STOCKHOLM, Sweden, April 27, 2012 (GLOBE NEWSWIRE) -- The NASDAQ OMX Group, Inc (Nasdaq:NDAQ) announces that it has entered an agreement with The Nigerian Stock Exchange (NSE) to upgrade their cash equities trading platform. Under the terms of the agreement NASDAQ OMX will replace NSE's existing NASDAQ OMX platform (Horizon) with one powered by its proven X-stream technology. The upgrade is expected to be rolled out at NSE in the first half of 2013.
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The upgrade to X-stream technology will provide NSE, one of the largest exchanges in Africa, with a widely deployed high-end, multi-asset trading platform that complies with international standards. The migration to X-stream is a step in NSE's ambition to become a West African hub able to host and facilitate other regional markets. NASDAQ OMX has been delivering trading technology to NSE since 1997.
Oscar Onyema, CEO at NSE said: "Through our commitment to world-class technology we are setting the foundation for developing NSE to a West African financial hub. Moreover, with our new advanced platform in place we can broaden our product-base as well as build the capacity to offer hosting services to other exchanges in the region."
Lars Ottersgard, Senior Vice President NASDAQ OMX Market Technology commented: "We congratulate NSE on their commitment to a trading platform that is certain to put them at the technology forefront of exchanges in Africa. The upgrade to X-stream technology will equip NSE with a sophisticated and functionality rich trading platform that acts to increase investor awareness both in Africa and internationally."
About NASDAQ OMX
The inventor and transformer of the electronic exchange, The NASDAQ OMX Group, Inc., fuels economies with revolutionary technologies for the entire lifecycle of a trade - from risk management to trade to surveillance to clearing. In the US and Europe, we own and operate 24 markets, 3 clearinghouses and 6 central securities depositories supporting equities, options, fixed income, derivatives, commodities, futures and structured products. Able to process more than 1 million messages per second at sub-80 microsecond speeds with 99.999% uptime, our technology drives more than 70 exchanges in 50 developed and emerging countries into the future, powering 1 in 10 of the world's securities transactions. Our award-winning data products and worldwide indexes are the benchmarks in the financial industry. Home to 3,400 listed companies worth $5.1 trillion in market cap whose innovations shape our world, we give the ideas of tomorrow access to capital today. Welcome to where the world takes a big leap forward, daily. Welcome to the NASDAQ OMX Century. NASDAQ OMX Nordic and NASDAQ OMX Baltic are not legal entities but describe the common offering from NASDAQ OMX exchanges in Helsinki, Copenhagen, Stockholm, Iceland, Tallinn, Riga, and Vilnius.
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's 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.
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CONTACT: NASDAQ OMX media contact: Carl Norell +46 8 405 66 39 email@example.com
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