DIFX to switch trading platform

Dubai: The Dubai International Financial Exchange (DIFX) plans to introduce a new platform for trading its securities on July 4, 2008.

The trading platform, supplied by Nasdaq OMX, will be used for all trades on the DIFX including equity derivatives, which the DIFX plans to list for the first time later in 2008 (subject to regulatory approval).

Peter FitzGerald, Chief Operating Officer of the DIFX, said: “Nasdaq OMX will provide us with a proven world-class trading platform that will help to drive the expansion of the DIFX as the international exchange serving the Middle East. Derivatives are a key part of our growth strategy to offer new opportunities to investors.''

“Our switch to the new platform also marks a significant step in the integration of the global capital markets, by strengthening the DIFX's links with Nasdaq OMX.''

Nasdaq OMX, the world's largest exchange company, with markets in the United States and Europe, bought a one-third stake in the DIFX in February 2008. The other two-thirds are owned by Borse Dubai, which is a shareholder in Nasdaq OMX.