The Abu Dhabi Securities Exchange (ADX) has announced the successful launch of its new multi asset trading system, X-Stream Trading, part of an ongoing collaborative development with the Nasdaq OMX, according to an ADX statement.
ADX supports a variety of asset-classes, having established itself as one of the most versatile exchanges in the region. Abu Dhabi itself has become a beacon for investment in financial realm as of late, specifically with regards to forex as several brokers have moved to set up shop in the United Arab Emirates. The recent launch of the X-Stream Trading platform was first tested successfully on April 12, followed by its inception last week.
Expanded Product Suite Pegged For Future Development
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Indeed, the X-Stream Trading provides a variety of utility and functionality across multiple asset-classes, fully compliant with international regulatory standards. The new Nasdaq-designed platform will look to streamline ADX’s trading performance and transparency measures via a series of comprehensive risk checks protocols. Presently, the X-Stream Trading platform supports equities, ETFs, and fixed income transactions, however future expansion is slated to encompass a multitude of financial instruments.
According to Rashed Al Baloushi, CEO of ADX in a recent statement on the launch, “this is a proud moment for us. Making X-Stream available for our investors, brokers and other stakeholders takes us to a completely new operational level and prepares the way for the next stage of our development. The launch of X-Stream is the culmination of a vast amount of work done by both ADX and our partners at NASDAQ OMX to achieve a faultless transition, and it is a proud moment for us to make X-Stream available for our investors, brokers and other stakeholders. This is not just about the adoption of world class technology – it is about the aspirations of ADX to be a world class window for investors into the opportunities that Abu Dhabi offers.”
The launch is the culmination of a multi-year agreement between the ADX and Nasdaq OMX. Having extended its contract with the Nasdaq OMX for an additional period of five years, the ADX looks to fortify and bolster its platform suite with technology and expertise from the world’s largest exchange.