Abu Dhabi Securities Exchange ( ADX ) has gone live with X-Stream Trading, developed by Nasdaq OMX, on Thursday.
The agreement for the provision of X-Stream Trading was signed between ADX and Nasdaq OMX in May 2012. The final test of the system was completed successfully by ADX on Saturday in the presence of Nasdaq OMX.
“This is a proud moment for us. Making X-Stream available for our investors, brokers and other stakeholders takes us to a completely new operational level and prepares the way for the next stage of our development,” said Rashed Al Baloushi, CEO of ADX .
He said the upgraded platform will handle not only the trading of equities but it will also support market making activity as well as transactions of fixed income and ETF instruments, while providing the scalability to allow additional instruments to be added at a later date. The new platform will allow ADX to handle an “unlimited number of indices.”
The implementation of X-Stream Trading coincides with the introduction of a new communication system - FIX 5.0 - between ADX and brokers which allows greater two way communication with the new trading system.
ADX is the first exchange in the region to go live with the in-memory vetting model of X-Stream trading.
Source: http://www.zawya.com/story/Abu_Dhabi_bourse_goes_live_with_XStream-GN_17042014_180419/
