Moscow exchange is working on the introduction of new technologies, more sophisticated market infrastructure and eliminating some of the problems, said the head of the Supervisory Board of the Moscow exchange Alexey Kudrin.
SHANGHAI, 6 Nov. Moscow exchange plans within 1-1. 5 years to reduce the number of failures and stop trading currently paraonidae technology, told journalists the head of the Supervisory Board of the Moscow exchange Alexey Kudrin.
“We expect over a year and a half to reduce stops. We are now in the period of retooling our technologies, the transition to new,” he said on the sidelines of a joint conference of the Shanghai and Moscow stock exchanges on Friday.
In response to the question about finding the perpetrators of the frequent failures, Kudrin noted that “in this case there are no persons who would be directly responsible”. He noted that the question of failures on the Moscow stock exchange is regularly evaluated by the Supervisory Board, particularly the Committee on information technology under the Supervisory Board.
Kudrin stressed that the exchange is working on the introduction of new technologies, more sophisticated market infrastructure and the elimination of several problems. “We have to go step by step from the old technology, and sometimes there are emergencies. They are always parsed”, — he said.
“We do not tolerate stops more than on major exchanges. But of course it worries us. There are no guilty. It is a matter of failure of technology. We do double, triple margin, which should prevent such failures, but it doesn’t always help. We understand in these emergency situations. They are always unique,” — said Kudrin.