Oman’s Muscat Securities Market (MSM) launched an upgraded version of the e-trading system earlier today. NYSE Euronext and MSM joined forces to introduce NSC V900 trading platform, which it said is the most advanced system used by stock markets.
The Middle Eastern exchange announced the migration of MSM to NYSE Technologies’ NSC V900 trading platform, from the older NSC V800 version. The innovative trading infrastructure offers market participants the benefits of industry leading performance and speed, according to the release.
NYSE Technologies, the commercial technology arm of NYSE Euronext, licenses technology including trading platforms, market data feeds and other infrastructure, to exchanges around the globe.
In the wake of European regulators blocking its proposed merger with Deutsche Borse over competitive issues in derivatives, NYSE Euronext will look to boost revenues from technology sales, according to published reports. “The NSC V900 trading platform complements our business strategy to further increase liquidity in our capital markets by simplifying and enhancing our infrastructure,” stated MSM Director General Ahmed Salh Al-Marhoon, in today’s release. “We’ve been a customer of NYSE Technologies for many years now, and the high quality product offering supports our growth and differentiates us in today’s increasingly competitive exchange industry.” “It is our goal to help clients increase productivity and performance by introducing quality infrastructure that decreases time to market,” said Stanley Young, CEO of NYSE Technologies, in the release. “As one of NYSE Technologies’ long standing and valued partners, we are pleased to have the opportunity to continue working and innovating with MSM.” According to the release, the NSC platform is utilized by numerous exchanges across the globe. Its implementation at MSM will provide them with significant performance enhancements and the scalability necessary to support the development and growth of their evolving market.
An unnamed NYSE Euronext official cited in the Oman Tribune said that the system will improve performance production and reduce time spent by brokers in processing transactions.