NSE Signs New Technology Agreement

Asian stocks
  • NSE Signs New Technology Agreement

The Nigerian Stock Exchange signed a new trading technology agreement with Nasdaq for equities and fixed income markets for another five years.

Also, the Nigerian Stock Exchange will continue to use Nasdaq’s SMARTS Market Surveillance technology to monitor possible market manipulation.

“We are delighted to extend our matching engine technology contract with Nasdaq”, said Oscar N. Onyema, Chief Executive Officer, NSE.

“Adopting best in class technology is vital for running our modern and competitive market as well as allowing us to stay agile in the face of an evolving ecosystem. The Exchange intends to remain at the forefront of innovation and will actively seek ways to leverage new technologies to drive the growth and development of our market”.

“Over the course of our relationship, NSE has made – and continues to make – significant strides in innovation and revolutionizing Africa’s capital markets,” said Paul McKeown, Senior Vice President, Market Technology, Nasdaq.

Continuing, he said: “By continuing to utilize the Nasdaq Matching Engine, NSE is operating on the most widely-used matching engine in the world that combines extraordinary performance with extensive functionality to meet current and future business and performance requirements. We look forward to supporting NSE in the years ahead.”

Nasdaq’s world-leading market technology powers more than 250 of the world’s market infrastructure organizations and market participants, including broker-dealers, exchanges, clearinghouses, central securities depositories and regulators, in over 50 countries with end-to-end, mission-critical technology solutions.

About the Author

Samed Olukoya
CEO/Founder Investors King Ltd, a foreign exchange research analyst, contributing author on New York-based Talk Markets and Investing.com, with over a decade long experience in the global financial market. Contact Samed on Twitter: @sameolukoya; Email: samed@investorsking.com.

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