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Monday, 6 September 2010

FT.com - Qatar Exchange shifts to new platform

Qatar’s stock market carried out a successful first day of trading using the Universal Trading Platform technology of NYSE Euronext, its minority shareholder.

Amid two display glitches, the new system successfully executed about 3,000 trades worth QR221m ($61m) on Sunday, in spite of the Ramadan lull, according to Andre Went, chief executive of Qatar Exchange.

He said that in the final auction about 5 per cent of the total daily volume was traded. The auction was carried out after the 1230 formal market closure to improve price determination and bring the exchange up to international best practice, Mr Went said.