As per the deal, ADX will renew its contract with NASDAQ OMX for a further five years and will upgrade to a trading platform powered by NASDAQ OMX’s X-stream technology.
The upgrade to X-stream technology will provide ADX with a multi-asset trading platform that complies with international standards and policies.
The upgrade is anticipated to be rolled out at ADX in the second half of 2013.
The platform will handle trading of equities, fixed income and ETFs with the possibility to introduce additional instruments.
NASDAQ OMX general manager Middle East & Africa James Martin said, "Exchanges in the Middle East have always been early adaptors of trading technology and NASDAQ OMX is fortunate to have a strong customer-base in this exciting region."
Since 2000, NASDAQ OMX has been delivering trading technology to ADX.
