AtosEuronext has won a contract with The Muscat Securities Market (MSM) in Oman to overhaul and modernise the exchange's trading platform.
Under the deal, AtosEuronext will supply the exchange with a system based on its automated trading technology, NSC, which was originally developed for the Paris Bourse and is currently used in more than 15 exchanges around the world.
The vendor will also provide MSM with its order management system, Pam, and market monitoring and alert application, Aramis.
MSM was created in 1989 and now has more than 140 listed companies and 16 brokerages. The exchange says it is upgrading its systems to manage business growth and to align with international standards.
Implementation of the system is planned for December 2005.
AtosEuronext, which is a joint venture between Euronext and Atos Origin, says the MSM deal reinforces its presence in the Middle East.
The vendor also provides technology to the Jordanian and Lebanese financial exchanges and has recently secured a contract to develop an automated trading platform for The Dubai International Financial Exchange (DIFX), which is due to launch in September.