21 August 2017
Find out more

OMX wins Indonesia Stock Exchange deal

22 January 2008  |  4744 views  |  0 OMX

The Indonesia Stock Exchange (IDX) has contracted with Sweden's OMX for the supply and implementation of a new trading platform.

OMX says its technology will modernise IDX's trading infrastructure and integrate systems used at Jakarta and Surabaya stock exchanges - which recently merged to form IDX - on a single platform

The new integrated platform will allow operation of all asset classes on a single platform, says OMX. IDX will be able to support trading of all its offered products, including equities, derivatives, mutual funds and bonds.
Erry Firmansyah, president director at IDX, says: "From the tender process, we appointed OMX as the technology partner, as OMX was able to deliver the three criteria we requested in the tender; technical aspect, implementation risk, and price."

The OMX system is scheduled to be operational at IDX by the end of 2008.

Commenting on the deal, Markus Gerdien, president, market technology, OMX, says: "The merger of two significant stock exchanges will create an increased demand in terms of trading efficiency, speed and volume, and we look forward to supporting IDX in meeting these challenges."

News of the deal comes just days after OMX reported a deal to supply a trading and clearing platform to the Bombay Stock Exchange (BSE).

In recent months OMX has won a number of contracts with exchanges around the world. Earlier this month the Swedish group reported a new deal with Agora-X, a new US marketplace for over-the-counter (OTC) commodity contracts. Towards the end of last year OMX also won deals with Tokyo Commodity Exchange, Singapore Commodity Exchange, Singapore Exchange, Bolsa de Valores de Colombia and DEX, a new derivatives exchange that is being launched in Canada.

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

OMX signs Bombay Stock Exchange

OMX signs Bombay Stock Exchange

11 January 2008  |  5568 views  |  0 comments
OMX inks trading technology deal with OTC commodity marketplace Agora-X

OMX inks trading technology deal with OTC commodity marketplace Agora-X

08 January 2008  |  4653 views  |  0 comments
NZX and OMX to launch new carbon trading markets in 2008

NZX and OMX to launch new carbon trading markets in 2008

21 December 2007  |  7163 views  |  0 comments
OMX reports Tocom trading technology contract

OMX reports Tocom trading technology contract

19 December 2007  |  4312 views  |  0 comments
Singapore Commodity Exchange signs for OMX trading technology

Singapore Commodity Exchange signs for OMX trading technology

30 November 2007  |  5933 views  |  0 comments
OMX reports SGX clearing system deal

OMX reports SGX clearing system deal

27 November 2007  |  7968 views  |  0 comments
OMX reports Dex trading technology deal

OMX reports Dex trading technology deal

02 October 2007  |  3275 views  |  0 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit www.worldpaymentsreport.comdownload the paper nowvisit www.dorsum.eu

Top topics

Most viewed Most shared
Mobile contactless spending accelerating in UKMobile contactless spending accelerating i...
10495 views comments | 24 tweets | 23 linkedin
Norwegian banks and startups form fintech clusterNorwegian banks and startups form fintech...
8772 views comments | 19 tweets | 23 linkedin
hands typing furiouslyWhy Is Risk Analytics Important?
8624 views 0 | 3 tweets | 1 linkedin
RBS to bring Silicon Valley to EdinburghRBS to bring Silicon Valley to Edinburgh
8441 views comments | 10 tweets | 7 linkedin
Barclays pairs banking data with third party apps for SmartBusiness DashboardBarclays pairs banking data with third par...
7952 views comments | 17 tweets | 16 linkedin

Featured job

Competitive
New York, NY - USA (some flexibility on location)

Find your next job