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New Zealand Market goes live with Nasdaq OMX trading platform

16 November 2012  |  1517 views  |  0 Source: Nasdaq OMX

The New Zealand Market (NZX) has launched Nasdaq OMX's (Nasdaq:NDAQ) world recognized trading platform X-stream, paving the way for a new era in global connectivity and product innovation going forward.

The go-live is the result of a successful intensive, seven-month project involving NZX and NASDAQ OMX. NASDAQ OMX was originally selected in competition with a number of global exchange technology providers.

X-stream complies with international standards and is capable of handling equities, debt, derivatives, commodities, ETFs and a range of other instruments on one single platform. The multi asset-trading system also provides flexibility in the creation of new products allowing for further innovation and growth in New Zealand's markets, including dairy derivatives and the launch of equity derivatives in 2013.

Deployed in 22 markets, X-stream is one of the most widely operated trading systems in the world. The technology enhances NZX's global connectivity network and ensures NZX remains current with trading platform technologies and trends facilitating overseas interest and demand.

"Working with an innovative, market-focused trading platform partner such as NASDAQ OMX, with its flexible X-stream platform, means we will acquire both the product, and the knowledge set, to innovate with our market offerings, while enhancing our global connectivity capabilities for the successful NZX Dairy Futures market," said David Godfrey, Head of Information Technology, NZX.

"We are very pleased to be supporting NZX through our X-stream technology, one of the most sophisticated technologies available. New Zealand's capital markets are some of the most dynamic in the world, and we feel NZX is in an even stronger position to continue its solid growth and attract new foreign and domestic investors through operating our technology," said Lars Ottersgård, Senior Vice President of Market Technology, NASDAQ OMX. 

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