Under the terms of the agreement, the ADX renews its contract with Nasdaq OMX for a further five years and commits to upgrade to a trading platform powered by Nasdaq OMX’s X-stream technology. The upgrade is expected to be rolled out at the ADX in the second half of 2013.

The upgrade will provide the ADX with a proven, functionality-rich, multi-asset trading platform that complies with international standards and policies.

“Nasdaq OMX has consistently delivered reliable trading technology to the ADX for over a decade and now we look forward to taking the next step in our partnership. Our upgrade to Nasdaq OMX’s X-stream technology will enable significant performance and functionality capabilities that create advantages for both regional and international investors,” ADX director-general Rashed Al Baloushi said.

— business@khaleejtimes.com