Nasdaq Extends Market Tech Relationship With ISX
Nasdaq Inc. and the Iraq Stock Exchange (ISX) have signed a new agreement to extend their market technology relationship.
As part of the agreement, Nasdaq will continue providing ISX with matching engine and central securities depository (CSD) technology. This new agreement marks the next chapter of a technology partnership between Nasdaq and ISX which originated in 2007.â€śWe are pleased to build on our successful partnership with Nasdaq,â€ť said Taha A. Abdulsalam, CEO, Iraq Stock Exchange. â€śUsing Nasdaqâ€™s market technology is a clear indication to investors, regulators and other exchanges that Iraq will bolster its efforts into becoming an important financial center for regional and global businesses.â€ť
â€ťBy upgrading to the latest Nasdaq technology, ISX will be joining a community of exchanges deploying high-end, multi-asset trading technology that complies with international standards,â€ť said MichĂ¨le Carlsson, Managing Director, Nasdaq in the Middle East and Africa. â€śWe look forward to supporting ISX as they continue evolving and innovating their marketplace.â€ť
The exchange has launched new fixed income, thematic and ESG-focused indices.
The addressable market for private company secondary transactions is up to $1.5bn.
US institutions can access all European and Asian markets with one contractual relationship.
SVP, Citi, Goldman Sachs, and Morgan Stanley will invest in the new company.
A similar service is available on the BIDS platform in the US equity market.