OMX extends partnership with HCL
OMX, the leading expert in the exchange industry, has signed an agreement with
HCL Technologies Ltd (HCL), the global IT services provider, regarding an extended
partnership. HCL will take on the responsibility for support, maintenance and development
of systems for securities management targeting banks and brokers.
We have excellent experiences of working together with HCL over the last years.
Their proven technical capabilities and customer focus is a good basis for extending
our relationship to the next level. We believe this partnership will strengthen
the offering to our customers using systems for securities back-office. says Hans-Ole
Jochumsen, President Business Area Information Services & New Markets, OMX.
Rajeev Sawhney, Corporate Vice President, HCL, comments: Were delighted to be extending
our working relationship with OMX further still. Our specialist skill-set and sector
experience make us an ideal partner and well be helping OMX to drive through benefits
such as a more efficient and secure service. The agreement highlights HCLs expertise
in the financial services sector and our continued commitment to developing value-add
technology solutions to meet the specific needs of our customers.
The partnership with HCL means that OMX will no longer have any discontinued operations
in the Nordic region. A part of the discontinued operations, will be moved to Business
Area Information Services & New Markets, and be included in the unit Broker Services.
A number of employees´ work tasks will be within Business Area Market Technology
to replace resource consultants and decrease new recruitments.
The business that is moved to Business Area Information Services & New Markets
had sales of SEK 160 million and costs of SEK 195 million in 2006. It is expected
to show a profit during 2007, following the agreement with HCL. For the fourth quarter
2006, the business revenue was SEK 43 million while costs were SEK 49 million, levels
that are expected to remain in the first quarter of 2007.
In August 2005, OMX announced the focusing of its technology business through the
divestment of operations targeting banks and brokerages within the Banks & Brokers
business area. Following the agreement with HCL, only the UK operations in securities
administration services remains in operations being discontinued. The changes are
implemented in OMX accounting as per January 1, 2007.
For more information, please contact:
Niclas Lilja, Press Relations, OMX +46 8 405 63 95
About OMX | OMX is a leading expert in the exchange industry. Through the Nordic
Exchange, OMX offers access to approximately 80 percent of the Nordic and Baltic
securities market. The Nordic Exchange is a term used for marketing purposes and
is not a legal entity. It describes the common offering from the Helsinki Stock
Exchange, Copenhagen Stock Exchange, Stockholm Stock Exchange, Iceland Stock Exchange,
Tallinn Stock Exchange, Riga Stock Exchange and Vilnius Stock Exchange. OMX' integrated
technology solutions cross the transaction chain enabling efficient securities transactions
for over 60 exchange organizations in more than 50 countries. OMX is a Nordic Large
Cap company in the Financials sector on the OMX Nordic Exchange. For more information,
please visit www.omxgroup.com
About HCL Technologies | HCL Technologies is one of Indias leading global IT Services
companies, providing software-led IT solutions, remote infrastructure management
services and BPO. Having made a foray into the global IT landscape in 1999 after
its IPO, HCL Technologies focuses on Transformational Outsourcing, working with
clients in areas that impact and re-define the core of their business. The company
leverages an extensive global offshore infrastructure and its global network of
offices in 16 countries to deliver solutions across select verticals including Financial
Services, Retail & Consumer, Life Sciences Aerospace, Automotive, Semiconductors,
Telecom and MPE (Media Publishing & Entertainment). For the quarter ended 31st December
2006, HCL Technologies, along with its subsidiaries had revenue (TTM) of US $ 1.155
billion (Rs. 5220 crore) and employed 38,317 professionals. For more information,
please visit www.hcltech.com
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