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Stock Exchange launches new X-GEN trading platform

By The Citizen

The Nigerian Stock Exchange (NSE) yesterday launched its new X-GEN trading platform, which it said was a 21st century technologies to support the growth of the Nigerian Capital Market.

The Executive Director Market Operations and Technology, Ade Bajomo,    'Today, we are trading live on X-Gen and this is a result of a focused, disciplined and intensive 12-month project involving the NSE, its technical partners and the broker dealer community. We believe that the successful implementation of this modern, world-class trading technology suite is a significant development that will change the experience of doing business in not only the Nigerian capital market but in Africa.'

The new trading platform is based on a number of leading technologies, including NASDAQ OMX's XStream matching engine, and the NSE's flexible and robust X-GEN Market Database, developed from scratch by the NSE and its technical partners, and will support trading of cash equities, bonds, ETFs and derivatives (from 2014), giving wider access to real time data, improved market transparency and governance.

'The platform is also enabled to run the Financial Information Exchange (FIX) protocol version 5. These technologies have been deployed on a highly optimised low latency network (X-Net) for trading on the floor of the Exchange and remote broker-dealer offices based in Lagos and underpinned by efficient business processes.

'By deploying the industry's leading trading engine, the NSE is making it clear to the domestic and international market participants that it is dedicated', he added.