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NZX goes live with X-stream trading platform

29 October 2012  |  972 views  |  0 Source: NZX

Today NZX successfully launched its X-stream trading platform, heralding a new era for New Zealand markets.

The go-live is the result of an intensive, seven-month project involving NZX, US-based technology supplier NASDAQ OMX and market participants.

The NASDAQ OMX platform can handle trading of equities and derivatives securities plus a range of other instruments, paving the way for further innovation and growth in New Zealand's markets.

NZX CEO Tim Bennett said, "In an age where the speed of communications is measured in microseconds, being able to connect and trade on New Zealand's markets from anywhere in the world is key to our remaining relevant and competitive in international markets.

"This world class trading system will enable NZX to launch new products quickly and cost effectively, and provides better connectivity options for offshore investors," said Bennett.

NASDAQ OMX's X-stream technology is deployed in 22 markets worldwide. It is capable of handling equities, derivatives, commodities, ETFs and a range of other instruments on one single platform.

NZX Head of Technology David Godfrey said, "The smooth running of what has been a highly complex project was assisted by the input and co-operative effort of our Market Participants, who worked alongside us to achieve a timely and orderly transition from the old system to the new.

"We are grateful for their support, and look forward to using the new platform to further improve the performance of our markets," said Godfrey.

Tim Bennett said, "New Zealand's pre-eminence in dairy futures trading has paved the way for this country to become the home base for other commodities. Now we have the technological capability to support further market developments into the future." 

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