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Abu Dhabi Securities Exchange (ADX) announced recently that it has begun testing the new trading system "X-stream", a high performance exchange trading system that offers multiple functionalities and maximum flexibility to cater to the needs of ADX.
The mock session conducted by ADX is to ensure the readiness of the brokerage firms and their internal systems to deal with the new trading platform “X-stream”, as well as to recognize the readiness of communications network of the companies participating in the mock session.
ADX announced that the mock session was successful and it will conduct two more mock sessions in December 2013 and January 2014. The tests come in preparation for the official launch of the new trading system "X-stream" by ADX at the end of January 2014.
The system is designed to support the increasing volume of trading on ADX as well as the simultaneous trading of multiple products including equities, debt, ETFs, futures, forwards, and options. X-stream will allow ADX to take a big step towards modernizing the stock market and improving its performance. In its endeavor to keep abreast with the latest technological advancements and best serve its stakeholders.
The upgrade to X-stream will provide ADX with a widely deployed high-end, multi-asset trading platform that complies with international standards. The migration to “X-stream” is a step in ADX’s ambition to become a capital market hub, able to host and facilitate other regional markets.
Mr. Ghanem Hamad Al Dhaheri, Deputy Chief Executive of ADX, commented on the matter saying:” We are committed to becoming one of the most innovative exchanges in the region and across the world. Upgrading our trading technology and continuing our partnership will assist us to become a financial center for more regional and global businesses. We aim towards the development of new platforms for settlement and trading, which is in line with the economic vision for the Emirate of Abu Dhabi 2030 towards the promotion of sustainable development in the emirate.”
