Nasdaq OMX Gets Five More Years in Egypt

May 3, 2012
Tom Steinert-Threlkeld

The Egyptian Exchange has extended a technology agreement with Nasdaq OMX Group.

Nasdaq OMX will provide INET X-Stream technology to support the EGX trading platform, in a relationship that started in November 2008.

“In times of unprecedented national economic turmoil, Nasdaq OMX consistently provided excellent support to ensure that our trading platform efficiently handled the extreme volatility, thus contributing to the recovery of our financial market," Dr. Mohammed Omran, chairman of EGX, said.

EGX's trading platform is based on Nasdaq OMX's X-stream technology, a multi-asset system that complies with international standards and is capable of handling equities, commodities, debt, exchange-traded funds, futures, options, swaps and derivatives.

X-Stream is used in 22 markets worldwide.

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