MSE

The Computer Assisted Trading System (CATS) is the world’s first fully electronic trading system. Designed by the Toronto Stock Exchange, it was implemented in Madrid Stock Exchange (MSE) in 1989. Initially, MSE started trading seven large-cap stocks in CATS; then it expanded to 51 at the end of the year.

In 1995, MSE replaced CATS with Sistema de Interconexión Bursátil Español (SIBE), which connects four Spanish stock exchanges in Madrid, Valencia, Bilbao, and Barcelona.