Dubai Financial Market (DFM) has completed migration to its new trading platform from NASDAQ OMX. The trading platform from NASDAQ OMX replaces DFM’s previous system, also from NASDAQ OMX, and is designed to create efficient marketplace and trading experience for DFM members. The system enables trading of cash equities with potential for derivatives products.
Lars Ottersgard, senior vice president of market technology at NASDAQ OMX, said: “DFM’s system launch marks an important day in Dubai’s exchange history, and will act as a driver of the development of the regional marketplace. Through its system upgrade DFM will be able to offer its members significant capacity and latency advantages and the ability to more quickly and easily introduce new products.”
Hassan Al Serkal, senior vice president & COO of operations division at Dubai Financial Market, said: “We are very pleased to have rolled out a high-end trading platform that we are confident will act as a springboard to a more efficient, liquid and thus attractive market. NASDAQ OMX’ technology track record in the Middle East speaks for itself and we look forward to benefiting from a system that will put our exchange at the technology forefront.”
