CHX-exclusive issues, more than any other stock exchange in the world.