NEW YORK, Dec. 15, 2010 (GLOBE NEWSWIRE) -- The NASDAQ OMX Group, Inc. (Nasdaq:NDAQ) has agreed to acquire FTEN, Inc. (FTEN), a leading provider of Real-Time Risk Management (RTRM) solutions for the financial securities market. Financial terms of the deal were not disclosed.
FTEN is a market leader in RTRM and is well positioned to grow as the industry is becoming more focused on solutions for effectively managing risk. Market participants are seeking tools that provide real-time, low latency enterprise-wide risk management, market awareness and control. FTEN's technology provides broker-dealers and their clients the ability to manage risk more effectively in real-time, which leads to better utilization of capital as well as improved regulatory compliance.
This acquisition is expected to add a significant product resource to NASDAQ OMX, allowing it to offer an industry-leading service to its clients. NASDAQ OMX will offer FTEN solutions to its global base of broker-dealers and the international exchange community.
Eric Noll, Executive Vice President of Transaction Services at NASDAQ OMX, said: "FTEN's customer base is comprised of some of the leading broker dealers in the global market and its offerings are the most comprehensive in terms of functionality, asset class and market spread. As part of NASDAQ OMX, FTEN will be able to increase its penetration globally, greatly broadening its distribution network beyond the U.S. to a worldwide solution, while expanding its U.S. customer base."
Ted Myerson Chief Executive Officer of FTEN, said: "We recognized early on that demand for pre-trade risk management tools would dramatically increase as the regulatory environment evolved and the need for comprehensive risk controls moved from niche to mainstream. We are proud to have developed a solution that has given us a strong market position. The transaction with NASDAQ OMX gives us the ability to broaden the scope of customers we can reach in the U.S. and tap into its international network of exchange partners."
About The NASDAQ OMX Group
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 approximately 3,600 listed companies. NASDAQ OMX Group offers multiple capital raising solutions to companies around the globe, including its U.S. listings market; NASDAQ OMX Nordic, including First North, NASDAQ OMX Baltic and the U.S. 144A sector. The company offers trading across multiple asset classes including equities, derivatives, debt, commodities, structured products and ETFs. NASDAQ OMX Group 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 Group exchanges in Helsinki, Copenhagen, Stockholm, Iceland, Tallinn, Riga, and Vilnius. For more information about NASDAQ OMX, visit www.nasdaqomx.com. *Please follow NASDAQ OMX on Facebook (http://www.facebook.com/pages/NASDAQ-OMX/108167527653) and Twitter (http://www.twitter.com/nasdaqomx).
FTEN is the largest processor of real-time financial securities risk management in the world. Each trading day, FTEN provides real-time risk management and surveillance for up to 17 billion executed shares of U.S. equities, accounting for $150 billion in risk calculations.
Cautionary Note Regarding Forward-Looking Statements
Information set forth in this communication contains forward-looking statements that involve a number of risks and uncertainties. NASDAQ OMX cautions readers that any forward-looking information is not a guarantee of future performance and that actual results could differ materially from those contained in the forward-looking information. Such forward-looking statements include, but are not limited to (i) statements about the planned acquisition of FTEN and the expected benefits of such acquisition, (ii) statements about market demand for FTEN's products and services and, more generally, about the need for risk-management solutions, (iii) statements about FTEN's business prospects following the planned acquisition, and (iv) other statements that are not historical facts. 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, NASDAQ OMX's ability to implement its strategic initiatives, economic, political and market conditions and fluctuations, government and industry regulation, interest rate risk, U.S. and global competition, and other factors detailed in NASDAQ OMX's filings with the U.S. Securities Exchange Commission, including its annual reports on Form 10-K and quarterly reports on Form 10-Q which are available on NASDAQ OMX's website at http://www.nasdaqomx.com and the SEC's website at www.sec.gov. NASDAQ OMX undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise.
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