Bursa names Nasdaq OMS Group as new tech partner

Malaysian exchange is looking to upgrade its technology
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Bursa Malaysia has selected Nasdaq OMX Groupas its technology partner for securities trading.

The Burmese stock exchange will use NASDAQ OMX's X-Stream INET platform to handle trading of equities, fixed income, exchange-traded fund, funds, and issuer warrants for Bursa Malaysia.

"The deployment is scheduled during the first quarter of 2014," according to a press statement from the stock exchange. NASDAQ OMX was selected in competition with a number of global exchange technology providers.

"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," says Bursa CEO Datuk Tajuddin Atan.

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