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The NASDAQ OMX Group, Inc. (NASDAQ:NDAQ) today reported that Dubai Financial Market (DFM) has successfully completed migration to its new trading platform from NASDAQ OMX. DFM's system launch, which took place on October 29, received immediate positive acknowledgement from participating members and the investing public.
The trading platform from NASDAQ OMX replaces DFM's previous system, also from NASDAQ OMX, and is designed to create a more efficient marketplace and trading experience for DFM members. The system enables trading of cash equities with potential for derivatives products.
Lars Ottersgård, Senior Vice President NASDAQ OMX Market Technology said, “DFM's system launch marks an important day in Dubai's exchange history, and will act as a driver of the development of the regional marketplace. Through its system upgrade DFM will be able to offer its members significant capacity and latency advantages and the ability to more quickly and easily introduce new products”.
Hassan Al Serkal, Senior Vice President & Chief Operations Officer (COO) - Operations Division, Dubai Financial Market said, “We are very pleased to have rolled out a high-end trading platform that we are confident will act as a springboard to a more efficient, liquid and thus attractive market. NASDAQ OMX' technology track record in the Middle East speaks for itself and we look forward to benefiting from a system that will put our exchange at the technology forefront”.
NASDAQ OMX has eleven customers in the Middle East region and earlier this year opened a regional office in Dubai driving new business endeavors and supporting existing customers in the Middle East, Africa and South Asia region.
