Nasdaq Renews Technology Agreement with Iraq Stock Exchange

Nasdaq will continue to provide ISX with matching engine and central securities depository technology.

Nasdaq Inc. continues to renew its relationships with global stock exchanges, by announcing this Friday that it has signed a new agreement with the Iraq Stock Exchange (ISX) to extend their market technology arrangement.

Nasdaq, which is a provider of trading, clearing and exchange technology services, among other things, will continue to provide ISX with matching engine and central securities depository (CSD) technology.

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The new agreement extends an already more than decade-long friendship, as the technology provider has been supplying the Baghdad-headquartered exchange technology since 2007, the statement said.

Taha A. Abdulsalam, CEO of ISX
Taha A. Abdulsalam, CEO of ISX

Commenting on the partnership, Taha A. Abdulsalam, the Chief Executive Officer (CEO) of the Iraq Stock Exchange said: “We are pleased to build on our successful partnership with Nasdaq. 

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“Using Nasdaq’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.”

Nasdaq currently powers more than 250 market infrastructure organizations and participants with its market technology. Among its clients are exchanges, broker-dealers, clearinghouses, CSDs, and more.

Nasdaq extends partnership with SGX

As Finance Magnates reported, the market technology provider helped the Singapore Exchange launch a multi-matching trading engine for its securities market via the Nasdaq Financial Framework.

Because of the exchange operator’s help, SGX now has more unified operations, messaging, and data infrastructure. This will allow the exchange to scale-up its offering by adding new products to its securities market. SGX and the New York-headquartered firm have been technology partners for more than a decade, having first established a partnership back in 2003.

Michèle Carlsson of Nasdaq
Michèle Carlsson, MD at Nasdaq
Source: LinkedIn

”By 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,” added Michèle Carlsson, Managing Director at Nasdaq in the Middle East and Africa. “We look forward to supporting ISX as they continue evolving and innovating their marketplace.”

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