Dhaka, Bangladesh (BBN)- The Dhaka Stock Exchange (DSE) has  signed an agreement with two US-based companies – NASDAQ OMX and FlexTrade Systems – to upgrade its existing trading system to a 'next-generation, world-class' trading platform.

DSE managing director Professor Swapan Kumar Bala, NASDAQ OMX managing director Robert Fröjd, and principal and executive director of FlexTrade Systems Bertrand Rassat signed the agreement on behalf of their respective organisations at a city hotel on Friday.

NASDAQ OMX is the world-leading provider of stock exchange trading systems with XStream INET being the fastest in operation in the world. NASDAQ OMX's exchange technology, including trading, clearing, CSD and market surveillance systems, is in operation in over 80 international exchanges across USA, Europe, Asia, Australia, Africa and Middle East.

FlexTrade Systems, an award-winning US-based company, offers cutting-edge broker order and execution management systems, and is deployed across 175 institutional customers across USA, Europe and Asia. Its systems meet the increasingly demanding requirements of international buy-side and sell-side institutions and financial intermediaries.

The systems from NASDAQ OMX and FlexTrade Systems are both compatible with the product rollout plans of DSE, and will meet the business requirements of the exchange and participating local and international financial intermediaries.

BBN/SSR/AD-22Mar14-1:14 pm (BST)