Hong Kong Exchange Renews Contract With NASDAQ OMX and Upgrades to INET-Based Trading Platform
HKEx Migrates to Genium INET Powered Platform for Derivatives Trading and Clearing
STOCKHOLM, SWEDEN--(Korea Newswire) June 27, 2012 -- The NASDAQ OMX Group, Inc. (Nasdaq:NDAQ) announces that the Hong Kong Exchanges & Clearing Ltd (HKEx) will upgrade its derivatives trading system (HKATS) and clearing system (DCASS) to NASDAQ OMX's Genium INET technology. In addition HKEx has extended its support contract with NASDAQ OMX for a further five years. The platform upgrade is scheduled to be in effect by fourth quarter of 2013.
The Genium INET powered platform will provide HKEx with integrated trading and clearing of a wide range of derivatives including financial index futures and options, stock futures and options, currency futures, interest rate futures, fixed income futures, commodity futures, volatility index futures and dividend futures. Moreover, the Genium INET technology will provide HKEx with microsecond latency and significant throughput improvements. The HKEx derivatives market has been operating on NASDAQ OMX trading technology since 1994.
Bill Chow, Chief Technology Officer of HKEx, said: “Our adoption of the Genium INET technology will move our long and fruitful partnership with NASDAQ OMX into the next phase and strengthen the global competitiveness of the Hong Kong capital market. We are excited to roll out a new derivatives trading and clearing platform at HKEx and we are confident it will benefit HKEx Participants and investors alike.”
Lars Ottersgard, Senior Vice President NASDAQ OMX Market Technology, commented: “HKEx has always been at the forefront of technology and we congratulate them on their commitment to the world's most sophisticated trading and clearing platform. As one of the largest and most advanced financial markets in the world, HKEx and its participants and investors will enjoy significant performance and capacity benefits from our Genium INET technology, putting them on the path for continued growth.”
About NASDAQ OMX
The inventor and transformer of the electronic exchange, The NASDAQ OMX Group, Inc., fuels economies with revolutionary technologies for the entire lifecycle of a trade - from risk management to trade to surveillance to clearing. In the US and Europe, we own and operate 24 markets, 3 clearinghouses and 6 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-80 microsecond speeds with 99.999% uptime, our technology drives more than 70 exchanges 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 3,400 listed companies worth $5.1 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. 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.
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)
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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.
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