"This is a historical moment that not only illustrates our strategic relationship with Nasdaq OMX, but also, by the creation of a modern stock exchange, will support a market-oriented economy and promote investment in the Kurdistan region," says Abdullah Ahmed Abdul Raheem, chairman of ESX.
Aided by the Louis Borger Group as an advisor, ESX opted for X-stream in part for its dissemination of real-time market data and its use as an index calculation engine. The system will be implemented in a two-phased process: phase one is the delivery of X-stream, which includes the configuration, installation and testing of a customized X-stream version that meets ESX business requirements; the second phase will cover the ongoing support and maintenance of the system, for a period of five years.
NASDAQ OMX's X-stream technology is currently used by over 26 exchanges.
