Nasdaq and nuam exchange have formed a strategic technology partnership which will underpin the integration, development and expansion of a new Latin American marketplace.
nuam exchange, which was formed by the merger of Santiago, Lima and Colombia stock exchanges, is aiming to establish an open market that can strengthen its domestic economies, alongside increasing its position as a global exchange group.
The exchange also seeks to offer an integrated market across various asset classes and market infrastructures, with plans to broaden its range of products and services as it expands.
“This strategic and technological partnership gives us the ability to position nuam exchange on a world-class stage for the operation of the new market we are creating,” said Juan Pablo Córdoba, chief executive at nuam exchange.
“Having Nasdaq’s technology, reliability, and experience will take us to the next level in this integration process.”
As part of the partnership, Nasdaq will provide a flexible and scalable technology platform able to support the exchange’s growth trajectory.
Nasdaq’s technology will also help develop the new exchange group while ensuring the fairness, resilience, and performance of its marketplace.
nuam exchange will standardise access to the market through standard industry APIs, improving the ease and cost of access.
Safeguards in the form of risk controls will also help ensure quality and trust in the market, which will help attract larger, global participants, alongside strengthening liquidity.
“The combination of Nasdaq’s institutional grade technology and the consolidation of three leading Latin American exchanges is an exciting prospect,” said Tal Cohen, co-president at Nasdaq.
“Global capital markets are increasingly demanding resilient and robust technology, capable of withstanding ever-greater volatility and volume. Well-functioning, trusted markets are critical to inclusive growth and prosperity, and we are pleased to support the ongoing development of nuam exchange in Latin America.”