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- Release Date: 29/10/12 17:02
- Summary: GENERAL: NZX: NZX makes successful changeover to new trading technology
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NZX
29/10/2012 15:02
GENERAL
REL: 1502 HRS NZX Limited
GENERAL: NZX: NZX makes successful changeover to new trading technology
NZX makes successful changeover to new trading technology
29 October 2012 - Today NZX successfully launched its X-stream trading
platform, heralding a new era for New Zealand markets.
The go-live is the result of an intensive, seven-month project involving NZX,
US-based technology supplier NASDAQ OMX and market participants.
The NASDAQ OMX platform can handle trading of equities and derivatives
securities plus a range of other instruments, paving the way for further
innovation and growth in New Zealand's markets.
NZX CEO Tim Bennett said, "In an age where the speed of communications is
measured in microseconds, being able to connect and trade on New Zealand's
markets from anywhere in the world is key to our remaining relevant and
competitive in international markets.
"This world class trading system will enable NZX to launch new products
quickly and cost effectively, and provides better connectivity options for
offshore investors," said Bennett.
NASDAQ OMX's X-stream technology is deployed in 22 markets worldwide. It is
capable of handling equities, derivatives, commodities, ETFs and a range of
other instruments on one single platform.
NZX Head of Technology David Godfrey said, "The smooth running of what has
been a highly complex project was assisted by the input and co-operative
effort of our Market Participants, who worked alongside us to achieve a
timely and orderly transition from the old system to the new.
"We are grateful for their support, and look forward to using the new
platform to further improve the performance of our markets," said Godfrey.
Tim Bennett said, "New Zealand's pre-eminence in dairy futures trading has
paved the way for this country to become the home base for other commodities.
Now we have the technological capability to support further market
developments into the future."
ENDS
NZX contact:
Rowan Macrae
Email: [email protected]
End CA:00228979 For:NZX Type:GENERAL Time:2012-10-29 15:02:58
