The Gulf Time Newspaper One of the finest business newspapers in the UAE brought to you by our professional writers and editors.
DUBAI / WAM
Borse Dubai and Nasdaq announced the signing of a new agreement to bolster the technological infrastructure of Dubai’s stock exchanges, Dubai Financial Market (DFM), and Nasdaq Dubai, and further improve post-trade practices.
Under the agreement with Borse Dubai, the parent company of DFM, Nasdaq will deliver a new INET-powered, multi-asset trading technology engine, the Nasdaq Matching Engine, a state-of-the-art cash equities clearing module, Nasdaq Packaged Clearing, and enable an in-memory-vetting model on the central securities depository, CSD, solution, which will increase performance, speed and resiliency, all under the new Nasdaq Financial Framework architecture. This infrastructure renovation is expected to be completed by early 2019 and will pave the way for various enhancements in DFM, including central counterparty, CCP, clearing.
“Since its inception, Borse Dubai has always been committed to employing the most advanced technologies of financial markets, which have positioned DFM at the forefront of regional exchanges and strengthened Dubai’s leading position as an international capital markets hub,†said Essa Kazim, Chairman of Borse Dubai.