Boursa Kuwait signed the agreement as part of its ongoing commitment to provide a secure, robust and cost-effective market place infrastructure, which ensures the continuity of the operations key services in the case of disasters.

The deal was signed by Khaled Abdulrazzaq Al Khaled, chief executive officer, Boursa Kuwait and Sheikh Mohammed bin Abdullah Al Thani, chief executive officer at Ooredoo Kuwait in the presence of senior officials at the Boursa Kuwait headquarters.

Boursa Kuwait’s datacentre provides a highly available hosting space that enables Boursa to remotely run and manage enterprise applications from a controlled and secure environment.

This will help Boursa in safeguarding mission critical data with the highest level of security and operational reliability by offering services in-line with the highest industry standards, said a statement from the stock exchange.

The scope of services for the new system includes secured colocation area, high-speed connectivity between main and DR site, high available Internet connectivity, and high available market participant connections.

Boursa Kuwait will also have multi-redundant links that will ensure an uninterrupted connectivity between main and DR site in case of a main circuit’s failure.

Al Khaled said: “In line with our vision of creating and sustaining a robust and resilient stock market where companies and investors can thrive, we have been investing our time and efforts to adopt the best practices across all aspects of our operations.”

“The new DR datacentre will further strengthen our IT DR Infrastructure and improve business continuity within the organisation at a lower cost with higher service standards. We are optimistic that our partnership with Ooredoo will bring further value to all our participants,” he added.

Al Thani said: “Our company is pleased to host Boursa Kuwait DR solution in its world-class hosting datacentre located in Kuwait.”

“We meet Boursa’s mission critical application requirements and provide premium quality hosting and managed services. Our datacentre network platform and facilities meet the security requirements and provides high availability and reliability that address the needs of Boursa,” he added.-TradeArabia News Service