ADX Plumps for Nasdaq’s X-Stream
The Abu Dhabi Securities Exchange has signed a deal with Nasdaq OMX to upgrade its existing trading platform to Nasdaq’s X-Stream technology.
The new trading platform, which ADX expects to roll out in the second half of 2013, will enable the exchange to better support trading in equities, fixed income and exchange-traded funds with the possibility of introducing additional instruments later down the line.
According to director general of ADX, Rashed Al Baloushi, the upgrade will deliver “significant” performance and functionality to benefit regional and international investors.
ADX is the latest in a string of emerging exchanges to partner with technology provider Nasdaq OMX – for example, the New Zealand Exchange made a similar agreement at the beginning of the month. This type of partnership is to be expected as emerging exchanges seek to match the performance of the more established venues.
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