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SMALL BUSINESS
Nasdaq OMX to provide tech for Kuwait exchange
AP
NEW YORK -Global exchange operator Nasdaq OMX Group Inc. said Monday it will provide the Kuwait Stock Exchange with trading technology and advisory services.
The agreement, the 11th technology deal Nasdaq OMX has completed in the Middle East region, will provide services so the Kuwait Stock Exchange can implement a new electronic trading platform for equities, bonds and derivatives. Rollout of the initial products on the electronic platform will begin in the first half of 2011.
Nasdaq OMX will also provide advisory services to help the Kuwaiti exchange comply with international standards and continue the development of a national capital market.
Terms of the joint venture were not disclosed.
Shares of Nasdaq OMX rose 14 cents to $20.54 in morning trading.
Copyright 2009 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
2009-10-12 09:45:00
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