NEW YORK--(GLOBE NEWSWIRE)--Sept. 23, 2008
The NASDAQ OMX Group, Inc. (Nasdaq:NDAQ) and Ho Chi Minh Stock Exchange (HOSE), the largest stock exchange in Vietnam, today signed a Memorandum of Understanding (MoU) with the intent to support development of the Vietnamese securities market. The objective of the agreement is to leverage NASDAQ OMX's technology and market experience in order to strengthen infrastructure, efficiency and liquidity at HOSE and the Vietnamese capital market as a whole.
The MoU is a mutual commitment from both exchanges to contribute to the growth of HOSE and the Vietnamese securities market. Through the agreement HOSE gains access to NASDAQ OMX's world-leading technology expertise and services in order to develop an infrastructure that can help them drive liquidity and attract investors to their exchange.
"The agreement with NASDAQ OMX aims to foster closer ties between our organizations, and to establish a channel for information exchange in the areas of system operations, regulatory framework, cross-listing and product development," said Mr. Nguyen Doan Hung, Chairman of HOSE. "This is an official and long-term commitment for further cooperation between the two exchanges and the two markets."
"It is with great anticipation that we enter this partnership with the Ho Chi Minh Stock Exchange, as a means to fulfill the great potential of the Vietnamese capital market," said Magnus Bocker, President at NASDAQ OMX. "HOSE has experienced strong growth over the last few years, and we are excited to play an integral part in enabling them to take the next step in becoming a leading Asian marketplace."
The MoU signing ceremony will take place in New York on September 23rd, with Vietnam's Deputy Prime Minister and Minister of Foreign Affairs, Mr. Pham Gia Khiem participating. On September 23rd Mr. Pham Gia Khiem will also be performing the Closing Bell ceremony at the NASDAQ's MarketSite Tower in conjunction with United Nations Week.
About Ho Chi Minh Stock Exchange
The Ho Chi Minh Stock Exchange (HOSE) was established in 2000 and operates the biggest securities market in Vietnam. HOSE is an administrative agency of the State Securities Commission and is owned and regulated by Ministry of Finance of Vietnam. Since August 2007, HOSE operates as a Limited Company in order to better meet local market needs.
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.
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
CONTACT: 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
The NASDAQ OMX Group, Inc. (Nasdaq:NDAQ) and Ho Chi Minh Stock Exchange (HOSE), the largest stock exchange in Vietnam, today signed a Memorandum of Understanding (MoU) with the intent to support development of the Vietnamese securities market. The objective of the agreement is to leverage NASDAQ OMX's technology and market experience in order to strengthen infrastructure, efficiency and liquidity at HOSE and the Vietnamese capital market as a whole.
The MoU is a mutual commitment from both exchanges to contribute to the growth of HOSE and the Vietnamese securities market. Through the agreement HOSE gains access to NASDAQ OMX's world-leading technology expertise and services in order to develop an infrastructure that can help them drive liquidity and attract investors to their exchange.
"The agreement with NASDAQ OMX aims to foster closer ties between our organizations, and to establish a channel for information exchange in the areas of system operations, regulatory framework, cross-listing and product development," said Mr. Nguyen Doan Hung, Chairman of HOSE. "This is an official and long-term commitment for further cooperation between the two exchanges and the two markets."
"It is with great anticipation that we enter this partnership with the Ho Chi Minh Stock Exchange, as a means to fulfill the great potential of the Vietnamese capital market," said Magnus Bocker, President at NASDAQ OMX. "HOSE has experienced strong growth over the last few years, and we are excited to play an integral part in enabling them to take the next step in becoming a leading Asian marketplace."
The MoU signing ceremony will take place in New York on September 23rd, with Vietnam's Deputy Prime Minister and Minister of Foreign Affairs, Mr. Pham Gia Khiem participating. On September 23rd Mr. Pham Gia Khiem will also be performing the Closing Bell ceremony at the NASDAQ's MarketSite Tower in conjunction with United Nations Week.
About Ho Chi Minh Stock Exchange
The Ho Chi Minh Stock Exchange (HOSE) was established in 2000 and operates the biggest securities market in Vietnam. HOSE is an administrative agency of the State Securities Commission and is owned and regulated by Ministry of Finance of Vietnam. Since August 2007, HOSE operates as a Limited Company in order to better meet local market needs.
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.
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
CONTACT: 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