DGAP-News: The NASDAQ OMX Group, Inc. /
NASDAQ OMX and Borsa Istanbul Sign Landmark Deal
31.12.2013 / 12:15
---------------------------------------------------------------------
*NASDAQ OMX to deliver its most advanced suite of technologies and advisory
services
*Borsa Istanbul, in partnership with NASDAQ OMX, to build world-class capital
markets hub for Eurasia region, to have regional reselling rights and to
develop multiple new platforms
*NASDAQ OMX to take equity stake in Borsa Istanbul
ISTANBUL, Turkey, Dec. 31, 2013 (GLOBE NEWSWIRE) -- NASDAQ OMX Group
(Nasdaq:NDAQ) and Borsa Istanbul A.S. have today concluded a wide-ranging
agreement, which includes the delivery of market-leading technologies and
advisory services to Borsa Istanbul, and NASDAQ OMX taking an equity stake in
Borsa Istanbul.
Key aspects of the agreement include the provision of NASDAQ OMX's most
advanced and complete selection of market technology solutions and advisory
services, based on the globally market-leading Genium INET suite and all
associated platforms and applications, with regional resell rights and also
eventual self-sufficiency for Borsa Istanbul. Further, the parties are to work
closely together to cement Borsa Istanbul's position and brand as the capital
markets hub for the Eurasia region, serving global issuers, investors, and
corporations. As part of the agreement, NASDAQ OMX will take a five percent
equity stake in Borsa Istanbul, with an option to increase this by an
additional two percent; NASDAQ OMX will also receive a series of cash payments.
The parties' forward cooperation pathway may also include a minority
participation by Borsa Istanbul in NASDAQ OMX.
'We are delighted to have put in place a highly impactful global partnership
with NASDAQ OMX, anchored on the objective of together serving the financial
community worldwide,' said Dr. Ibrahim M. Turhan, Chairman and CEO of Borsa
Istanbul. 'I am confident that our combined team, powered by one of the most
advanced technology suites available in the world today, will consistently
offer cutting edge trading facility, innovation, platform breadth, and
flexibility to customers worldwide.'
The partnership positions Borsa Istanbul as a leading, integrated, multi-asset
class exchange that operates a best-of-breed platform serving issuers,
investors and traders globally. Borsa Istanbul will integrate and operate
NASDAQ OMX's suite of world-class systems for trading, clearing, market
surveillance and risk management, covering all asset classes. The agreement
underscores a long-term commitment that will benefit member firms and customers
of both exchanges.
'We are pleased to be working side-by-side with Borsa Istanbul as they evolve
toward becoming an international hub that will attract global investors to the
Eurasia region,' said Bob Greifeld, CEO, NASDAQ OMX. 'Building and powering the
world's capital markets is at the heart of NASDAQ OMX's Global Technology
Solutions business, and we are thrilled to be partnering and investing in the
Turkish exchange.'
'This new partnership is a milestone for our market technology business,' said
Lars Ottersgard, Senior Vice President and Head of Market Technology, NASDAQ
OMX. 'By delivering our entire suite of technology solutions, including our
advisory services, to Borsa Istanbul we show the depth and breadth of NASDAQ
OMX's global offering. Establishing global capital markets is core to NASDAQ
OMX's mission and we are pleased to be Turkey's partner in building efficient
and effective functioning markets.'
The contract is a culmination of substantial work between the parties,
following their signature of a first indicative agreement in July 2013.
Borsa Istanbul is advised by Sardis Capital Limited; legal counsel are Turunc
and Linklaters.
About NASDAQ OMX:
NASDAQ OMX (Nasdaq:NDAQ) is a leading provider of trading, exchange technology,
information and public company services across six continents. Through its
diverse portfolio of solutions, NASDAQ OMX enables customers to plan, optimize
and execute their business vision with confidence, using proven technologies
that provide transparency and insight for navigating today's global capital
markets. As the creator of the world's first electronic stock market, its
technology powers more than 80 marketplaces in 50 countries, and approximately
1 in 10 of the world's securities transactions. NASDAQ OMX is home to more than
3,300 listed companies with a market value of over $7 trillion and more than
10,000 corporate clients. To learn more, visit www.nasdaqomx.com.
About Borsa Istanbul
Borsa Istanbul, through its subsidiaries (Takasbank and MKK - the Central
Securities Depository Agency), is the sole provider in Turkey, of trading,
settlement, custody and registry services for a wide range of products such as
equities, debt securities, repo, warrants, options, futures, certificates and
ETFs. Via a major reform in 2012 consummated by the new Capital Markets Law
enacted in December 2012, Borsa Istanbul successfully completed its
de-mutualization and privatization, as well as horizontal integration via
acquisition of the derivatives and precious-metals exchanges, and vertical
integration via control of the two domestic post-trade firms, with a
strengthened regulatory backdrop in terms of enhancements in transparency and
investor protection. For further information, please visit Borsa Istanbul at
www.borsaistanbul.com, and follow us on Facebook
(http://www.facebook.com/borsaistanbul, and Twitter
(http://www.twitter.com/borsaistanbul).
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 and its 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.
NDAQG
CONTACT: NASDAQ OMX Media Contact:
Ryan Wells
+1 (212) 231-5541 (office); +1 (646) 581-4286 (mobile)
Ryan.Wells@NASDAQOMX.com
Borsa Istanbul Media Contact:
Saha Ozpinar
+90 212 298 2832 (office)
saha.ozpinar@borsaistanbul.com
News Source: NASDAQ OMX
End of Corporate News
---------------------------------------------------------------------
31.12.2013 Dissemination of a Corporate News, transmitted by DGAP - a
company of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
---------------------------------------------------------------------
Language: English
Company: The NASDAQ OMX Group, Inc.
United States
ISIN: US6311031081
End of News DGAP News-Service
---------------------------------------------------------------------
246586 31.12.2013
DGAP-News: NASDAQ OMX and Borsa Istanbul Sign Landmark Deal
| Source: EQS Group AG