History of Elasticia
Elasticia started in 2006, when NGM bought the source code and rights for the trading system Tellus from the company Univits(*), who had been developing and operating the trading platform for NGM during almost 6 years.
There was an urgent need to boost the performance in the system that had been bought, and the two developers just recruited dug into the task. The throughput capacity of the system was 5-folded and the system was renamed to Freeway (yes, Uranus was rejected). In the performance boosting work t was learnt that the architecture of Freeway was not going to allow for any major performance increasements, and this was basically the spark for the project to develop a new trading system, which was to become known as Elasticia.
From the start the new system was more thought of as being new on the inside with a new native protocol, but consistent with old protocols as well. After some research being made to investigate various protocols, FIX over FAST was chosen. Some concerns of the effectiveness of the protocol were risen, but it was concluded that it had to be supported in one way or the other. At this stage, as it was to be supported anyway, it could as well be used internally in the core system and not just on the outside requiring a protocol translating gateway. By using FIX internally, NGM was only going to have to support three dfferent protocols instead of four if FIX + a new internal protocol was to be used (the others were UniTP and MarketFeed).
At the early summer 2008, NGM presented the plans to integrators. The plan was to have the new system out within a year, but then started a troublesome period at NGM wihich led to uncertainty for the company as a whole. There were not much of a boost in the Elasticia-project, but it was a good opportunity to review the system design. A couple of months later, major parts of the system had been rewritten and NGM had, to the staff's relief been bought by Börse Stuttgart.
A period with discussions on future plans and how to work followed with the acquisition from Börse Stuttgart, but around June 2009 decisions on the general functionality of Elasticia's first production release was taken. In October 2009 the date May/June was set for the launch, but it turned out to be more work for NGM, our integrators and members than first anticipated and the project was postponed until the autumn 2010.
Over the years, since first introduced, Elasticia has been further developed to provide clients the means to successfully realize their business through a reliable and efficient exchange environment.
On November 15 2010, Elasticia was released into production with all of NGM's markets moved over to the new trading platform.
In November 2017, Spotlight Stock Exchange was the first external customer to switch to Elasticia.
In April 2018, BX Swiss followed Spotlights path and as the first non-Swedish exchange moved their exchange to Elasticia.