press center press release

NASDAQ OMX partners with Deutsche Bank and Imarex FS to introduce FX trading and clearing solution

Published

Stockholm, January 16, 2013 — NASDAQ OMX Nordic, part of NASDAQ OMX Group (NASDAQ:NDAQ), announces a partnership with Deutsche Bank and Imarex FS (Financial Services) to offer market participants access to an integrated trading and clearing service for FX products. This allows clients of NASDAQ OMX’s Norwegian clearing house, NOS, to trade FX products through Deutsche Bank’s leading FX trading platform. Thus they will get direct access to liquidity from the world's leading FX bank, whilst ensuring that clearing and counterparty risk management is carried out in a best practice environment.

Deutsche Bank is the world's largest FX bank, capturing 14.64% of overall market share (Euromoney 2012 survey), which operates the leading FX electronic trading platform Autobahn. Imarex FS will handle the customer onboarding process.

“The combination of world class FX execution and clearing capabilities is a compelling offering for investors looking to transact FX on a standalone basis or as part of a portfolio of assets,” said Greg Edwards, Head of Electronic FX Corporate Sales Europe at Deutsche Bank. “With this initiative investors benefit from best in class technology and liquidity combined with enhanced reporting and improved risk control. The partnership delivers significantly improved workflow capabilities, and we look forward to further developing the service.”

“Our clients are looking for superior trade execution, risk management, capital efficiency and trade processing,” said Mikael Estvall, Vice President of Fixed Income products at NASDAQ OMX Stockholm. “Our new FX clearing service is a response to that. It’s an innovative solution at a time when OTC traded derivatives are gravitating towards clearing in order to reduce counterparty risk. It provides our customers with competitive FX rates from the largest FX bank in the world, along with reduced counterparty risk via our NOS clearing service.”

“This partnership brings access to the deep liquidity on the Autobahn trading platform which delivers significant benefits to our clients,” said Anders Borg, Managing Director at Imarex FS. “We believe the offering has the potential to deliver significant savings for corporates, institutions and active currency traders through improved currency prices, whilst eliminating credit risk between the bank and client. The result is a complete solution for FX trading that meets the needs of our sophisticated client base."

The NOS clearing service is to be integrated into NASDAQ OMX Stockholm’s FX clearing service during 2013.

About NASDAQ OMX

The inventor and transformer of the electronic exchange, The NASDAQ OMX Group, Inc., fuels economies with revolutionary technologies for the entire lifecycle of a trade - from risk management to trade to surveillance to clearing. In the US and Europe, we own and operate 23 markets, 3 clearinghouses and 6 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-80 microsecond speeds with 99.999% uptime, our technology drives more than 70 exchanges 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 3,400 listed companies worth $5.1 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.  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.

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)

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.

Media contact:

Carl Norell, NASDAQ OMX

+46 8 405 66 39

carl.norell@nasdaqomx.com

In This Story

Nasdaq Press Center

Read the latest press releases, request a press kit, and get in touch with our press team.

learn more