OMX and Bombay Stock Exchange (BSE) today have signed an agreement under which
OMX will deliver trading and clearing systems to strengthen BSE's derivatives
and securities trading capabilities.
Under the agreement BSE will implement a system from OMX that will serve as
their new trading and clearing platform for derivatives and cash securities.
The trading platform is part of BSE's ongoing efforts to transform its exchange
IT infrastructure to match the growing needs of the marketplace. The first
phase of the system roll-out is targeted for launch by mid 2008.
The launch of BSE's new trading platform is part of its strategy to enhance the
volume capacity in the cash market, but also to offer a more robust derivatives
platform to the Indian market. The clearing system will allow BSE to clear a
wider range of products, as well as offer a new set of clearing services to its
members. In addition to the technology implementation, the agreement
encompasses a business partnership with the joint objective to drive and grow
business at the BSE.
“In our selection of a new trading platform we were looking for a partner that
could bring proven technology along with strong system capacity and
functionality. OMX fits this profile perfectly, and has demonstrated a strong
commitment to delivering a platform that we are confident will provide an
enriching experience to the market intermediaries and investors in doing
business with BSE,” said Rajnikant Patel, Managing Director & CEO, BSE.
“Needless to say we are very excited about delivering technology to one of the
largest and most active stock exchanges in India,” said Magnus Böcker, CEO at
OMX. “Through transforming its trading and clearing infrastructure, BSE will be
able meet the escalating volume capacity needs of the marketplace, putting them
in a prime position for further growth.”
Also involved in the project are subcontractors Headstrong and HCL
Technologies, who under the agreement will deliver a range of components and
services inside the project.
For more information, please contact:
Carl Norell, OMX Media Relations +46 8 405 6639 / Carl.Norell@omxgroup.com
About OMX | OMX is a leading expert in the exchange industry. The OMX Nordic
Exchange comprises over 800 companies including its alternative market First
North. OMX provides technology to over 60 exchanges, clearing organizations and
central securities depositories in over 50 countries. The Nordic Exchange is
not a legal entity but describes the common offering from OMX exchanges in
Helsinki, Copenhagen, Stockholm, Iceland, Tallinn, Riga, and Vilnius. OMX is a
Nordic Large Cap company in the Financials sector on the OMX Nordic Exchange.
For more information, please visit www.omxgroup.com.
