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New trading engine goes live at ADX
23 April 2014
Abu Dhabi exchange upgrade completed
Abu Dhabi Securities Exchange (ADX) has gone live with X-stream
Trading technology following the completion of an upgrade that
commenced in 2012.
This development is the latest step in ADX's ambition to
introduce new asset classes, support its market expansion and
maintain a leading position in the exchange industry in the
region. The agreement also extends the existing management
contract with Nasdaq OMX for a further five years.
"Making X-stream Trading available for our investors, brokers
and other stakeholders takes us to a completely new operational
level and prepares the way for the next stage of our
development," said Rashed Al Baloushi, CEO ADX. "It is the
culmination of a vast amount of work done by ADX and our
partners at Nasdaq OMX to achieve a faultless upgrade."
The new trading platform will improve ADX's trading performance
and transparency and ensure low latency pre-trade risk
management checks, allow faster back office reconciliation of
transactions and give ADX the ability to handle an unlimited
number of indices. In addition, ADX will continue to leverage
the existing suite of market surveillance and central security
depository technologies provided and supported by Nasdaq OMX
ADX is also the first exchange in the region to go live with
the in-memory vetting model of X-stream Trading.
"This upgrade marks an important milestone in Nasdaq OMX's
nearly 15-year relationship with ADX," said Lars Ottersgard,
senior vice president market technology Nasdaq OMX.