NEW YORK and DHAKA, Bangladesh, March 23, 2014 (GLOBE NEWSWIRE) -- Dhaka Stock Exchange (DSE) and NASDAQ OMX (Nasdaq:NDAQ) have signed an agreement for NASDAQ OMX to deliver its industry leading trading technology, X-stream INET, to Dhaka Stock Exchange, as the exchange company looks to expand its business regionally and globally, and boost the power and resiliency of its trading system.
"It is an honor to have been selected by Dhaka Stock Exchange, the premier exchange in Bangladesh, to provide it with our world leading trading system, X-Stream INET," said Robert Fröjd, Managing Director and Regional Manager, South Asia, Southeast Asia and Pacific, NASDAQ OMX. "We look forward to a long and successful relationship with Dhaka Stock Exchange and supporting its business development plans in this fast-growing and dynamic part of the world."
To meet today's increasing investor activity in Bangladesh, DSE—which has 250 brokering intermediaries, around four million CSD investor accounts and having processed around 400,000 equity trades per day—is embarking upon its next stage of development of which upgrading the trading system is an integral part. Prior to selecting NASDAQ OMX, the DSE leadership led a comprehensive and rigorous process of consultation of all stakeholders including presentations to the entire broking community and the Bangladesh Securities and Exchange Commission.
"We are pleased to partner with NASDAQ OMX in upgrading our trading platform after a very extensive selection process," said Professor Swapan Kumar Bala, FCMA, Managing Director, Dhaka Stock Exchange. "As a pivotal player in the economic development of the country, DSE is dedicated to providing the world's finest trading technology to our marketplace and all the participants within."
NASDAQ OMX's exchange technology, including trading, clearing, CSD and market surveillance systems, is in operation in over 80 marketplaces across USA, Europe, Asia, Australia, Africa and Middle East.
About NASDAQ OMX
NASDAQ OMX (Nasdaq:NDAQ) is a leading provider of trading, exchange technology, information and public company services across six continents. Through its diverse portfolio of solutions, NASDAQ OMX enables customers to plan, optimize and execute their business vision with confidence, using proven technologies that provide transparency and insight for navigating today's global capital markets. As the creator of the world's first electronic stock market, its technology powers more than 80 marketplaces in 50 countries, and 1 in 10 of the world's securities transactions. NASDAQ OMX is home to more than 3,200 listed companies with a market value of over $8 trillion and more than 10,000 corporate clients. To learn more, visit www.nasdaqomx.com.
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The matters described herein contain forward-looking statements that are made under the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements include, but are not limited to, statements about NASDAQ OMX, and its products and offerings. We caution that these statements are not guarantees of future performance. Actual results may differ materially from those expressed or implied in the forward-looking statements. Forward-looking statements involve a number of risks, uncertainties or other factors beyond NASDAQ OMX's control. These factors include, but are not limited to factors detailed in NASDAQ OMX's annual report on Form 10-K, and periodic reports filed with the U.S. Securities and Exchange Commission. We undertake no obligation to release any revisions to any forward-looking statements.
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Source:The NASDAQ OMX Group, Inc.