WELLINGTON, New Zealand, Nov. 15, 2012 (GLOBE NEWSWIRE) -- The New Zealand Market (NZX) has launched NASDAQ OMX's (Nasdaq:NDAQ) world recognized trading platform X-stream, paving the way for a new era in global connectivity and product innovation going forward.
The go-live is the result of a successful intensive, seven-month project involving NZX and NASDAQ OMX. NASDAQ OMX was originally selected in competition with a number of global exchange technology providers.
X-stream complies with international standards and is capable of handling equities, debt, derivatives, commodities, ETFs and a range of other instruments on one single platform. The multi asset-trading system also provides flexibility in the creation of new products allowing for further innovation and growth in New Zealand's markets, including dairy derivatives and the launch of equity derivatives in 2013.
Deployed in 22 markets, X-stream is one of the most widely operated trading systems in the world. The technology enhances NZX's global connectivity network and ensures NZX remains current with trading platform technologies and trends facilitating overseas interest and demand.
"Working with an innovative, market-focused trading platform partner such as NASDAQ OMX, with its flexible X-stream platform, means we will acquire both the product, and the knowledge set, to innovate with our market offerings, while enhancing our global connectivity capabilities for the successful NZX Dairy Futures market," said David Godfrey, Head of Information Technology, NZX.
"We are very pleased to be supporting NZX through our X-stream technology, one of the most sophisticated technologies available. New Zealand's capital markets are some of the most dynamic in the world, and we feel NZX is in an even stronger position to continue its solid growth and attract new foreign and domestic investors through operating our technology," said Lars Ottersgård, Senior Vice President of Market Technology, NASDAQ OMX.
NZX is an integrated information, markets and infrastructure company. NZX's strategy is building and growing markets, with expertise applied across the securities, energy and agri-business sectors. NZX operates the securities, derivatives and energy markets in New Zealand, builds and maintains the infrastructure on which they operate, and provides a range of information and data that supports market growth and development on a global scale. NZX owns a suite of securities information businesses, exchange traded fund provider Smartshares, and is a 50% owner of share registry Link Market Services. To learn more, visit www.nzxgroup.com. Follow us on Twitter (https://twitter.com/NZXGroup). (Symbol: NZX and member of the NZX50)
About NASDAQ OMX:
The inventor of the electronic exchange, The NASDAQ OMX Group, Inc., fuels economies and provides transformative technologies for the entire lifecycle of a trade - from risk management to trade to surveillance to clearing. In the U.S. and Europe, we own and operate 25 markets, 3 clearinghouses and 5 central securities depositories supporting equities, options, fixed income, derivatives, commodities, futures and structured products. Able to process more than 1 million messages per second at sub-40 microsecond speeds with 99.99% uptime, our technology drives more than 70 marketplaces in 50 developed and emerging countries into the future, powering 1 in 10 of the world's securities transactions. Our award-winning data products and worldwide indexes are the benchmarks in the financial industry. Home to approximately 3,400 listed companies worth $6 trillion in market cap whose innovations shape our world, we give the ideas of tomorrow access to capital today. Welcome to where the world takes a big leap forward, daily. Welcome to the NASDAQ OMX Century. To learn more, visit www.nasdaqomx.com. Follow us on Facebook (http://www.facebook.com/NASDAQ) and Twitter (http://www.twitter.com/nasdaqomx). (Symbol: NDAQ and member of S&P 500)
Cautionary Note Regarding Forward-Looking Statements
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 X-stream and NASDAQ OMX's other 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.
Source:The NASDAQ OMX Group, Inc.