STOCKHOLM, Sweden and NEW YORK, Nov. 4, 2009 (GLOBE NEWSWIRE) -- The NASDAQ OMX Group, Inc. (Nasdaq:NDAQ) today reported that Dubai Financial Market (DFM) has successfully completed migration to its new trading platform from NASDAQ OMX. DFM's system launch, which took place on October 29, received immediate positive acknowledgement from participating members and the investing public.
The trading platform from NASDAQ OMX replaces DFM's previous system, also from NASDAQ OMX, and is designed to create a more efficient marketplace and trading experience for DFM members. The system enables trading of cash equities with potential for derivatives products.
Lars Ottersgard, Senior Vice President, NASDAQ OMX Market Technology said, "DFM's system launch marks an important day in Dubai's exchange history, and will act as a driver of the development of the regional marketplace. Through its system upgrade DFM will be able to offer its members significant capacity and latency advantages and the ability to more quickly and easily introduce new products."
Hassan Al Serkal, Senior Vice President & Chief Operations Officer (COO) - Operations Division, Dubai Financial Market said, "We are very pleased to have rolled out a high-end trading platform that we are confident will act as a springboard to a more efficient, liquid and thus attractive market. NASDAQ OMX' technology track record in the Middle East speaks for itself and we look forward to benefiting from a system that will put our exchange at the technology forefront."
NASDAQ OMX has eleven customers in the Middle East region and earlier this year opened a regional office in Dubai driving new business endeavors and supporting existing customers in the Middle East, Africa and South Asia region.
About Dubai Financial Market
Dubai Financial Market (DFM) was established as a public institution having its own independent corporate body. DFM operates as a secondary market for the trading of securities issued by public shareholding companies, bonds issued by the federal Government or any of the local Governments and public institutions in the country, units of investment funds and any other financial instruments, local or foreign, which are accepted by the market. The DFM commenced operations on March 26, 2000. Following its initial public offering in November 2006, when DFM offered 1.6 billion shares, representing 20 per cent of its paid-up capital of AED 8 billion, DFM became a public joint stock company. Following the IPO, the Government of Dubai retained the remaining 80 per cent of DFM Company through Borse Dubai Limited. www.dfm.ae.
About NASDAQ OMX
The NASDAQ OMX Group, Inc. is the world's largest exchange company. It delivers trading, exchange technology and public company services across six continents, with over 3,700 listed companies. NASDAQ OMX offers multiple capital raising solutions to companies around the globe, including its U.S. listings market, NASDAQ OMX Nordic, NASDAQ OMX Baltic, NASDAQ OMX First North, and the U.S. 144A sector. The company offers trading across multiple asset classes including equities, derivatives, debt, commodities, structured products and exchange-traded funds. NASDAQ OMX technology supports the operations of over 70 exchanges, clearing organizations and central securities depositories in more than 50 countries. NASDAQ OMX Nordic and NASDAQ OMX Baltic are not legal entities but describe the common offering from NASDAQ OMX exchanges in Helsinki, Copenhagen, Stockholm, Iceland, Tallinn, Riga, and Vilnius. For more information about NASDAQ OMX, visit http://www.nasdaqomx.com.
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 NASDAQ OMX's 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. There can be no assurance that the FSA will give the NASDAQ OMX applicant the authorization and permissions which it seeks.
CONTACTS: The NASDAQ OMX Group, Inc. Carl Norell +46 8 405 66 39 firstname.lastname@example.org Bethany Sherman +1 212 401-8714 Bethany.email@example.com
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