LONDON, July 6, 2009 (GLOBE NEWSWIRE) -- NASDAQ OMX Europe today announced that it will provide order routing functionality to non-displayed markets from its "lit" (displayed) book, including routing to NEURO Dark.
This new functionality will also enable order routing directly from NEURO Dark to other non-displayed markets and provide participants with greater opportunity for execution across multiple pools of non-displayed liquidity.
In addition, NEURO Dark will now use the European Best Bid and Offer (EBBO)* as the reference price -- the price used to determine what price a security should execute. Using the EBBO will provide greater opportunity for price improvement within NEURO Dark by including the quotes from alternative venues, such as MTFs and exchanges.
Charlotte Crosswell, President of NASDAQ OMX Europe, commented, "In this increasingly fragmented market, firms are looking for more efficient ways to access liquidity. Order routing is a key differentiator for NASDAQ OMX Europe and we are committed to providing our customers with the most effective routing strategies. Extending our routing offering to dark pools will mean that customers can now gain access to both lit and dark venues through one single connection, greatly improving their ability to seek out new liquidity."
NEURO Dark currently trades approximately 900 of the most actively traded European blue chip shares.
The new functionality is due to go live in July, subject to the conclusion of ongoing discussions with the FSA.
* EBBO pricing is determined by the best bid and offer price available on the primary markets or MTFs.
ABOUT NASDAQ OMX EUROPE
NASDAQ OMX Europe, the most competitively priced multilateral trading facility in Europe, is the first platform to connect European liquidity pools with Pan-European routing. NASDAQ OMX Europe currently trades approximately 900 securities including constituents of the main European indices, ETFs and other highly liquid securities. For more information about NASDAQ OMX Europe, visit www.nasdaqomxeurope.com.
NEURO and NEURO Dark are trading names of NASDAQ OMX Europe Limited, which is authorised and regulated by the Financial Services Authority. Insofar as the content of this communication is considered a financial promotion for the purposes of section 21 FSMA 2000, it is not communicated or approved by a person authorised under FSMA. This communication is directed only at persons to whom NASDAQ OMX Europe may lawfully make financial promotions (Relevant Persons) including persons who have professional experience in matters relating to investments who are "investment professionals" within the meaning of article 19 of the FSMA (Financial Promotion) Order of 2005. This communication must not be distributed to, acted on or relied upon by persons who are not Relevant Persons.
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 over 3,800 listed companies. NASDAQ OMX Group offers multiple capital raising solutions to companies around the globe, including its U.S. listings market; NASDAQ OMX Nordic, NASDAQ OMX Baltic, including First North; 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 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.
CONTACT: NASDAQ OMX Europe Media Contacts: Bethany Sherman +1(212) 401-8714 firstname.lastname@example.org Anna Rasin +46(8)405 66 12 email@example.com
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