German exchange Boerse Stuttgart has chosen to base its new exchange system on Nasdaq's Genium INET trading technology.
The new system, named Xitaro, will be used for trading of all asset classes, including equities, fixed income, exchange-traded products and securitised derivatives.
Nasdaq is also providing Boerse Stuttgart with hosting and technical operations services.
“We are very proud that Boerse Stuttgart has chosen to base its new exchange system on Nasdaq's Genium INET trading system,” commented Lars Ottersgård, executive vice president of market technology at 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."
Dr Christoph Boschan von dem Bussche, a member of the Boerse Stuttgart management board, said: “Especially at times of intense competition, exchanges need to maintain a broad level of investment in their systems. 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."
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