NEW YORK and TIANJIN, China, May 14, 2009 (GLOBE NEWSWIRE) -- The NASDAQ OMX Group, Inc. (Nasdaq:NDAQ) today signed a Memorandum of Understanding (MoU) with the Tianjin Municipal People's Government for collaboration regarding overseas listings for companies in the Tianjin - Binhai new economic area. The agreement provides support for Tianjin companies wishing to list overseas and the exchange of information with regard to capital raising and support services for public companies domiciled in Tianjin.
"We are pleased to announce our new partnership with the Tianjin government since this part of China truly represents innovation and growth," said Bob McCooey, Senior Vice President of New Listings and the Capital Markets Group of NASDAQ OMX. "This region is the gateway to North China and we look forward to expanding our presence and reach in this important region."
Tianjin is one of four state municipalities in China and the third largest city after Beijing and Shanghai. Massive government investment has been allocated to seven major industries, including IT, automotive and manufacturing, the oil and chemical industry, biotech, alternative energy, mining and metallurgy and "GreenFood" (research into agricultural production using less chemicals). More than 15,000 foreign corporations have a presence in Tianjin, including Airbus and Samsung.
The Chinese government has reported that one out of every 10 mobile phones produced in the world was manufactured in the area.
The MoU signing ceremony took place in the mayor's residence in Tianjin with Bob McCooey of NASDAQ OMX and Tianjin deputy mayor Cui Jindu.
There are 78 listed companies from Mainland China listed on NASDAQ OMX and 18 from Hong Kong, Macau and Taiwan. NASDAQ OMX has representative offices in Beijing and Hong Kong and has MoUs with the Shanghai and Shenzhen stock exchanges.
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 ETFs. 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.
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The matters described herein may 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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