The Colombian Exchange Launches New Derivatives Market Based On NASDAQ OMX Technology
STOCKHOLM, Sweden, Sep 4, 2008 (GlobeNewswire via COMTEX News Network) -- The NASDAQ OMX Group, Inc. (Nasdaq:NDAQ) and the Colombian Exchange -- Bolsa de Valores de Colombia (BVC) -- achieved a significant milestone this week with the launch of BVC's new market for derivatives, based on a trading engine provided by NASDAQ OMX. The new trading platform, which later this year will also encompass cash equities, is part of BVC's ongoing initiative to grow its position in the South American exchange market.
"This successful launch is a critical step in enhancing our offer to both South American and international investor communities," said Juan Pablo Cordoba, President BVC. "Implementation of NASDAQ OMX's trading engine allows both retail and institutional investors to execute orders more securely and efficiently. In addition, the system provides scalability for future volume increases, as well as the flexibility to quickly introduce new products."
The system that NASDAQ OMX delivers to BVC offers a high-speed, low-latency platform, and is designed to support fast introduction of new trading products and services. It also enables high capacity limits to meet the needs of algorithmic and high-velocity traders.
"This launch truly symbolizes BVC's commitment to become a leading exchange in South America," said Markus Gerdien, Executive Vice President NASDAQ OMX Market Technology. "BVC has invested in a world-class, state-of-the-art solution that will align them with international standards and put them in a prime position to grow liquidity and attract international capital."
ABOUT NASDAQ OMX GROUP
The NASDAQ OMX Group, Inc. is the world's largest exchange company. It delivers trading, exchange technology and public company services across six continents, and with over 3,900 companies, it is number one in worldwide listings among major markets. NASDAQ OMX offers multiple capital raising solutions to companies around the globe, including its U.S. listings market; the OMX Nordic Exchange, including First North; and the 144A PORTAL Market. 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 60 exchanges, clearing organizations and central securities depositories in more than 50 countries. OMX Nordic Exchange is not a legal entity but describes the common offering from Nasdaq OMX exchanges in Helsinki, Copenhagen, Stockholm, Iceland, Tallinn, Riga, and Vilnius. For more information about NASDAQ OMX, visit www.nasdaqomx.com.
ABOUT BVC
The Bolsa de Valores de Colombia was formed in 2001. The exchange currently operates cash equities, fixed income markets and derivatives market. BVC is the fourth largest fixed income market in the world. BVC is listing in Colombia Market since Jun 2007. For more information visit: www.bvc.com.co
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. There can be no assurance that the FSA will give the NASDAQ OMX applicant the authorization and permissions which it seeks.
NDAQF
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SOURCE: The NASDAQ OMX Group, Inc.
The NASDAQ OMX Group, Inc. Media Contacts: Bethany Sherman +1 212 401 8714 bethany.sherman@nasdaqomx.com Carl Norell +46 8 405 66 39 carl.norell@nasdaqomx.com
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