Nasdaq OMX Group Inc. announced that it has been selected as the technology partner for a new exchange, East Africa Exchange. NASDAQ OMX will deliver its widely deployed X-stream technology to power trading and clearing for the nascent exchange. The exchange will initially focus on establishing an auction facility and spot trading for agriculture and non-agriculture commodities, but will also develop futures trading across the East Africa Community region.

NASDAQ OMX's X-stream technology will handle trading and clearing of equities and derivatives securities and is scheduled to roll out during the third quarter of 2013.