Avenir Technology Limited (www.avenir-technology.com), a global developer of post-trade Financial Market Infrastructure solutions, has today announced that it will deploy its AvenirCSD functionality as part of an upgrade by the Palestine Exchange. Founded in 1995 and now home to 49 issuers, the exchange has offered a fully automated trading and post-trade solution since its inception and was the first exchange in the region to offer such functionality. (www.pex.ps)
Nihad Kamal, General Manager of the Palestine Exchange, commented:
“Partnering with Avenir Technology to integrate their modern Central Securities Depositary system into the exchange will deliver a significant service upgrade for all market participants. We have shown over the last 25 years that regional exchanges such as ours have genuine appeal amongst issuers and investors alike. However, in an increasingly globalized market, the trading experience they receive from an exchange such as ours must match the high quality they would find elsewhere. This deployment is part of a multi upgrades of the core systems and services which would position us well for delivering against our future growth ambitions.”
In 2022, trading values on the Palestine Exchange grew by 13% and the market is looking to deliver several key objectives in the year ahead, too. These include attracting new investor audiences, expanding the number of listings, and launching a range of new investment tools.
Stuart Turner, co-founder and director of Avenir Technology, added:
“In recent years, Avenir has built a solid reputation for working with high-growth exchanges across the globe, allowing them to benefit from cutting-edge post-trade infrastructure solutions. Investors have a justified expectation that systems will be both accurate and responsive at all times – this upgrade will ensure that the Palestine Exchange can continue to deliver against its goals as it looks towards its future growth ambitions.”
