The NASDAQ OMX Group, Inc. (Nasdaq:NDAQ) and the Australian Securities Exchange Group (ASX:ASX) today announced a commitment for the delivery of ASX's next generation trading system - ASX Trade powered by NASDAQ OMX's Genium INET trading platform. ASX Trade will replace their current integrated equities and derivatives trading platform, and with the new system will enable significant latency and transaction capacity advantages.
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The Genium INET platform has an average latency of 250 microseconds, and will allow ASX Trade to increase the trading capacity to exceed 5 million trades and 500 million order book changes per day. It will also retain the core functionality of the existing system, including the ability to trade equities and derivatives on one platform. ASX Trade is scheduled for rollout in the second quarter of financial year 2011 (fourth quarter of this calendar year).
Jeff Olsson, ASX Group Executive Technology, said, "The Genium INET platform will underpin ASX's next generation equity trading system and continues the longstanding and successful relationship that ASX has with NASDAQ OMX. ASX Trade will provide a significant improvement in technology performance, which when coupled with ASX's co-location facilities, will offer market participants a trading experience as fast and efficient as anywhere in the world. This will strengthen the global competitiveness of the Australian capital market to the benefit of traders, companies and investors alike."
"ASX Trade is at the forefront of a suite of new ASX equity market innovations designed to provide tailored services to users with diverse trade execution needs. Similar infrastructure and access arrangements to ASX's existing system will minimise demand on the technology resources of participants and reduce the potential for connectivity disruption during the transition to the Genium INET-powered ASX Trade," said Mr. Olsson.
Lars Ottersgard, Senior Vice President NASDAQ OMX Market Technology, said, "ASX has always been at the forefront for technology adoption and innovation. Through our Genium INET platform ASX will be deploying one of the most advanced and sophisticated trading systems in the world, delivering speed, capacity, scalability and reliability comparable to services offered by the world's leading markets."
About ASX
As one of the world's top‐10 listed exchange groups measured by market capitalisation, the ASX Group (ASX:ASX) was created through the merger of the Australian Stock Exchange and the Sydney Futures Exchange. The ASX Group operates under the brand Australian Securities Exchange and spans the markets for corporate control, capital formation and price discovery, and functions as an operator, supervisor, central counterparty clearer and payments system facilitator. The diverse domestic and international customer base of the Australian Securities Exchange includes issuers of a variety of listed securities, corporates, investment banks, trading banks, fund managers, hedge funds, commodity trading advisers, and proprietary and retail traders.
More information on ASX can be found on www.asx.com.au.
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 approximately 3,700 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).
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.
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NDAQT
CONTACT: NASDAQ OMX
Media Contacts:
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Bethany Sherman
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ASX
Matthew Gibbs
+61 2 9227 0218
matthew.gibbs@asx.com.au
Roula Rodopoulos
+61 2 9227 0410
roula.rodopoulos@asx.com.au