SOLA Overview

SOLA, the trading platform developed by MX, is a highly robust and low-latency best in class trading system for multiple financial derivative products such as standardized options and futures.

SOLA comprises four modules:

  • SOLA Front End Trading: Manages MX's SAIL native protocol and the FIX 4.2 Protocol
  • SOLA Market Data: Market data dissemination is supported by the legacy High Speed Vendor Feed (HSVF) in ASCII format, and also Order Book Feed (OBF) in Binary format.
  • SOLA Post Trade and Ancillary Services: include Trade Management System (TMS), Trade Manager FIX API protocol, PAR Reports (Participant Activity Reports), and TMX Connect, which includes access to Web Pre Trade Risk, Web TMS, Tableau Market Maker reports and Web Apps Store.
  • Drop Copy Services: Automated Trade Report (ATR), SAIL Drop Copy, FIX Drop Copy

MX derivatives on SOLA

Trading Session

  • The MX technical Session starts at 7 PM ET and trading ceases at 4:30 PM with Post Trading Activities ceasing at 5:20 PM ET.
  • Opening and Trading Schedules vary from product to product depending on if it is a regional or international traded product. See the detailed schedule of all instruments.

Order Types duration and Special Trading features

Clients can trade an array of order types and durations on the SOLA trading platform. Different Order Quantity Types, price Types, order duration and trading features (Implied Trading, Basis Trade on Close, etc.) vary based on the rules and contract specification of each product.

Here is a full table describing the available order types, durations and features for each Instrument type and Asset Class on the MX: