PNG stock exchange switches on NASDAQ trading system

NASDAQ and the Port Moresby Stock Exchange (POMSoX) have announced that POMSoX has gone live with the widely deployed Nasdaq Matching Engine that operates on the Nasdaq Financial Framework platform.

The launch of the new trading platform is a result of an upgrade from previous NASDAQ trading technology. The new trading engine will handle the trading of equities in the Papua New Guinea market. POMSoX has been a customer of NASDAQ since 1999.

“The Nasdaq trading platform will allow significant innovation in terms of market design and market offerings,” said Johnson Kalo, a POMSoX board member said. “We believe the platform will provide strong support for future growth in the PNG market and provide new business opportunities in areas such as market data distribution.”

“We are pleased to continue to support POMSoX, a longstanding NASDAQ customer,” said Robert Frojd, Regional Manager, South Asia, Southeast Asia & Pacific, Market Technology, and NASDAQ. “This launch also highlights the scalability and flexibility of our technology. We believe, with our latest matching engine in place, POMSoX will be in a strong position to continue its focus on growing volumes and attracting new investors." .


SOURCE: NASDAQ/PACNEWS

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