Stockholm, April 3, 2008 — The NASDAQ OMX Group, Inc. (NASDAQ:NDAQ) (NASDAQ OMX
Group), today announced that it has been awarded a one year appointment by ESMID
(Efficient Securities Markets Institutional Development) to develop the local
bond markets in Kenya, Tanzania, Uganda and Rwanda.
Bond trading is at a nascent stage in Kenya, Uganda and Tanzania and is
non-existent in Rwanda. For Kenya, Uganda and Tanzania, changes in regulation
are needed so that bonds can trade electronically. ESMID will work together with
the regulatory authorities and exchanges to help create a more conducive
environment for trading bonds as well as further develop the market structure
for bond trading, including making improvements in clearing and settlement.
ESMID will assist Rwanda in taking appropriate steps to realize an efficient
market.
“We look forward to the development of securities these markets in Eastern
Africa. A well-functioning securities market is a necessity to create growth and
prosperity,” says Magnus Böcker, President at NASDAQ OMX. “
The securities markets in Eastern Africa are underdeveloped, especially in the
important area of bonds since a well-functioning bond market serves to support
investments in local infrastructure, thus providing and valuable tool for the
growth of the economy and welfare. To help support greater development of
securities markets, NASDAQ OMX, SIDA (The Swedish Agency for International
Development Cooperation) and the World Bank took the initiative to establish
ESMID a few years ago.
SIDA and the World Bank are currently steering ESMID activities, which are
wholly financed by Swedish contributions of approximately SEK 40 million.
“We hope to be able to offer our many years practical experience from developing
bond markets in the Nordic countries, as well as world wide, supporting our
customers and partners,” adds Magnus Böcker.
NASDAQ OMX's involvement in Eastern Africa is one of several projects NASDAQ OMX
has in emerging markets. Armenia and Kazakhstan are examples of other countries
where NASDAQ OMX has or has had activities.
The NASDAQ OMX Group, Inc. is the world's largest exchange company. It delivers
trading, exchange technology and public company services across six continents,
and with over 3,900 companies, it is number one in worldwide listings among
major markets. NASDAQ OMX offers multiple capital raising solutions to
companies around the globe, including its U.S. listings market; the OMX
Nordic Exchange, including First North; and the 144A PORTAL Market. The company
offers trading across multiple asset classes including equities, derivatives,
debt, commodities, structured products and ETFs. NASDAQ OMX technology supports
the operations of over 60 exchanges, clearing organizations and central
securities depositories in more than 50 countries. OMX Nordic Exchange is not a
legal entity but describes the common offering from Nasdaq OMX exchanges in
Helsinki, Copenhagen, Stockholm, Iceland, Tallinn, Riga, and Vilnius. For more
information about NASDAQ OMX, visit 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.
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CONTACTS:
The NASDAQ OMX Group, Inc.
Media Contacts:
Jonas Rodny
+46 8 405 72 67
jonas.rodny@nasdaqomx.com
