Asia's Newest Exchange to Increase Trading System Capabilities to Meet Demand for Rapid Growth
Asia Pacific Stock Exchange (APX) and NASDAQ OMX (Nasdaq:NDAQ) have signed an agreement for NASDAQ OMX to deliver its industry leading trading technology, X-stream, as well as Genium FIX, to Asia Pacific Stock Exchange to power its APeX® trading platform, the new rapidly growing securities exchange that is a bridge for capital, knowledge, deals and investor flows between Asia and Australia. The trading system is expected to go live in late 2014.
"APX is revolutionizing the way Asian capital, especially China, is accessed," said George Wang, Deputy Chairman, APX. "By tapping NASDAQ OMX to provide our trading technology, we are selecting a platform with proven capabilities to offer multi-asset classes, indexes, high capacity and the FIX infrastructure that offers local and overseas participants standardized, reliable, stable and fast communication. We are proud to be offering our customers an industry-leading trading platform that matches our growth ambitions, making our operational capabilities limitless."
"We are proud to be selected to work with APX as it expands and prepares for long-term growth," said Lars Ottersgård, Senior Vice President, Market Technology, NASDAQ OMX. "Being a facilitator for greater capital flows and linking business between Australia and Asia is incredibly important. We look forward to partnering with APX in offering a platform which promotes access to institutional and retail investors alike."
"We are very pleased to partner with NASDAQ OMX in upgrading our trading platform," said David Lawrence, Chief Operating Officer, APX. "The X-stream system will allow new functionality to be adopted and the expansion of the APX market. By offering our service through a widely distributed, high performance platform APX has demonstrated that we are committed to providing the sophisticated trading infrastructure required to reach into the broader Asian region that reinforces APX as a competitive alternative Australian listing and trading venue."
APX is seeking to differentiate itself from other exchanges in a number of ways. These include attracting a large number of investors from Asia—specifically in Greater China—to trade on the APX market, targeting growth companies (with competitive listing fees), adopting a multilingual approach (starting with English and Chinese) in the trading and information platform, as well as customer service. And most importantly, APX is dedicated to implementing a high degree of market transparency and integrity.
"The X-stream system and its connectivity suites will set us for many competitive situations and allow new functionality, products and initiatives to be adopted over the coming years," said Sharmila Hegde, Head of Operations and Technology, APX.
NASDAQ OMX's exchange technology, including trading, clearing, CSD and market surveillance systems, is in operation in over 100 marketplaces across USA, Europe, Asia, Australia, Africa and Middle East.