AtosEuronext wins Dubai exchange contract

AtosEuronext wins Dubai exchange contract

AtosEuronext has won a contract to develop an automated trading platform for The Dubai International Financial Exchange (DIFX), which is due to launch in September.

Last year the exchange begun exclusive negotiations with Euronext, AtosEuronext, LCH.Clearnet and Euroclear for the building of the component parts for the new electronic marketplace.

AtosEuronext says it will provide DIFX with a system based on its NSC electronic trading platform, which was originally developed for the Paris Bourse and is currently used in more than 15 exchanges around the world.

Lynton Jones, chairman of the DIFX, says: "This agreement is a big step forward. It keeps us on course to become a major new securities market for international issuers, brokers and investors and the international exchange of choice in the Middle East."

The DIFX is set up as part of the Dubai International Financial Centre (DIFC), the Dubai government's initiative to create a major financial hub for the Middle East region which opened in September 2004.

The exchange is expected to launch on 26th September and will initially focus on the trading of equities and bonds.

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