SPIMEX aims to develop new trading system with VK Tech based on Tarantool in 12-18 months

MOSCOW. Dec 29 (Interfax) - The St. Petersburg International Mercantile Exchange (SPIMEX) hopes to develop a new trading system with VK Tech based on Tarantool in 12-18 months, SPIMEX senior vice president Anton Karpov said in an interview with Interfax.

"SPIMEX, as a universal commodities exchange, deals with very different markets. On each of them there are different delivery terms, aggregate state of the commodity, various types of automation, bases, services. Therefore, for us, as an infrastructure organization, introducing new IT solutions, switching to a new trading system or systems is a serious challenge. There are no ready solutions in Russia. Exchange activities are quite exclusive even by global measures. We're going the way of a partnership and now this technology partner is VK Tech, which has good solutions, but all of them need to be refined in our specifics," Karpov said.

"Together with VK Tech we have begun implementing a project to create a new electronic trading system and clearing system for use on the derivatives market. The solution is based on data storage and processing software under the Tarantool brand. We will essentially have to make a fundamentally new trading system, working out the required solutions as we go. This will take a year to 18 months at least," Karpov said.

"Tarantool will ensure reliable information storage and system fault tolerance. We will use these technologies on the derivatives market for now, this is less sensitive for us than the spot market. If the solution offered by VK Tech is able to support the operation of the oil product derivatives market, we will transfer it to the spot segment," Karpov said.

"Another external developer is working on the actual SPIMEX trading terminal. We're trying to separate developers so as not to place all orders with one supplier," he said.