Confirms commitment to profitable growth in Europe with renewed focus on
pan-European strategy in Nordics
London, April 28, 2010 - The NASDAQ OMX Group, Inc. (Nasdaq:NDAQ) reports today
that it has decided to close its pan-European multilateral trading facility
(MTF) operated by NASDAQ OMX Europe (NEURO). The announcement was made following
an assessment of the financial prospects of the NEURO business.
NASDAQ OMX will continue to have a presence in London and remains committed to
London as a financial centre. Forty percent of NASDAQ OMX Nordic trading comes
from London based clients. Through its office and its existing data centers in
London, NASDAQ OMX will continue to support its trading and market data
operations, run the UK power exchange N2EX, and support its international
listings business.
Eric Noll, Executive Vice President of NASDAQ OMX said, “Despite our best
efforts, the increasingly competitive nature of the MTF space in Europe has
meant that the growth of the business hasn't reached levels necessary for us to
realize our stated objectives.”
The last day of trading on NEURO is expected to be May 21. Charlotte Crosswell
will continue working with business development initiatives for NASDAQ OMX in
London and across Europe. She will also oversee an orderly transition of NEURO
customer relationships to NASDAQ OMX Nordics.
Hans-Ole Jochumsen, President of NASDAQ OMX Nordic, will assume responsibility
for Pan-European Equity trading. With the successful roll-out of the INET
trading system in all seven of its equities markets in the Nordics (Copenhagen,
Helsinki, Iceland and Stockholm) and the Baltics (Riga, Tallinn and Vilnius),
NASDAQ OMX can now leverage operating synergies on the core INET trading
platform and build on profitable growth. Jochumsen stated, “Our approach will be
very targeted, market-by-market. For example, NASDAQ OMX Nordic is currently the
largest competitor to Oslo Bors, with nearly five percent market share.”
The INET trading platform is currently operating NASDAQ OMX's options markets in
the U.S. and is utilized in all NASDAQ OMX equities markets across the world.
NASDAQ OMX's INET technology is the most efficient and scalable trading platform
in the world, with microsecond speeds, and high reliability and capacity. The
INET system is capable of handling one million messages per second at sub-250
microsecond average speeds, the fastest of any exchange or alternative trading
system in the world. INET also serves as the backbone for Genium INET, NASDAQ
OMX's commercial exchange technology offering.
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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 more than 3,600 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. *Please follow NASDAQ OMX on
Facebook (http://www.facebook.com/pages/NASDAQ-OMX/108167527653) and Twitter
(http://www.twitter.com/nasdaqomx).
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.
CONTACTS:
The NASDAQ OMX Group, Inc.
Anna Rasin
+46 8 405 66 12 / +44 20 7065 8113
anna.rasin@nasdaqomx.com
