Iraq Exchange Updates Trading Technology
The migration to X-stream is a step in ISX's ambition to become a Middle Eastern hub, able to host and facilitate other regional markets. Nasdaq OMX has delivered trading technology to ISX since 2007.
"We are committed to becoming one of the most innovative and groundbreaking exchanges, in the Middle East and across the world," says Taha Abdulsalam, CEO of ISX. "Upgrading our trading technology and continuing our partnership with NASDAQ OMX is a clear indication to investors, regulators and other exchanges that Iraq will continue to become a financial center for more regional and global businesses."
In less than a decade, traded shares in ISX increased almost 10-fold, to more than 1.2 billion traded shares expected in 2013, while market capitalization increased more than seven times over the same period to over $12,170 billion USD in the first six months of 2013 alone.
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