BrokerTec Global Selects OM As Technology Provider

BrokerTec Global LLC and OM Technology today announced a preliminary agreement under which OM will supply BrokerTec's electronic inter-dealer trading platforms for U.S. Treasuries and Euro-denominated sovereign debt, due to be launched next year. The global inter-dealer brokerage service will enable European dealers to trade U.S. products, and vice versa, through BrokerTec's European and U.S. subsidiaries using the same technology platform. The agreement contemplates a five-year, 700 MSEK relationship covering all activities relating to the development and establishment of the IT infrastructure, including support and facilities management. Under the agreement OM would, on behalf of BrokerTec and its subsidiaries, carry out the technical operation of two electronic trading platforms, one located in Europe and one in the U.S. BrokerTec chose OM as its platform provider after an exhaustive search of more than a dozen potential global technology providers. Key factors in BrokerTec's evaluation included through-put capacity, reliability, functionality, proven experience in technology development and facilities management, and cost. "We believe OM offers the best next generation technology solution that is available today," said Hal Hinkle, President and Chief Executive Officer of BrokerTec Global. "The agreement with BrokerTec is an important acknowledgement of OM's strategy and market leading position within transaction technology. The order, which in total is our largest ever, further shows our capacity to deliver and manage global solutions in new markets," said Magnus Karlsson Böcker, President of OM Technology. The technology platform will be based on a customization of the OM CLICK Exchange System. The OM CLICK Exchange System is based on an open and flexible client/server architecture. The system is used by more than ten exchanges around the world, including the Hong Kong Futures Exchange, the Australian Stock Exchange and the International Securities Exchange in New York. OM Technology is the world's leading supplier of transaction technology. OM Technology is part of the OM Group, which provides transaction technology services and products. OM operates exchanges (OM Stockholm Exchange, OM London Exchange and OM Fixed Income Exchange) and develops technology that increases the efficiency of financial and commodities markets world-wide. The parent company, OM Gruppen, is listed on OM Stockholm Exchange. BrokerTec Global LLC is a privately-held company formed to provide fixed income dealers with electronic inter-dealer brokerage that is low cost and highly liquid, and to provide price transparency to market participants. Founded in January 1999, BrokerTec today counts twelve of the world's largest debt and capital markets dealers as its shareholders, including: ABN Amro Bank NV, Banco Santander Central Hispano, S.A., Barclays Capital, Citigroup/Salomon Smith Barney, Credit Suisse First Boston, Deutsche Bank AG, Dresdner Bank AG, Goldman Sachs Group, Inc., Lehman Brothers, Merrill Lynch, Morgan Stanley Dean Witter & Co., and Warburg Dillon Read. BrokerTec Global's operating subsidaries are headquartered in Jersey City, New Jersey and London, England.