Saudi Gazette - Tadawul upgrades trading platform:
"The Saudi Stock Exchange (Tadawul) and Nasdaq OMX Group have entered into an agreement to replace the former's existing Nasdaq OMX platform (SAXESS) with one powered by the industry leading X-Stream INET technology. Migration to the new platform is expected to commence in January 2014.
Under the deal, Tadawul will also continue to leverage the existing suite of market surveillance and CSD technologies that have been supported by Nasdaq OMX since 2006.
“The Saudi Stock Exchange is proud to engage in a new chapter in its relationship with Nasdaq OMX as we continue our efforts to build the necessary infrastructure to expand into new products and services,” said Adel Al-Ghamdi, CEO, Tadawul, in his opening remarks at the signing ceremony held in Tadawul’s headquarters in Riyadh."
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