Boerse Stuttgart Launches New Exchange System, Xitaro, Powered by Nasdaq
October 07 2015 - 2:06PM
Nasdaq (Nasdaq:NDAQ) and Boerse Stuttgart have officially announced
that Boerse Stuttgart, Germany's leading exchange for retail
investors, has gone live on Genium INET. The system named Xitaro
will be used for trading of all asset classes including equities,
fixed income, exchange traded products and securitized derivatives.
In addition to delivering the exchange system, Nasdaq is also
providing Boerse Stuttgart with hosting and technical operations
services.
"Especially at times of intense competition, exchanges need to
maintain a broad level of investment in their systems," said Dr
Christoph Boschan von dem Bussche, Member of the Management Board
of Boerse Stuttgart GmbH. "That is the only way to ensure stability
and quality in securities trading. Thanks to Xitaro, we will be
able to speed up the implementation of new ideas and their
introduction to the market. In line with our objectives, we will
continue to be an innovation leader for retail investors."
"We are very proud that Boerse
Stuttgart has chosen to base its new exchange system on
Nasdaq's Genium INET Trading system," said Lars Ottersgård,
Executive Vice President, Market Technology, Nasdaq. "The
joint project has been a tremendous success with the new system
launching on schedule. We look forward to continuing to
support Boerse Stuttgart's growth to expand beyond its current
position with private investors."
Nasdaq's exchange technology, including trading, clearing, CSD
and market surveillance systems, is in operation in over 100
marketplaces across North and Latin
America, Europe, Asia, Australia, Africa and
the Middle East.
About Nasdaq
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.
About Boerse Stuttgart
As the leading exchange for securitised derivatives in Europe
and for corporate bonds in Germany, Boerse Stuttgart is Europe's
leading exchange for retail investors. In Stuttgart investors can
efficiently trade equities, securitised derivatives, debt
instruments, investment fund units and participation certificates
at reasonable prices. Boerse Stuttgart is also the leading German
floor-trading exchange, with around 36 percent of the order book
turnover. With a trading volume of around EUR 88 billion across all
asset classes in 2014, Boerse Stuttgart is ranked tenth among
European stock exchanges.
NDAQG
CONTACT: Media Contact
Ryan Wells (ryan.wells@nasdaq.com or +44 (0) 7809 596 390)
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