NEW YORK and SANTIAGO, Chile, Dec. 14, 2012 (GLOBE NEWSWIRE) -- The NASDAQ OMX Group, Inc. (Nasdaq:NDAQ) and Bolsa Electronica de Chile (BEC) today launched NASDAQ OMX's X-stream trading platform providing BEC with world-class trading technology and strengthening their ongoing strategic alliance for product development and global visibility.
BEC and its members will benefit from significant enhancements in performance, latency and throughput capacity by upgrading to NASDAQ OMX's proven exchange technology. BEC members will remain connected via the FIX trading protocol for a seamless system migration.
NASDAQ OMX technology is used by over 70 marketplaces in 50 countries. Operating with X-stream technology, BEC will be the most powerful trading venue in Chile as defined by performance, latency and throughput.
As part of the strategic alliance NASDAQ OMX is cooperating with BEC on their efforts to cross-list shares, develop new indices and expand existing indices. NASDAQ OMX is also completing a case study for BEC to create peso-dollar futures for trading on NASDAQ OMX exchanges. Additionally, NASDAQ OMX is providing global visibility resources for promotion and marketing to BEC which has now rebranded its logo to include "Powered by NASDAQ OMX."
"Today marks a significant event in BEC's history. Launching NASDAQ OMX's world renowned trading technology will not only open doors to new investors who wish to enter the Chilean marketplace, it also signals our dedication to long-term growth and our strategic vision," said Fernando Cañas, President of BEC Board of Directors. "We could not have chosen a better technology and advisory services provider to partner with."
"We are honored to support BEC with its growth initiatives and by powering its exchange through our X-stream technology. Together, BEC and NASDAQ OMX will build a community of participants, issuers and investors in Latin America who seek an efficient marketplace and innovative products," said Lars Ottersgard, Senior Vice President and Head of Market Technology, NASDAQ OMX.
About NASDAQ OMX:
The inventor of the electronic exchange, The NASDAQ OMX Group, Inc., fuels economies and provides transformative technologies for the entire lifecycle of a trade - from risk management to trade to surveillance to clearing. In the U.S. and Europe, we own and operate 25 markets, 3 clearinghouses and 5 central securities depositories supporting equities, options, fixed income, derivatives, commodities, futures and structured products. Able to process more than 1 million messages per second at sub-40 microsecond speeds with 99.99% uptime, our technology drives more than 70 marketplaces in 50 developed and emerging countries into the future, powering 1 in 10 of the world's securities transactions. Our award-winning data products and worldwide indexes are the benchmarks in the financial industry. Home to approximately 3,400 listed companies worth $6 trillion in market cap whose innovations shape our world, we give the ideas of tomorrow access to capital today. Welcome to where the world takes a big leap forward, daily. Welcome to the NASDAQ OMX Century. To learn more, visit www.nasdaqomx.com. Follow us on Facebook (http://www.facebook.com/NASDAQ) and Twitter (http://www.twitter.com/nasdaqomx). (Symbol: NDAQ and member of S&P 500)
About Bolsa Electronica de Chile:
Bolsa Electronica de Chile (BEC) was created in 1989 and is the first Latin American exchange to use fully electronic systems to execute its trades. Since then, BEC has focused on the development of new products and services for its shareholders and broker-dealers. Until BEC was established, only one exchange controlled the majority of the trades executed in the Chilean market. When BEC began its operations, the market and the investors immediately benefitted. BEC introduced to the market real competition through lower fees, longer trading hours and the development of new trading solutions which transformed the Chilean capital market system. Today, BEC has 41 shareholders and 26 broker-dealers using its systems. In addition, all major banks, pension funds and institutional investors are also active exchange clients, who will all benefit from the new alliance between BEC and NASDAQ OMX.
Cautionary Note Regarding Forward-Looking Statements
The matters described herein contain forward-looking statements that are made under the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements include, but are not limited to, statements about X-Stream and NASDAQ OMX's other products and offerings. We caution that these statements are not guarantees of future performance. Actual results may differ materially from those expressed or implied in the forward-looking statements. Forward-looking statements involve a number of risks, uncertainties or other factors beyond NASDAQ OMX's control. These factors include, but are not limited to factors detailed in NASDAQ OMX's annual report on Form 10-K, and periodic reports filed with the U.S. Securities and Exchange Commission. We undertake no obligation to release any revisions to any forward-looking statements.
CONTACT: NASDAQ OMX Media Contact: Ryan Wells (212) 231-5541 (office) (646) 581-4286 (mobile) Ryan.Wells@NASDAQOMX.com Bolsa Electronica De Chile Media Contact: Enrique Seguel Steuer (+56-2) 484 0115 email@example.com
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