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OMX to deliver technology and infrastructure to the marketplace in the Kingdom of Saudi Arabia

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OMX, a leading expert in the exchange industry, has agreed with the Capital Market Authority (CMA) and the Saudi Stock Market Tadawul to provide new market technology and infrastructure.

Under the terms of the contracts, OMX will be the primary system integrator for the design, implementation and infrastructure of the Saudi Stock Market Tadawul. The intended project encompasses licenses, delivery with support and maintenance. OMX will provide OMX’s platforms for trading and market data dissemination, SMARTS’ market surveillance system and will also integrate a central securities depository solution from Tata Consultancy Services. The Saudi Stock Market Tadawul operates one of the largest stock markets in the world and is the single largest stock market in the Middle East region. “To be chosen to deliver the technology and infrastructure to the Saudi Stock Market Tadawul, one of the largest stock exchanges in the world, is an acknowledgement of our position as a leading global provider of market technology. Equally as important, it is an opportunity to enhance our position in the Middle East,” said Mr. Magnus Böcker, CEO of OMX AB. “This is the start of a business partnership to further develop both of our companies and the financial markets in the Middle East region.” Abdul Rahman Al-Tuwaijeri, Chairman and CEO of the Capital Market Authority said this agreement is part of the strategy to upgrade the technical infrastructure of the Saudi capital markets to meet the growing market expectations utilizing best available technologies. “Tadawul is committed to providing the highest levels of services to its customers, members, investors and data vendors. The New Generation systems will provide the technology to support the current and future requirements for the market”, Al-Tuwaijeri added. He concluded that OMX was selected as main contractor based on its experience and leadership in the exchange industry at the international level.

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