STOCKHOLM, Sweden, July 16, 2008 (PRIME NEWSWIRE) -- The NASDAQ OMX Group, Inc. (Nasdaq:NDAQ) and The Singapore Exchange (SGX) achieved a major milestone last week with the launch of a new trading engine for equities, Quest-ST, provided by NASDAQ OMX. SGX is Asia's first demutualised and integrated securities and derivatives exchange.
"We congratulate SGX on the successful launch of the new trading system. SGX is already one of the region's fastest growing exchanges and we look forward to being part of its continued development," said Magnus Bocker, President of NASDAQ OMX. He added, "This roll-out enhances our strong position in Asia, where we are currently powering more than ten exchanges."
In addition to the equities trading engine, NASDAQ OMX will deliver a clearing platform for SGX derivatives, securities and OTC clearings businesses in 2009. Earlier this year, SGX launched an upgrade of its market data system, SGX DerivativesQuote, the first solution in the world to be powered by NASDAQ OMX's next generation distribution system for market data, Genium(r) Market Info.
Quest-ST offers functionalities to support the introduction of a wider range of products and will facilitate faster implementation of new trading products and services. It has higher capacity limits than the former system, to better meet the needs of algorithmic and high-velocity traders who are beginning to establish a strong presence in Asia. NASDAQ OMX is SGX's partner for the design and implementation of the new equities trading solution.
"Quest-ST is an integral part of our technology roadmap, and marks another milestone in our continuous journey of infrastructure renewal. We would like to thank our member firms, market participants and NASDAQ OMX for their support in implementing Quest-ST," said Mr. Muthukrishnan Ramaswami, Senior Executive Vice President and Chief Operations Officer of SGX.
Foreign companies from over 20 countries, some from Europe and North America, are listed on SGX. With over one-third of the companies listed on SGX from overseas, SGX is a truly international exchange and listing hub representing a full spectrum of industries. Through a growing suite of products, SGX is also rapidly emerging as Asia's offshore risk management centre.
ABOUT 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, 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. There can be no assurance that the FSA will give the NASDAQ OMX applicant the authorization and permissions which it seeks.
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