STOCKHOLM, Sweden, June 23, 2009 (GLOBE NEWSWIRE) -- The NASDAQ OMX Group, Inc. (Nasdaq:NDAQ) today announces that it will provide trading and clearing operations to a new Dutch equities search engine TOM (The Order Machine). TOM yesterday received an AMF (Dutch FSA) license to start up a best execution service for equities, giving private investors access to professional markets and execution prices. Later this year, TOM aims to launch a best execution service for derivatives in addition to shares.
Henk Wim van Arem with TOM's management said, "We are excited to be able to offer a unique best execution service using NASDAQ OMX technology and operation services. One of the key deciding factors for selecting NASDAQ OMX is the possibility to transition to their Next Generation Genium platform, which will give us unique speed and capacity advantages on both cash and derivatives trading.
Henrik Paulsson, Head of European Derivatives at NASDAQ OMX, said, "TOM's offer is perfectly aligned with what European investors are looking for today, and we look forward to working with them to ensure efficient market operations. The proven Nordic trading and clearing platform used by TOM will appeal to liquidity providers and ultimately help end-investors find best-execution prices."
TOM, The Order Machine, combines the best possible execution of stock exchange orders with an advantageous and transparent in-house trading platform. For clients of connected banks, TOM seeks out the best price at which an order can be executed on a variety of trading platforms. As a result of this, TOM is promoting the competition required by MiFID between stock exchanges and alternative trading platforms. Ultimately, the intended result is better prices for private end-investors. TOM is a 50/50 joint venture between BinckBank and Optiver. TOM has the ambition to expand to become a Multilateral Trading Facility (MTF).
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 3,800 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.
CONTACT: NASDAQ OMX Media Contact: Carl Norell +46(8)405 66 39 firstname.lastname@example.org
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