The four exchanges (Amman Stock Exchange, Beirut Stock Exchange, Bourse des valeurs Mobilieres de Tunis and Muscat Securities Market) will benefit from customisation, project delivery and 10 years of support. The project will include the replacement of the NSC trading platform, support for which will be discontinued from a commercial perspective in 2015.
The Mena region has an increasingly sophisticated financial markets industry with exchanges looking for a cost-effective, high performance platform to support growth in equities or entry into new asset classes. UTP is the core technology that Euronext uses to operate its single order book model throughout Europe.
Dominique Cerutti, chief executive officer Euronext said, “This is an important development for Euronext and demonstrates our commitment to a strategic relationship with these four exchanges.
"Using technology to bring Mena markets closer together helps promote the region and generate growth in its local economies.
"We look forward to working with our clients on business and technology initiatives that will build closer ties with European investors and help develop markets in the Mena region.”