BOGOTA, Colombia, Oct. 10, 2012 (GLOBE NEWSWIRE) -- The NASDAQ OMX Group, Inc. (Nasdaq:NDAQ) and the Bolsa de Valores de Colombia (BVC), the fourth largest stock exchange in Latin America, today announced the extension of their current technology contract for an additional five years. This extension is part of BVC's ongoing initiative to continue strengthening its position in both the regional and international exchange arena.
Since 2007, the relationship between BVC and NASDAQ OMX has been a key partnership in Latin America for both companies. BVC selected X-stream, used in more than 22 markets making it the most widely used marketplace system in the world, to power a new equities trading system and provide the technology to launch a new derivatives marketplace to enhance BVC's marketplace offerings. BVC subsequently expanded its marketplace to include energy contracts using the X-stream trading solution, which operates multi-asset classes and multi-currency trading.
Juan Pablo Córdoba, President of BVC, said: "We're thrilled to be using a platform that allows us to conform to international standards thus making our equity and derivatives markets attractive to foreign and domestic investors, as well as raising the bar for our market participants. At 100 percent uptime, there was no questioning our decision to extend our current contract to continue running on NASDAQ OMX's X-stream solution."
Lars Ottersgård, Senior Vice President NASDAQ OMX Market Technology, said: "We couldn't be more pleased to continue our relationship with BVC. BVC is rapidly becoming a significant exchange not just in Latin America, but the world. It is a privilege to support the company in its ascension and as NASDAQ OMX continues its own expansion in Latin America."
About Bolsa de Valores de Colombia
Bolsa de Valores de Colombia (BVC) is a corporation supervised by the Superintendencia Financiera de Colombia, operates the trading and registration platforms for equities, fixed income and derivatives. Also BVC provides listing services, market data products and other value added services to its clients. By market size, the BVC is the fourth largest stock exchange in Latin America. Likewise, the BVC is a listed company since July 2007.
The BVC has investments in companies that are part of the value chain of the Colombia capital market, among which are: Central Counterparty Risk Clearing House (CRCC), FX Clearing House (CCDC), Energy Commodities Derivatives Company (Derivex), FX Trading Company (Integrados FX) and the Colombian Central Security Depositary Company (Deceval). Currently, the BVC is part of the Integrated Market of Latin American, MILA, an initiative that, by market capitalization, is the second largest market in Latin America, and integrated by the stock markets of Colombia, Perú and Chile. For more information see en.bvc.com.co. Follow BVC on Twitter (@ BVCColombia).
About NASDAQ OMX:
The inventor of the electronic exchange, The NASDAQ OMX Group, Inc. fuels economies and provides transformative technologies for the entire lifecycle of a trade - from risk management to trade to surveillance to clearing. In the U.S. and Europe, we own and operate 25 markets, 3 clearinghouses and 5 central securities depositories supporting equities, options, fixed income, derivatives, commodities, futures and structured products. Able to process more than 1 million messages per second at sub-40 microsecond speeds with 99.99% uptime, our technology drives more than 70 marketplaces in 50 developed and emerging countries into the future, powering 1 in 10 of the world's securities transactions. Our award-winning data products and worldwide indexes are the benchmarks in the financial industry. Home to approximately 3,400 listed companies worth $6 trillion in market cap whose innovations shape our world, we give the ideas of tomorrow access to capital today. Welcome to where the world takes a big leap forward, daily. Welcome to the NASDAQ OMX Century. To learn more, visit www.nasdaqomx.com. Follow us on Facebook (http://www.facebook.com/NASDAQ) and Twitter (http://www.twitter.com/nasdaqomx). (Symbol: NDAQ and member of S&P 500)
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 X-stream and NASDAQ OMX's other 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.
NDAQA