Borsa Istanbul Goes Live on Nasdaq Technology Suite
BISTECH Transformation Will Give Turkey One of the World's Most Advanced Exchange Technologies
Marks Completion of Phase One Delivery of Nasdaq's Suite of Technologies and Advisory Services
- Borsa İstanbul, in partnership with Nasdaq, continues to build a world-class capital markets hub for Eurasia region;
- Equity market, clearing and settlement launched first with risk management and other supporting systems;
- Derivatives, debt securities and precious metals markets will be launched later.
ISTANBUL and NEW YORK, Dec. 11, 2015 (GLOBE NEWSWIRE) -- Borsa İstanbul and Nasdaq(Nasdaq:NDAQ) have announced that Borsa İstanbul has officially gone live on nine of Nasdaq's market-leading technologies including trading and clearing, settlement, market data management, index calculation, market surveillance, business intelligence, and pre- and post-trade risk management. The initial implementation is for Borsa İstanbul's equity market.The Turkish exchange will also go live on Nasdaq technology for all other markets, including derivatives, debt securities, and precious metals markets.
The "transformation with technology" program, branded BISTECH by Borsa İstanbul, is a critical milestone in a series of major transformative steps aimed at making the Turkish capital markets more globally competitive.
"We are delighted to have established a high impact global partnership with Nasdaq, anchored by the objective of serving the financial community in the region and worldwide," said Tuncay Dinç, CEO, Borsa İstanbul."I am confident that our combined know-how, powered by one of the most advanced technology suites available in the world today, will consistently offer a cutting edge trading experience to customers worldwide with greater opportunity, innovation and flexibility. BISTECH transformation is a huge step for Borsa İstanbul on the path toward our vision of becoming a global player."
"It has been an honor working with Borsa İstanbul as they emerge, unequivocally, as the capital markets heart of Eurasia," said BobGreifeld, CEO,Nasdaq. "Their relentless dedication to achieving success in growing their business makes them a perfect partner for Nasdaq. We look forward to continuing our very successful relationship with Borsa İstanbul."
The strategic partnership with Nasdaq underscores Borsa İstanbul's position and brand as the capital markets center for the Eurasia region, serving global issuers and investors. Borsa İstanbul also launched a new, environmentally-sensitive data center which offers co-location services that will facilitate high-frequency and algorithmic trading, and provides faster access to investors in remote locations.
"The technology and advisory project with Borsa İstanbul has been the largest, most complex and most ambitious project to date for Nasdaq – we're very proud of it," said Lars Ottersgård, Executive Vice President and Head of Market Technology, Nasdaq. "Creating a globally competitive capital market ecosystem is no small feat. As our client and partner, Borsa İstanbul has been absolutely dedicated to achieving success and this significant and successful go-live is a clear indication of this. We're thrilled to be supporting them in this substantial endeavor."
The inaugural go-live is a culmination of extensive collaboration between Borsa İstanbul and Nasdaq, following the signing of the first indicative agreement inJuly 2013, and announcing the official partnership in December 2013. Nasdaq also owns five percent equity stake in Borsa İstanbul.
Nasdaq (Nasdaq:NDAQ) is a leading provider of trading, clearing, exchange technology, listing, information and public company services across six continents. Through its diverse portfolio of solutions, Nasdaq enables customers to plan, optimize and execute their business vision with confidence, using proven technologies that provide transparency and insight for navigating today's global capital markets.As the creator of the world's first electronic stock market, its technology powers more than 70 marketplaces in 50 countries, and 1 in 10 of the world's securities transactions. Nasdaq is home to more than 3,600 listed companies with a market value of approximately $9.6 trillion and more than 10,000 corporate clients. To learn more, visit: nasdaq.com/ambition or business.nasdaq.com.
Borsa İstanbul, with historical roots going back to 1873, is a diversified regional exchange in Turkey, providing trading, settlement, custody and registry services for equities, derivatives, fixed income & repo, precious metals and Islamic finance markets.
The Company operates under a single umbrella, following its de-mutualization and incorporation in 2012, and successful completion of horizontal integration (via the acquisition of the derivatives and gold exchanges), and of vertical integration (via control of the two domestic post trade firms), shortly thereafter.
Through its markets, Borsa İstanbul offers corporates, investors and traders in the region a broad range of financial products suited to their needs, and efficient access to extensive capital markets. Post trade and depository services are offered by its majority-owned subsidiaries of Takasbank (Istanbul Settlement and Custody Bank) and MKK (The Central Securities Depository). Borsa İstanbul calculates 360 indices that measure and benchmark equity and fixed income markets in Turkey.
Borsa İstanbul is a shareholder in the Sarajevo, Baku, Kyrgyz, and Montenegro Stock Exchanges, as well as LCH. Clearnet.
Information om Nasdaq OMX
Følg pressemeddelelser fra Nasdaq OMX
Ved at skrive dig op her, vil du modtage pressemeddelelser på mail når de udsendes. Indtast din mail og følg instruktionerne. Det er ligeså let at melde sig fra igen.
Flere pressemeddelelser fra Nasdaq OMX
Nasdaq22.9.2017 21:12 | pressemeddelelse
Nasdaq Welcomes Secoo Holding Limited (Nasdaq: SECO) to The Nasdaq Global Market
Ant Financial Services Group22.9.2017 11:44 | pressemeddelelse
Alipay teams up with Nordic partners to bring "smart tourism" to Chinese visitors
OpenAire22.9.2017 08:02 | pressemeddelelse
OpenAire brings in the sun with retractable structures across Europe
XBiotech, Inc21.9.2017 14:02 | pressemeddelelse
XBiotech to Present at Cantor Fitzgerald's Global Healthcare Conference
Pilatus Bank PLC21.9.2017 09:00 | pressemeddelelse
At the 10th anniversary of the iPhone, Chairman of Pilatus Bank draws a stark comparison of the role technology has played in banking vs telecommunication
Asure Software, Inc.21.9.2017 07:01 | pressemeddelelse
Asure Software to Attend at Quora Consulting's Smartworking Summit
I vores nyhedsrum kan du læse alle vores pressemeddelelser, tilgå materiale i form af billeder og dokumenter, og finde vores kontaktoplysninger.Besøg vores nyhedsrum