The key objectives of the Exchange are to simplify implementation and support electronic messaging for the Market by:
- Ensuring a single standard is enforced across the Market so everyone 'speaks the same language'.
- Providing a single connection point to remove the need to maintain multiple connections between every trading partner and IT supplier.
Ultimate vision
- Face to face negotiation remains a key strength of the Market; but supported by electronic messaging
- A single standard in use by the Market; everyone speaks the same language
- All message types carried over the Exchange; placement, accounting settlement and claims
- Straight through processing: enter data once, use throughout the risk lifecycle
- Choice: no more ‘one size fits all’
- An efficient, modern Marketplace, leveraging the strengths of our people, process and technology.
