Bolsa de Valores de Colombia Continues to Work on Overcoming

December 17, 2014
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Bolsa de Valores de Colombia Continues to Work on
Overcoming Trading Platform Failures
Bogotá. The Bolsa de Valores de Colombia reported that between December 6th and 8th, it
conducted a technological upgrading process for the equity market trading platform X-Stream,
as an important step in its stock market internationalization strategy. The FIX 4.4 connectivity
protocol was adopted with this new version in order to substantially improve the services of
order routing and direct market access, positioning Colombia at the level of more developed
markets.
Since the new version of the platform was commissioned on December 9, it has been causing
instability in the connectivity of user terminals. In response, the Exchange said that, in spite
of the extensive testing conducted for months by both the Nasdaq OMX supplier and the BVC
technical team in accordance with the processes and protocols recommended by the best
practices for this type of events, this new version of X-Stream has had several failures, which
have prevented the normalization of its operations.
The BVC indicated that it has been working hand in hand with its provider to identify the
primary source of the problem and to find a definitive solution as soon as possible, by making
adjustments to improve the user experience and limit or eliminate any momentary
disconnections of the terminals.
The President and CEO of the BVC, Juan Pablo Córdoba, explained that "due to the
disconnection of several of the brokerage firm trading screens, and in order to ensure equal
access and operation for all users, on December 16th regulations required that we suspend
operations prior to that expected.”
Cordoba referred to this series of events as unfortunate and apologized to the users of the
system who have been affected by the failures. "We understand the annoyance felt by some
traders and we apologize for the inconvenience that this problem has caused to our members
and their clients. We have full confidence in the knowledge and experience of the technical
teams of the BVC and Nasdaq OMX and we are confident that these difficulties will be quickly
overcome. We are also grateful to our members for their display of solidarity during this time
and we are committed to the improvement of our services," he added.
Lastly, the BVC noted that it has been using the X-Stream platform since 2008 with excellent
levels of reliability and stability, in compliance with high standards of availability during this
time.
Acerca de Bolsa de Valores de Colombia S.A.
La Bolsa de Valores de Colombia (BVC:BVC) es una empresa privada listada en el mercado público de valores que
administra plataformas de negociación de títulos de Renta Variable, Renta Fija y Derivados Estandarizados y, a través
de filiales creadas mediante alianzas estratégicas con otras compañías, opera los mercados de Commodities
Energéticos y de Divisas. Para más información consulte www.bvc.com.co o mediante Twitter en @BVCColombia
Contacto de prensa:
Bolsa de Valores de Colombia
Dirección de Medios y Relaciones Públicas
Jorge Alberto Arciniegas – Daniel Bernal
Teléfono: 3139800 Ext.1246 / 1126
Correo electrónico: dbernal@bvc.com.co