Nasdaq and Borse Dubai Sign Landmark Market Technology Deal
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A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/4a728bde-2fac-41b9-a613-0fa77c6c3f18
Under the agreement with Borse Dubai, the parent company of DFM, Nasdaq will deliver a new INET-powered, multi-asset trading technology engine (Nasdaq Matching Engine), a state-of-the-art cash equities clearing module (Nasdaq Packaged Clearing) and enable an in-memory-vetting model on the central securities depository (CSD) solution, which will increase performance, speed and resiliency, all under the new Nasdaq Financial Framework architecture. This infrastructure renovation is expected to be completed by early 2019 and will pave the way for various enhancements in DFM, including central counterparty (CCP) clearing.
"Since its inception, Borse Dubai has always been committed to employ the most advanced technologies of financial markets, which positioned DFM at the forefront of the regional exchanges and further strengthened Dubai's leading position as an international capital markets hub," said His Excellency
The technology overhaul will support Borse Dubai's growth focus, including enhancing its post-trade services, boost efforts to attract domestic and international capital, and run cutting-edge technology based on international standards and best practices under local environment. This move also positively impacts Nasdaq Dubai, as most of the trading and post-trading functionalities of Nasdaq Dubai are executed through the common technology platform that it shares with DFM.
"We are honored to support Borse Dubai as they move to strengthen their market infrastructure with next generation trading and post-trade technology," said
"DFM is committed to investing in its infrastructure as part of its drive to provide innovative services to various market participants," said
Nasdaq's exchange technology, including trading, clearing, CSD and market surveillance systems, is in operation in over 85 marketplaces across the
About Borse Dubai: Borse Dubai is the holding company for Dubai Financial Market (DFM) and Nasdaq Dubai. Borse Dubai was created
For Media Inquiries:
Atef Fathy
Vice President - Media & Public Relations
Dubai Financial Market
Tel: 04-3055334
Email: afathy@dfm.ae
About Nasdaq: Nasdaq (Nasdaq:NDAQ) is a leading provider of trading, clearing, exchange technology, listing, 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 85 marketplaces in 50 countries, and 1 in 10 of the world's securities transactions. Nasdaq is home to more than 3,700 listed companies with a market value of
For Media Inquiries:
Ryan Wells
ryan.wells@nasdaq.com
Direct: +44 (0) 20 3753 2231
Mobile: +44 (0) 7809 596 390
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Source: NASDAQ, Inc.News Provided by Acquire Media