Warsaw Automated Trading System, a newly developed modular trading and matching engine which offers the highest levels of reliability, flexibility and latency all within a very competitive pricing structure.
Key functionalities of the system:
- Modular, service orientated architecture – SOA
- Fully parameterized - capable of processing new types of orders
- Capacity to orchestrate and run different types of business models
- Smart pricing module
- Low processing latency - quick response time to requests
- Reporting module running in on-lie mode
List of functionalities:
A comprehensive multi-asset capability including derivates, bonds and commodities. WATS enables total flexibility
Integrated Order Books
Transparent and extensive integrated order book functionality allowing for explicit and implicit trades to be matched which improves matching performance.
WATS provides the capabilities of both a quotes-driven market and an order-driven market.
Utilises the industry standard connectivity protocol – FIX 5.0, providing global connectivity and security.
Ability to clear trades through multiple clearing houses
Possibility to utilise multiple central counterparty clearinghouses (CCPs) to give total flexibility in accordance with MIFID 2 regulations
WATS enables repurchase agreements also known as a repos
Cost calculator module
A tool which helps swiftly calculate prices (including interest) for derivatives and bonds.
Integrated IPO module
Functional capability to integrate Initial public offerings or stock market launches within the WATS system
A feature that prevents two orders with the same Market Participant Identifier from executing against each other.
Markets surveillance app
Market abuse is a focal point of regulatory scrutiny, therefore its imperative to have a robust surveillance procedure. Our app allows compliance teams to have a full overview of the risks and alerts related to market abuse.
Market Maker app
Capability that enables the verification of the conditions of fulfilment by the market maker, this helps create a well-structured and stable financial environment on the market.
Differing assets and geographical locations make the ability to trade around the clock essential and WATS provides this capability
WATS provides the possibility of breaking down data into components or units that the client requires. The individual parts of this information can be researched or identified in accordance with MIFID II regulations.
Encryption of data
Full encryption of data means that security and access is watertight and enables data that is transmitted and stored to be fully secure.
Publication of data from multiple assets and sources
Fully integrated system that allows data from multiple assists to be published and accessible 24/7.
The timetable for WATS is envisaged as the following:
- Final Prototype and launch of new system by Q4 2021
- Preliminary agreements with new buyers 2022
- Go Live on WSE 2023 followed by roll outs to new buyers