Members of Chile's Largest Electronic Exchange to Benefit From Proven NASDAQ OMX Exchange Technology, Gaining Significant Latency and Capacity Improvements
NASDAQ OMX to Provide Advisory Services for Strategic Development of New Products and Global Visibility
NEW YORK and SANTIAGO, Chile, Oct. 21, 2011 (GLOBE NEWSWIRE) -- The NASDAQ OMX Group, Inc. (Nasdaq:NDAQ) and Bolsa Electronica de Chile (BEC) today signed a strategic alliance which will provide BEC with the NASDAQ OMX market technology, exchange trading, and advisory services for product development and global visibility.
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BEC and its members will benefit from significant enhancements in performance, latency and throughput capacity by shifting to NASDAQ OMX's proven exchange technology. BEC members will remain connected via the FIX trading protocol for a seamless system shift. NASDAQ OMX market technology is used by over 70 exchanges in 50 countries.
Through the strategic alliance, NASDAQ OMX will advise BEC on their efforts to cross-list shares, develop new indices, improve existing indices and begin a case study to create peso-dollar futures for trading on NASDAQ OMX exchanges. Also, NASDAQ OMX will provide global visibility resources for promotion and marketing.
Fernando Canas, President of BEC, said: "NASDAQ OMX market technology will open the doors to achieve real interconnection for investors who wish to enter the Chilean marketplace and the advisory services will help us create new instruments for investors around the world.
"Our alliance with NASDAQ OMX will support areas of BEC strategic development like technology implementation and partnerships for new products."
Lars Ottersgard, Senior Vice President NASDAQ OMX Market Technology, commented: "We are extremely proud of our alliance with Bolsa Electronica de Chile, who shares our vision of innovation through electronic markets.
"Together, BEC and NASDAQ OMX will build a community of participants, issuers and investors in Latin America who seek an efficient marketplace and innovative products."
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 3,500 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).
About Bolsa Electronica de Chile:
Bolsa Electronica de Chile (BEC) was created in 1989 and is the first Latin American exchange to use fully electronic systems to execute its trades. Since then, BEC has focused on the development of new products and services for its shareholders and broker-dealers. Until BEC was established, only one exchange controlled the majority of the trades executed in the Chilean market. When BEC began its operations, the market and the investors immediately benefitted. BEC introduced to the market real competition through lower fees, longer trading hours and the development of new trading solutions which transformed the Chilean capital market system. Today, BEC has 41 shareholders and 24 broker-dealers using its systems. In addition, all major banks, pension funds and institutional investors are also active exchange clients, who will all benefit from the new alliance between BEC and NASDAQ OMX.
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.
The photo is also available via AP Photo Express.
CONTACT: Enrique Seguel Steuer
Bolsa Electronica De Chile
(+56-2) 484 0115
+1 646 441 5045