NYSE Euronext and Qatar will build a new cash and derivatives exchange in Doha, adopting the transatlantic bourse's technology, and will also work together to explore further business opportunities in the Middle East.
NYSE Euronext and Qatar will build a new cash and derivatives exchange in Doha, adopting the transatlantic bourse's technology, and will also work together to explore further business opportunities in the Middle East. The partnership will transform the Doha Securities Market into a significant international player in the global exchange space. "This partnership lays the foundations for us to build Doha into a world class financial centre," the Qatar Prime Minister said.
The Doha deal comes as the oil-rich region plays an increasingly active role in exchange consolidation among global stock market operators.
Qatar is expected to be the second-largest economy in the region by 2015. Combining the liquidity and innovation of the DSM with NYSE Euronext, an integrated international exchange offers significant potential for the introduction of new trading products and international members.
The closing of the transaction is expected to take place early during the fourth quarter of 2008, subject to the completion of documentation and obtaining non-objection from regulators.
Press release
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