Port Moresby Stock Exchange goes live on Nasdaq trading system
Port Moresby Stock Exchange (POMSoX) has gone live with Nasdaq’s 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 engine will handle the trading of equities in the Papua New Guinea (PNG) market. POMSoX has been a customer of Nasdaq since 1999.
Johnson Kalo, a POMSoX board member, says 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”.
POMSoX has 19 years of exchange experience and is “fairly small and slowly growing” with a market capitalisation of PGK 54.4 billion ($16.9 billion). It currently lists 17 companies – in areas such as aviation, banking and finance, industrial, mining and exploration, and oil and gas industries.
According to Nasdaq, its market infrastructure technologies, including trading, real-time risk, index, and market surveillance systems are operated in more than 100 marketplaces, regulators, clearing houses and central securities depositories (CSDs).