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Boerse Stuttgart Launches New Exchange System, Xitaro, Powered by Nasdaq

NEW YORK and STUTTGART, Germany, Oct. 7, 2015 (GLOBE NEWSWIRE) -- Nasdaq (Nasdaq:NDAQ) and Boerse Stuttgart have officially announced that Boerse Stuttgart, Germany's leading exchange for retail investors, has gone live on Genium INET. The system named Xitaro will be used for trading of all asset classes including equities, fixed income, exchange traded products and securitized derivatives. In addition to delivering the exchange system, Nasdaq is also providing Boerse Stuttgart with hosting and technical operations services.

"Especially at times of intense competition, exchanges need to maintain a broad level of investment in their systems," said Dr Christoph Boschan von dem Bussche, Member of the Management Board of Boerse Stuttgart GmbH. "That is the only way to ensure stability and quality in securities trading. Thanks to Xitaro, we will be able to speed up the implementation of new ideas and their introduction to the market. In line with our objectives, we will continue to be an innovation leader for retail investors."

"We are very proud that Boerse Stuttgart has chosen to base its new exchange system on Nasdaq's Genium INET Trading system," said Lars Ottersgård, Executive Vice President, Market Technology, Nasdaq. "The joint project has been a tremendous success with the new system launching on schedule. We look forward to continuing to support Boerse Stuttgart's growth to expand beyond its current position with private investors."

Nasdaq's exchange technology, including trading, clearing, CSD and market surveillance systems, is in operation in over 100 marketplaces across North and Latin America, Europe, Asia, Australia, Africa and the Middle East.

About Nasdaq

Nasdaq (Nasdaq:NDAQ) is a leading provider of trading, clearing, exchange technology, listing, information and public company services across six continents. Through its diverse portfolio of solutions, Nasdaq 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 70 marketplaces in 50 countries, and 1 in 10 of the world's securities transactions. Nasdaq is home to more than 3,600 listed companies with a market value of approximately $9.6 trillion and more than 10,000 corporate clients. To learn more, visit: nasdaq.com/ambition or business.nasdaq.com.

About Boerse Stuttgart

As the leading exchange for securitised derivatives in Europe and for corporate bonds in Germany, Boerse Stuttgart is Europe's leading exchange for retail investors. In Stuttgart investors can efficiently trade equities, securitised derivatives, debt instruments, investment fund units and participation certificates at reasonable prices. Boerse Stuttgart is also the leading German floor-trading exchange, with around 36 percent of the order book turnover. With a trading volume of around EUR 88 billion across all asset classes in 2014, Boerse Stuttgart is ranked tenth among European stock exchanges.

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CONTACT: Media Contact Ryan Wells (ryan.wells@nasdaq.com or +44 (0) 7809 596 390)

Source: Nasdaq