OMX signs contract with Dubai Financial Market to deliver new trading system

OMX, a leading expert in the exchange industry, has signed a contract with Dubai Financial Market, DFM, in the United Arab Emirates, to provide a new trading system in order to enhance DFM’s IT infrastructure.

Under the terms of the contract, OMX will be the system provider for the license, customization, implementation and support of DFM’s new trading system. DFM operates one of the premium stock markets in the Middle East region and have experienced high growth over the last few years. “To be chosen to deliver the trading technology to Dubai Financial Market is an acknowledgement of our position as a leading global provider of market technology. Equally as important, it is an opportunity to strengthen our position in the Middle East, which is highly interesting growth region for OMX”, said Magnus Böcker, President and CEO, OMX. “This is the continuation of a technology partnership to further develop both parties and in particular contributing to develop the financial markets in Dubai.” “The new trading platform is part of our overall strategy to continuously invest and enhance our IT infrastructure. DFM has grown from strength to strength – 2000 trades a day five years ago to 20,000 trades a day currently. Taking cue from past experience, DFM expects trade volumes to grow exponentially in the near future and our IT investments are planned for the anticipated growth”, said Essa Kazim, Director General, DFM: “The new fully integrated trading platform will enable DFM to take the next big leap in modernizing the stock market and improving its performance.”