Nasdaq OMX Technology Powers Iraq Stock Exchange Trading System

The Iraq Stock Exchange (ISX) has launched a new trading and clearing system based on Nasdaq OMX technology.

Nasdaq OMX provided equities trading and clearing technology to ISX’s system in the exchange’s first move into electronic trading. The system was implemented by prime contractor United Services with support and funding from the U.S. government.

In a statement, Lars Ottersgard, Senior Vice President NASDAQ OMX Market Technology, said, “We are pleased and honored to provide a trading platform to ISX that will act to increase its visibility and credibility towards foreign investors. An efficient trading and clearing system is instrumental in creating investor awareness and thus attract liquidity, and we are confident that this new platform will support continued growth at ISX.”

With the launch of ISX’s new system, 91 companies are available for electronic trading with others added in the coming months.