Bursa names Nasdaq OMS Group as new tech partner

Malaysian exchange is looking to upgrade its technology

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.

For more:
-see this article