Borsa İstanbul Executive Vice President Adnan Metin was awarded the CIO of the Year Award for BISTECH Transformation Project. The award is given in more than 40 countries, including the USA.
CIO magazine, published under IDG license by Dünya Bilişim Grubu (Dünya Information Systems Group) has been awarding CIOs that realize successful projects in their respective institutions in Turkey since 2010. In the contest, the projects and the success of the nominees are evaluated by a jury consisting of independent experts of the sector. Borsa İstanbul’s BISTECH transformation project was honored by a CIO award this year. The award ceremony was opened by a speech by Dünya newspaper’s Editor-in-Chief Hakan Güldağ, who has been supporting the award for the last five years. The ceremony brought together information and communication technology leaders as well as senior executives of Turkey’s leading organizations.
Borsa İstanbul Executive Vice President Adnan Metin was awarded the CIO Award of 2015.
On the award, Adnan Metin said, “Thanks to BISTECH transformation that Borsa İstanbul realized in cooperation with the world’s leading exchange NASDAQ, Borsa İstanbul entirely renewed its 22 year-old infrastructure. Therefore, the technology leg of the Turkish capital markets transformation, initiated with the merger of three exchanges operating in Turkey has been completed to a large extent. Borsa İstanbul has invested in the vision of developing domestic financial technologies through its participations, Finans Teknopark A.Ş. and Teknoloji A.Ş.. On the other hand, thanks to NASDAQ project, Borsa İstanbul now has a new infrastructure whose software source codes it owns, which it will support through local human resources, and on which it will implement modifications as may be required. Borsa İstanbul holds the re-sales rights for 25 countries of the products and solutions developed within the scope of the project. I am honored to receive the CIO of the year award with BISTECH transformation project in this remarkable event organized by Dünya Information Systems Group”.
BISTECH in Figures
| Gains of BISTECH Project | ||
| Pre-BISTECH | Post-BISTECH | |
| Order Transmission Speed with FIX Protocol | 1 millisecond | 100 microseconds |
| Co-location Order Transmission Speed with OUCH Protocol | - | 60 microseconds |
| Data Dissemination on order basis with ITCH Protocol | 10,000 messages/seconds | 75,000 messages/seconds |
| Maximum Order Processing per Second | 10,000 messages/seconds | 100,000 messages/seconds |
| Sustainable Order Processing per Second | 5,000 messages/seconds | 10,000 messages/seconds |
| Sustainable Data Dissemination No. of Messages per Second | 4,000 messages/seconds | 10,000 messages/seconds |
| Daily Maximum No. of Orders | 3,500,000 | 10,000,000 |
| Daily Maximum No. of Trades | 1,200,000 | 5,240,000 |
| Platform Information for Markets | Separate system for each market | 4 markets on a single platform |
| User Order Limit Mechanism | Off-limit orders are rejected | Off-limit orders are queued |
| Re-Sales Rights | - | Re-sales rights for 25 countries |
