The NASDAQ OMX Group, Inc. successfully launches Iraq Stock Exchange’s (ISX) new trading and clearing system based on NASDAQ OMX technology.
The launch, which took place on 19 April, marks a historic milestone in Iraq who with ISX’s new exchange platform moves to electronic trading for the first time. NASDAQ OMX has provided equities trading and clearing technology to ISX’s system, which was implemented by prime contractor United Services, and supported by funding from the U.S. government.
Upon launch five of ISX’s 91 listed companies were available for electronic trading, while others will be added over the next several months.
We are pleased and honored to provide a trading platform to ISX that will act to increase its visibility and credibility towards foreign investors, says Lars Ottersgrd, senior vice president, Market Technology, NASDAQ OMX. An efficient trading and clearing system is instrumental in creating investor awareness and thus attract liquidity, and we are confident that this new platform will support continued growth at ISX.
We are enthusiastic about the potential for increased foreign investment on the ISX, say in the statement Nawsheruan Baban, ISX chairman and Taha Abdul Salam, ISX CEO.
L.D.