Bursa Malaysia is building a new platform for trading equities, fixed income, exchange-traded funds and issuer warrants, using Nasdaq OMX’s X-Stream INET technology.
The new platform will be deployed during Q1 2014.
“As we aimed to complete a major technology refresh for our securities market and build on our overall strategic business roadmap, we wanted a trading technology that would satisfy our demands and desire for growth,” said Tajuddin Atan, CEO, Bursa Malaysia. “Selecting Nasdaq OMX’s X-Stream INET was a sign of this commitment to our customers and our growth towards becoming the center of ASEAN’s multinational marketplace.”
The ASEAN Trading Link was launched on 18 September with Bursa Malaysia and the Singapore Exchange and the Stock Exchange of Thailand connected on 15 October.
Jointly, the three markets offer nearly 3,000 listed companies with a market capitalisation of US$1.4 trillion, accounting for some 70% of the total market capitalisation of ASEAN.
“We are happy to be partnering with one of the leading exchanges in Asia. Bursa Malaysia is both an attractive IPO destination and a hub for Islamic finance,” said Anna Ewing, executive vice president and CIO, Nasdaq OMX. “As Bursa Malaysia looks to advance its growth strategy and expand on its vision of delivering industry-leading products and services, we’re dedicated to supporting its endeavours through our technology.”
X-stream INET is currently used by 22 exchanges globally.