Iraq Stock Exchange Launches Nasdaq's X-stream Trading Technology
(Thomson Reuters ONE) -
The Baghdad-Based Exchange is Now Operating the Most Widely Deployed Trading
Platform in the World
NEW YORK and BAGHDAD, Iraq, Nov. 11, 2014 (GLOBE NEWSWIRE) -- Nasdaq
(Nasdaq:NDAQ) and the Iraq Stock Exchange (ISX) announced today the successful
on-scheduled go-live of the X-stream Trading technology, which replaced the
existing Horizon platform. Nasdaq has delivered trading technology to ISX since
2007.
The X-stream Trading upgrade provides ISX with a widely deployed high-end,
multi-asset trading platform that complies with international standards. The new
technology provides ISX with improved performance and up to ten-fold the amount
of the capacity.
"This is an important milestone for our exchange, the companies of Iraq and
investors in the region and around the world," said Taha A. Abdulsalam,
CEO, Iraq Stock Exchange. "We were well-prepared for the transition to our new
trading platform, and the system has worked flawlessly since our go-live, which
was on schedule and budget. Our ambition to be the focal point of the region's
capital markets is certainly on par with this new technology launch that
benefits a vast amount of our key stakeholders."
"Nasdaq is proud to be supporting our long-term customer ISX in upgrading their
market infrastructure," said Lars Ottersgard, Executive Vice President, Head of
Market Technology, Nasdaq. "This is a very dynamic, important marketplace that
has the attention of the entire world. ISX has effectively shown their
leadership and focus in driving access to capital in Iraq. We look forward to
our continued collaboration with ISX as they grow and expand their business
further."
Nasdaq's exchange technology, including trading, clearing, CSD and market
surveillance systems, is in operation in over 100 marketplaces across USA,
Europe, Asia, Australia, Africa and Middle East.
About Nasdaq
Nasdaq (Nasdaq:NDAQ) is a leading provider of trading, exchange technology,
information and public company services across six continents. Through its
diverse portfolio of solutions, Nasdaq enables customers to plan, optimize and
execute their business vision with confidence, using proven technologies that
provide transparency and insight for navigating today's global capital
markets. As the creator of the world's first electronic stock market, its
technology powers more than 70 marketplaces in 50 countries, and 1 in 10 of the
world's securities transactions. Nasdaq is home to more than 3,500 listed
companies with a market value of over $8.8 trillion and more than 10,000
corporate clients. To learn more, visit www.nasdaq.com/ambition or
www.nasdaqomx.com.
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
24(th) 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
Nasdaq and its X-stream product. 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's control. These factors include, but are not limited to factors detailed
in Nasdaq'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 MEDIA CONTACT:
Ryan Wells
1.646.581.4286
ryan.wells(at)nasdaq.com
ISX MEDIA CONTACT:
Jimmy Afham Toma
964 7703 995 610
info-isx(at)isx-iq.net
This announcement is distributed by GlobeNewswire on behalf of
GlobeNewswire clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: The NASDAQ OMX Group, Inc. via GlobeNewswire
[HUG#1870393]
Unternehmensinformation / Kurzprofil:
Datum: 11.11.2014 - 13:01 Uhr
Sprache: Deutsch
News-ID 351521
Anzahl Zeichen: 5906
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Town:
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Kategorie:
Business News
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