STOCKHOLM, Sweden and LAGOS, Nigeria, (GLOBE NEWSWIRE) — Nasdaq (Nasdaq:NDAQ) and The Nigerian Stock Exchange (“The Exchange” or “NSE”) have announced that NSE, which services the largest economy in Africa, will continue leveraging Nasdaq’s matching engine technology for its equities and fixed income markets for an additional five years. Further, NSE will also continue utilizing Nasdaq’s SMARTS Market Surveillance technology to monitor its market for manipulation, including spoofing and layering. NSE has been a Nasdaq client since 1997.
NSE extends matching engine technology contract for an additional five years
“We are delighted to extend our matching engine technology contract with Nasdaq,” said Oscar N. Onyema, OON, Chief Executive Officer, NSE. “Adopting best in class technology is vital for running our modern and competitive market as well as allowing us to stay agile in the face of an evolving ecosystem. The Exchange intends to remain at the forefront of innovation and will actively seek ways to leverage new technologies to drive the growth and development of our market”.
“Over the course of our relationship, NSE has made—and continues to make—significant strides in innovation and revolutionizing Africa’s capital markets,” said Paul McKeown, Senior Vice President, Market Technology, Nasdaq. “By continuing to utilize the Nasdaq Matching Engine, NSE is supporting African investors in creating durable wealth in the Nigerian market, while providing seamless market access to international investors by leveraging our technology’s industry standard connectivity protocols. We look forward to partnering with NSE in the years ahead.”
Nasdaq’s world-leading market technology powers more than 250 of the world’s market infrastructure organizations and market participants, including broker-dealers, exchanges, clearinghouses, central securities depositories and regulators, in over 50 countries with end-to-end, mission-critical technology solutions.