DGAP-News: Abu Dhabi Securities Exchange (ADX) Goes Live With New Trading Engine Powered by NASDAQ OMX


DGAP-News: The NASDAQ OMX Group, Inc. /
Abu Dhabi Securities Exchange (ADX) Goes Live With New Trading Engine
Powered by NASDAQ OMX

23.04.2014 / 11:01

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NEW YORK and ABU DHABI, 2014-04-23 11:01 CEST (GLOBE NEWSWIRE) --
Abu Dhabi Securities Exchange (ADX) and NASDAQ OMX Group, Inc. (Nasdaq:NDAQ),
today announced that ADX has gone live with X-stream Trading technology. The
upgrade, started in 2012, provides ADX with the world's most widely deployed,
internationally compliant, multi-asset trading platform. This milestone is a
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. 

'This is a proud moment for us,' said Rashed Al Baloushi, CEO of ADX. '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. This go-live launch is the culmination of a vast
amount of work done by ADX and our partners at NASDAQ OMX to achieve a
faultless upgrade. This is not just about the adoption of world class
technology - it is about the aspirations of ADX to be a world class window for
investors into the opportunities that Abu Dhabi offers.' 

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 (CSD) technologies provided and supported by NASDAQ OMX since 2000,
the year of ADX's inception. 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. 'ADX's deployment of our X-stream Trading technology
underscores their confidence in the technology, as they plan for the next
successful stage of their development. It is an honor to support ADX, which is
at the center of their regional marketplace.' 

About Abu Dhabi Securities Exchange

The Abu Dhabi Securities Exchange (ADX) was established by Local Law No. (3) Of
the year 2000, the provisions of which make the Exchange a legal entity with
autonomous status, independent finance and management. The law also provides
the ADX with the necessary supervisory and executive powers to exercise its
functions. ADX began operations on November 15th 2000. 

ADX has 67 listed securities. Those securities include 65 public joint stock
companies, 1 Exchange Traded Fund (ETF) and 1 convertible bond. The ADX had a
total market capitalization of AED 449 billion (USD 122 billion) as at the end
of 2013. The Exchange has signed a number of agreements with major financial
institutions to provide custody services, including the National Bank of Abu
Dhabi (NBAD), HSBC, Standard Chartered, Deutsche Bank, and Citi. 

In 2013, the stock exchanges of the U.A.E Markets were upgraded to 'Emerging
Market' status by both MSCI index (Morgan Stanley Capital International) and
S&P Dow Jones, thus greatly increasing the likelihood of inward global
investment flows. 

In alignment with the Abu Dhabi Government's Economic Vision 2030, ADX aspires
to become the leading stock exchange in the region by leading the development
of the UAE capital market through a well-regulated marketplace in a lawful
environment that ensures integrity, transparency and disclosure. 

About NASDAQ OMX

NASDAQ OMX (Nasdaq:NDAQ) is a leading provider of trading, exchange technology,
information and public company services across six continents. Through its
diverse portfolio of solutions, NASDAQ OMX 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 80 marketplaces in 50 countries, and 1 in 10 of the
world's securities transactions. NASDAQ OMX is home to more than 3,200 listed
companies with a market value of over $8 trillion and more than 10,000
corporate clients. To learn more, visit www.nasdaqomx.com. 

Cautionary Note Regarding Forward-Looking Statements

The matters described herein contain forward-looking statements that are made
under the Safe Harbor provisions of the Private Securities Litigation Reform
Act of 1995. These statements include, but are not limited to, statements about
NASDAQ OMX, and its products and offerings. We caution that these statements
are not guarantees of future performance. Actual results may differ materially
from those expressed or implied in the forward-looking statements.
Forward-looking statements involve a number of risks, uncertainties or other
factors beyond NASDAQ OMX's control. These factors include, but are not limited
to factors detailed in NASDAQ OMX's annual report on Form 10-K, and periodic
reports filed with the U.S. Securities and Exchange Commission. We undertake no
obligation to release any revisions to any forward-looking statements. 

NDAQG


         CONTACT: NASDAQ OMX Media Contact:
         
         Ryan Wells
         ryan.wells@nasdaqomx.com
         +1 (212) 231-5541 (office)
         +1 (646) 581-4286 (mobile)
         
         Abu Dhabi Securities Exchange Media Contact:
         
         Abdul Rahman Saleh Al Khateeb
         alkhateeba@adx.ae
         +9712-6128774 (office)
         +97150-6689733 (mobile)
News Source: NASDAQ OMX


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Language:    English                     
Company:     The NASDAQ OMX Group, Inc.  
 
 
             United States               
ISIN:        US6311031081                
 
 
End of News    DGAP News-Service  
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