Nasdaq OMX said this morning that it had won the tender to provide technology to the New Zealand stock exchange, in a coup for the US-headquartered bourse whose long-established technology franchise is coming under increasing competition from other exchanges attempting to build out their own technology sales businesses.

The NZX - one of the best performing exchanges last year in terms of its own stock price - will implement Nasdaq OMX's X-stream multi-asset technology platform for equities and derivatives by the fourth quarter this year, Nasdaq said this morning.