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ADX close to trading platform update
27 January 2014
Third mock session completed on new system
Abu Dhabi Securities Exchange
Abu Dhabi Securities Exchange (ADX) has moved into the final stages of the process of replacing its current trading system Horizon with X-stream from Nasdaq OMX, having successfully completed its third mock session on the new trading system.
The mock session was designed to ensure the readiness of brokerage firms and their internal systems to deal with the new trading platform, as well as recognise the readiness of the communications networks of the companies participating in the session.
X-stream is a high performance exchange trading system that offers multiple functionalities and maximum flexibility to cater to the needs of ADX.
ADX CEO, Rashed Al Baloushi, said: "We are grateful to all the brokerage firms that participated in the testing process and we hope from the companies that did not participate to update their systems to conform to the new trading platform.”
Al Baloushi pointed out that the purpose of these tests is to validate the end to end information flow and avoid faults at a very early system phase. Such tests will provide the opportunity of making any required modifications in a timely manner.