DGAP-News: The Iraq Stock Exchange Upgrades to NASDAQ OMX's X-Stream Technology
(firmenpresse) - The NASDAQ OMX Group, Inc.
28.06.2013 13:00
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NEW YORK and BAGHDAD, Iraq, 2013-06-28 13:00 CEST (GLOBE NEWSWIRE) --
The NASDAQ OMX Group (Nasdaq:NDAQ) has entered an agreement with the Iraq Stock
Exchange (ISX) to upgrade its current trading platform. Under the terms of the
agreement, ISX will replace its existing NASDAQ OMX platform (Horizon) with one
powered by the renowned X-stream technology. The upgrade is expected to be
rolled out by mid-year 2014.
'We are committed to becoming one of the most innovative and groundbreaking
exchanges, in the Middle East and across the world,' said Taha A. Abdulsalam,
CEO, Iraq Stock Exchange. 'Upgrading our trading technology and continuing our
partnership with NASDAQ OMX is a clear indication to investors, regulators and
other exchanges that Iraq will continue to become a financial center for more
regional and global businesses.'
The upgrade to X-stream will provide ISX with a widely deployed high-end,
multi-asset trading platform that complies with international standards. The
migration to X-stream is a step in ISX's ambition to become a Middle Eastern
hub, able to host and facilitate other regional markets. NASDAQ OMX has
delivered trading technology to ISX since 2007.
'We congratulate the Iraq Stock Exchange on their commitment to a trading
platform that is certain to put them at the technology forefront of exchanges
in the Middle East,' Lars Ottersgard, Senior Vice President, Market Technology,
NASDAQ OMX. 'The upgrade to X-stream technology will equip ISX with a
sophisticated and robust trading platform that increases investor involvement
both in the Middle East and internationally.'
In less than a decade, traded shares in ISX increased almost 10-fold, to more
than 1.2 billion traded shares expected in 2013, while market capitalization
increased more than seven times over the same period to over $12,170 billion
USD in the first six months of 2013 alone.
'We are extremely proud to support ISX's positive development and their vision
to provide a well-recognized marketplace in the region,' said Michele Carlsson,
Head of Business Development, Middle East and Africa, NASDAQ OMX. 'ISX recently
implemented one of the most successful IPOs in the Middle East and by upgrading
to our X-stream technology, ISX will be running a resilient market place that
will attract both Iraqi and international investors.'
NASDAQ OMX's X-stream technology is currently used by over 25 exchanges
globally.
About NASDAQ OMX:
The inventor of the electronic exchange, The NASDAQ OMX Group, Inc., fuels
economies and provides transformative technologies for the entire lifecycle of
a trade - from risk management to trade to surveillance to clearing. In the
U.S. and Europe, we own and operate 26 markets, 3 clearinghouses and 5 central
securities depositories supporting equities, options, fixed income,
derivatives, commodities, futures and structured products. Able to process more
than 1 million messages per second at sub-40 microsecond speeds with 99.99%
uptime, our technology drives more than 70 marketplaces in 50 developed and
emerging countries into the future, powering 1 in 10 of the world's securities
transactions. Our award-winning data products and worldwide indexes are the
benchmarks in the financial industry. Home to approximately 3,400 listed
companies worth $6 trillion in market cap whose innovations shape our world, we
give the ideas of tomorrow access to capital today. Welcome to where the world
takes a big leap forward, daily. Welcome to the NASDAQ OMX Century. To learn
more, visit www.nasdaqomx.com. Follow us on Facebook (
http://www.facebook.com/NASDAQ) and Twitter (http://www.twitter.com/nasdaqomx).
(Symbol: NDAQ and member of S&P 500)
About Iraq Stock Exchange
Iraq stock exchange (ISX) was established according to law 74 on April 18, 2004
and began trading on June 24, 2004, ISX held its 1st session on June 24th 2004
using manual trading, written auction on white boards, orders get executed in
the specified units either partially or in full, priorities are given to
highest price in the buy orders and the lowest prices in the sell orders, since
24th Jun 2004 till 19th April 2009.
To enable companies to trade electronically, Electronic trading was introduced
to the market for the first time in the history of Iraq by using NASDAQ OMX
platform in April 2009, The White boards have been replaced by Electronic
trading workstations. ISX operates 5 trading sessions on Sunday, to Thursday
every week.
According to the regulation rules, ISX tasks include: Regulating, controlling,
disclosing, and launching continuous trading on listed company's shares, in
addition to controlling both trading operations and activities of Brokerage
Companies financial solvency.
Cautionary Note Regarding Forward-Looking Statements
The matters described herein contain forward-looking statements that are made
under the Safe Harbor provisions of the Private Securities Litigation Reform
Act of 1995. These statements include, but are not limited to, statements about
X-stream and NASDAQ OMX's other products and offerings. We caution that these
statements are not guarantees of future performance. Actual results may differ
materially from those expressed or implied in the forward-looking statements.
Forward-looking statements involve a number of risks, uncertainties or other
factors beyond NASDAQ OMX's control. These factors include, but are not limited
to factors detailed in NASDAQ OMX's annual report on Form 10-K, and periodic
reports filed with the U.S. Securities and Exchange Commission. We undertake no
obligation to release any revisions to any forward-looking statements.
NDAQG
CONTACT: NASDAQ OMX Media Contact:
Ryan Wells
(212) 231-5541 (office)
(646) 581-4286 (mobile)
Ryan.Wells(at)NASDAQOMX.com
Iraq Stock Exchange Media Contact:
Jimmy Afham Toma
+ 964 7703 995 610 (office)
info-isx(at)isx-iq.net
News Source: NASDAQ OMX
28.06.2013 Dissemination of a Corporate News, transmitted by DGAP -
a company of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
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Language: English
Company: The NASDAQ OMX Group, Inc.
United States
Phone:
Fax:
E-mail:
Internet:
ISIN: US6311031081
WKN:
End of Announcement DGAP News-Service
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