DIFX announces opening date, signs contract for trading platform with AtosEuronextPress Release 23 Feb 2005 11:57 am
The Dubai International Financial Exchange (DIFX) announced today that it plans to open for trading on September 26th, 2005.
The DIFX set the date after signing a contract this week with AtosEuronext for the supply of an automated trading platform for the DIFX.
The agreement will play a key role in helping the DIFX become the main international financial exchange between Western Europe and East Asia for equities, bonds, and a range of other products, by providing the DIFX with a first-class infrastructure.
Lynton Jones, chairman of the DIFX, said: "This agreement is a big step forward. It keeps us on course to become a major new securities market for international issuers, brokers and investors and the international exchange of choice in the Middle East.
"The DIFX is delighted that its technology will be supplied by such an experienced partner of proven quality. The international financial community can have confidence that the DIFX will provide a trading platform that will be efficient, reliable and user-friendly, as well as highly cost effective."
The DIFX last year set a target of opening during the third quarter of 2005. With the date of September 26 now decided, and the agreement for the creation of its trading platform in place, it will intensify its focus on preparing for its launch.
This will include reaching agreement with the many substantial potential issuers who are in discussions about listing their products on the DIFX, as well as with the many leading international and regional intermediaries who wish to become members of the DIFX.
Dominique Brutin, chief executive of AtosEuronext, said: "We are very pleased to have been chosen by the DIFX to provide it with NSC, our fully electronic trading platform used in more than 15 exchanges throughout the world. AtosEuronext's unrivalled expertise will assist the DIFX in becoming a leading international financial exchange.”
The DIFX is located in the Dubai International Financial Centre (DIFC), a financial free zone that opened for business in September 2004 following the passage of legislation.