Nasdaq, Inc. (Nasdaq:NDAQ) and the Bolsa de Valores de Colombia (BVC) today announced the extension of their current trading technology contract for an additional seven years.
This extension is part of BVC's ongoing initiative to continue strengthening its position in both the regional and international exchange arena.
The upgraded Nasdaq matching engine, X-stream INET Trading, further enhances the Colombian capital market by supporting new asset classes and providing more efficient MILA connectivity, which integrates the stock exchange markets of Chile, Colombia, México and Perú, as well as the throughput needed to manage the increase in volumes. X-stream Trading is deployed in more than 35 markets, making it the most widely used marketplace system in the world.
"By extending our relationship with Nasdaq, this is a vote of confidence to our investors, partners and region that we're serious about deploying the most powerful, robust trading technology in the world," said Juan Pablo Córdoba, President of BVC. "We're thrilled to be using a platform that allows us to conform to international standards thus making our equity and derivatives markets attractive to foreign and domestic investors, and continue to grow our business and Colombia's position as a financial capital in Latin America."
"We have supported BVC since 2007 and are thrilled to continue this relationship in the years to come," said Lars Ottersgård, Executive Vice President and Head of Market Technology, Nasdaq. "Over the past decade, BVC has rapidly grown its presence and prestige as one of the most formidable exchanges in the Americas. By providing the technology that fuels their trading engine we are greatly invested in the success, performance and resiliency of BVC and very proud of this ongoing accomplishment."
Nasdaq's exchange technology, including trading, clearing, CSD and market surveillance systems, is in operation in over 100 marketplaces across the Americas, Europe, Asia, Australia, Africa, the Middle East and the Caribbean.