ICE Completes Rebuild of NYSE Technology Stack

ICE has completed rebuilding the technology stack for the New Stock York Exchange, which it acquired in 2013. Jeffrey Sprecher, chair & chief executive of ICE said, according to a story in MarketsMedia news, that the New York Stock Exchange had been built on a technology stack that was overly complicated, hard to manage and unreliable. Since ICE acquired NYSE it has aimed to completely rebuild the underlying architecture with modern technology. However, given the importance of the stock exchange to the global economy, the exchange had to remain in daily use and retain its extensive connectivity to the global financial services industry, while at the same time customers could not be required to invest in making changes on their side of the firewall. Sprecher compared this process to building a new bridge while cars continue to drive across it. “We wrapped the old technology with a modern front end and methodically rebuilt and replaced all the back-end hardware and software,” he said. “This process took us years to execute with our successful final software rollout just a few days ago, which removed the last of the NYSE’s seven legacy matching engines.” Sprecher described the NYSE as now sitting on top of one of the most powerful, deterministic performance and resilient technology stacks in the world. He continued that ICE is also being asked a lot about its adoption of large language models and learning algorithms. ICE has been investing in adaptive learning tools for more than a decade and incorporated learning tools into the ICE Chat system to automate workflows based on unstructured conversations between traders and the back office. The group has also been deploying learning models in its compliance efforts to recognize abnormal trading patterns.