Saudi Arabia signs major markets upgrade with Nasdaq

Saudi Arabia signs major markets upgrade with Nasdaq:

"Saudi Arabia has signed a deal with US group Nasdaq to upgrade the country’s financial markets infrastructure, another step towards its long-term goal of diversifying its economy.

The country’s stock exchange, the Tadawul, on Monday said it would use technology from the US group as the backbone for share trading.

Nasdaq, which supplies trading technology to dozens of markets around the world, will replace Tadawul’s current registry, depository, clearing and settlement systems, which are more than 16 years old."



'via Blog this'