Korea Futures Exchange signs support contract with OM Technology

The Korea Futures Exchange (KOFEX) has signed a five-year support contract with OM Technology, covering the OM CLICK Exchange System and the OM SECUR Clearing System. The support deal's order value amounts to just below SEK 50 m. In the summer of 1998, KOFEX chose OM Technology's electronic systems for trading and clearing futures and options. Excluding support the order was valued at around SEK 50 m. KOFEX trading-in currencies, bonds and gold-will get underway in spring 1999. KOFEX will be South Korea's first pure derivatives exchange. The South Korean financial markets are undergoing rapid transformation and international adaptation, and comprise Asia's fourth largest market in terms of share turnover. OM Technology is the world's leading provider of exchange technology. OM Technology is part of the OM group. OM applies advanced transaction technology to increase the efficiency of financial and energy markets wordwide. This is done both by developing trading technology and by operating exchanges (the OM Stockholm Exchange and the OM London Exchange). The parent company, OM Gruppen, is listed on the OM Stockholm Exchange.