Trading Platform

BOX completed the technological overhaul of its trading platform with the implementation of the SOLA® Trading Engine, a proprietary trading technology developed by the Montréal Exchange (MX), in September 2006. Under a facilities management agreement, MX uses dedicated BOX hardware to operate the components required by BOX for its fully automated options market.

The SOLA® Trading Engine was specifically designed to meet the unique requirements of BOX trading. In particular, the version used by BOX can efficiently process a very large number of update messages per second allowing BOX to adopt its "open, competing market maker" structure.

The BOX trading engine provides an "open API" (Application Program Interface), which allows BOX Participants to seamlessly interface their existing order routing and trading software to the trading engine. BOX also provides gateway protocols such as FIX and CMS for connection to its trading engine. For more information about technical connectivity, go to Trading at BOX.