The management of Budapest Stock Exchange (BSE) confirmed today, 25 November, that the implementation of Xetra at BSE is on schedule - the necessary testing has been performed successfully and thus the new trading system will go live at 9:00 local time on 6 December 2013.
Xetra will replace the currently used MMTS for the cash market of BSE only. The derivatives (futures and options) and commodities trading will not be switched to the new system and will remain in MMTS.
The implementation of the new system in the "Premium" and "Standard" categories of the equities section will bring no changes and therefore the trading will remain continuous and similar to the current process at the beginning and at the end of the trading day there will be two auctions to respectively set the opening and the closing price. In category "T" (similar to the market for debt instruments and investment fund notes) the continuous trading will cease to exist and will be replaced by multiple auctions within the trading day.