Under the terms of the agreement, IRGiT (Izba Rozliczeniowa Gield Towarowych S.A.) or the Warsaw Commodity Clearing House, will replace its existing legacy engine (Condico Clearing) with one powered by X-stream technology. The upgrade is expected to be rolled out by mid-2016.

The new technology upgrade will give IRGiT improved functionality, offering scalability which will offer opportunities to expand its clearing capabilities to a variety of other asset classes, including commodities.

"We are proud to support IRGiT's post-trade development and their focus on providing a high performance, reliable clearing house to its market players," said Lars Ottersgard, Executive Vice President, Market Technology, Nasdaq. "With this new technology upgrade, IRGiT is in strong position to execute on their expansion vision, and Nasdaq looks forward to continuing this journey with them."

Nasdaq's exchange technology, including trading, clearing, CSD and market surveillance systems, is in operation in over 100 marketplaces across USA, Europe, Asia, Australia, Africa and Middle East.