Tuesday February 21 2017
News Source: Global Exchanges
Focus: Trading Systems and Technology
Type: General
Country: International
Link: http://ir.nasdaq.com/releasedetail.cfm?releaseid=1012570
Nasdaq and Bourse Dubai have announced a new landmark agreement to bolster the technological infrastructure of Dubai`s stock exchanges, Dubai Financial Market (DFM) and Nasdaq Dubai, and further improve post-trade practices. DFM has been a Nasdaq Market Technology client since its inception in 2000.
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.
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.
Click on the link above for further details.