Bursa Malaysia selects NASDAQ OMX to power trading platform
Date: Dec 13, 2012
Categories: Markets & Exchanges, Technology & Operations
Keywords: Bursa Malaysia, NASDAQ OMX
December 12th 2012 – Bursa Malaysia and NASDAQ OMX Group, Inc., today announced that Bursa Malaysia has selected NASDAQ OMX to power its securities market trading through NASDAQ OMX’s industry leading technology, X-Stream INET.
The new platform will handle trading of equities, fixed income, ETF, funds and issuer warrants for Bursa Malaysia. X-Stream INET’s system robustness and speed will drive exchange innovation for Bursa Malaysia to attract a variety of market participants and create innovative products and services to match international demand. The deployment is scheduled during the first quarter of 2014. NASDAQ OMX was selected in competition with a number of global exchange technology providers.
Dato’ Tajuddin Atan, Chief Executive Officer, Bursa Malaysia said “As we aimed to complete a major technology refresh for our securities market and build on our overall strategic business roadmap, we wanted a trading technology that would satisfy our demands and desire for growth. Selecting NASDAQ OMX’s X-Stream INET was a sign of this commitment to our customers and our growth towards becoming the centre of ASEAN's multinational marketplace. We feel we have chosen the right partner for our future and look forward to a successful implementation of X-Stream INET.”
Anna Ewing, Executive Vice President and CIO, NASDAQ OMX, said: “We are happy to be partnering with one of the leading exchanges in Asia. Bursa Malaysia is both an attractive IPO destination and a hub for Islamic finance. As Bursa Malaysia looks to advance its growth strategy and expand on its vision of delivery industry-leading products and services, we’re dedicated to supporting its endeavours through our technology.”
NASDAQ OMX’s X-stream trading technology is currently used by 22 exchanges globally and has recently been named the world’s fastest trading system by independent latency measurement specialists.
Re-disseminated by The Asian Banker