A national stock exchange offering equity markets, futures on equities, indexes and a handful of commodities, corporate and government bonds are today operating no less than three separate matching engines and an isolated system for IPOs and primary market processes before a security is admitted for trading in the secondary market. 

Maintenance and operational costs are very high, and at any given time at least one of the systems are going through an expensive upgrade and enhancement process to be on a later version, upgrade the hardware, or introduce some new functionality to the exchange participants. 

The change management process is very slow and the cost of implementing new ideas usually slows down or even prevents the introduction of services the market, the exchange board and national politicians all agree would benefit the local economy and capital markets function. 

The Exchange decided to review options to see if there is a simpler solution that would allow them to constantly be on the latest versions, quickly introduce new services and ideally run all markets in the same system, possibly deployed in a few instances to reduce operational risk. 

After an extensive market research, Exberry was the selected service provider. 
Through its innovative and robust Software as a Service, a fit for purpose exchange platform was launched in a few months mapping in detail to the Exchange and regulator requirements. 
The equity market remains installed on local hardware, and all other markets, where access latency is less sensitive, has been moved to a local cloud provider. The actual market migration was done step by step, avoiding a big bang launch and a gradual decommission of existing infrastructure. This reduces the implementation burden on banks and brokers, and de-risks the launch of the new system.The result is vastly reduced cost of ownership, and greatly reduced barrier to changes and introductions of new services. The net result is a better functioning capital market benefiting the national economy, and improved profitability for the exchange.