press center press release

OMX signs contract with Dubai Financial Market to deliver new trading system

Published

OMX signs contract with Dubai Financial Market to deliver new trading system OMX, a leading expert in the exchange industry, has signed a contract with Dubai Financial Market, DFM, in the United Arab Emirates, to provide a new trading system in order to enhance DFMs IT infrastructure. Under the terms of the contract, OMX will be the system provider for the license, customization, implementation and support of DFMs new trading system. DFM operates one of the premium stock markets in the Middle East region and have experienced high growth over the last few years. To be chosen to deliver the trading technology to Dubai Financial Market is an acknowledgement of our position as a leading global provider of market technology. Equally as important, it is an opportunity to strengthen our position in the Middle East, which is highly interesting growth region for OMX, said Magnus Böcker, President and CEO, OMX. This is the continuation of a technology partnership to further develop both parties and in particular contributing to develop the financial markets in Dubai. The new trading platform is part of our overall strategy to continuously invest and enhance our IT infrastructure. DFM has grown from strength to strength 2000 trades a day five years ago to 20,000 trades a day currently. Taking cue from past experience, DFM expects trade volumes to grow exponentially in the near future and our IT investments are planned for the anticipated growth, said Essa Kazim, Director General, DFM: The new fully integrated trading platform will enable DFM to take the next big leap in modernizing the stock market and improving its performance. For more information, please contact: Niclas Lilja, VP Corporate Communications +46 8 405 63 95 About OMX | OMX is a leading expert in the exchange industry. Through the Nordic Exchange in Copenhagen, Stockholm, Helsinki, Riga, Tallinn and Vilnius, OMX offers access to approximately 80 percent of the Nordic and Baltic securities market. Our integrated technology solutions span the transaction chain enabling efficient securities transactions for exchanges, clearing organizations, central securities depositories and other financial institutions around the world. OMX is listed on the Nordic Exchange in Stockholm, Helsinki and Copenhagen. For more information please visit www.omxgroup.com. About Dubai Financial Market | Dubai Financial Market, was established as a public institution having its own independent corporate body. DFM is operating as a secondary market for trading of securities issued by public shareholding companies, bonds issued by the Federal Government or any of the Local Governments and public institutions in the country, units of investment funds and any other financial instruments, local or foreign, which are accepted by the Market. The Market commenced operations on March 26, 2000. PDF

In This Story

Nasdaq Press Center

Read the latest press releases, request a press kit, and get in touch with our press team.

learn more