NASDAQ OMX's X-stream trading platform has gone live in the New Zealand Market (NZX), marking successful completion of a seven-month global connectivity and exchange technology project.
The flexible multi asset-trading system allows creation of new products to further boost growth in New Zealand’s markets, including dairy futures market and the expected launch of equity derivatives in 2013.
Apart from ensuring the country’s market to remain in pace with new trading platform technologies and trends, the platform enhances NZX’s global connectivity network facilitating foreign interest and demand.
NASDAQ OMX Market Technology senior vice president Lars Ottersgard said, "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."
Currently implemented in 22 markets across the globe, the trading system has been designed as a single platform to handle equities, debt, derivatives, commodities, ETFs and various other financial instruments as per global standards.