The Nasdaq OMX Group, Inc. (Nasdaq:NDAQ) and Bolsa Electronica de Chile (BEC) today launched Nasdaq OMX's X-stream trading platform providing BEC with world-class trading technology and strengthening their ongoing strategic alliance for product development and global visibility.
BEC and its members will benefit from significant enhancements in performance, latency and throughput capacity by upgrading to NASDAQ OMX's proven exchange technology. BEC members will remain connected via the FIX trading protocol for a seamless system migration.
NASDAQ OMX technology is used by over 70 marketplaces in 50 countries. Operating with X-stream technology, BEC will be the most powerful trading venue in Chile as defined by performance, latency and throughput.
As part of the strategic alliance NASDAQ OMX is cooperating with BEC on their efforts to cross-list shares, develop new indices and expand existing indices. NASDAQ OMX is also completing a case study for BEC to create peso-dollar futures for trading on NASDAQ OMX exchanges. Additionally, NASDAQ OMX is providing global visibility resources for promotion and marketing to BEC which has now rebranded its logo to include "Powered by NASDAQ OMX."
"Today marks a significant event in BEC's history. Launching NASDAQ OMX's world renowned trading technology will not only open doors to new investors who wish to enter the Chilean marketplace, it also signals our dedication to long-term growth and our strategic vision," said Fernando Cañas, President of BEC Board of Directors. "We could not have chosen a better technology and advisory services provider to partner with."
"We are honored to support BEC with its growth initiatives and by powering its exchange through our X-stream technology. Together, BEC and NASDAQ OMX will build a community of participants, issuers and investors in Latin America who seek an efficient marketplace and innovative products," said Lars Ottersgard, Senior Vice President and Head of Market Technology, NASDAQ OMX.