The involvement of these companies represents a significant step in the development of Nasdaq Europe as it works to build liquidity and market share in order to help realize Nasdaq’s objective of becoming a major part of the European market place.
Nasdaq Europe’s European Trading System (ETS), which started operating today, offers similar functionality to the current Nasdaq Stock MarketSM but is adapted to the regional needs of the European market.
Jim Weber, Chief Operating Officer of Nasdaq Europe, said: "Nasdaq Europe is taking shape extremely quickly. US equities can now be traded in European trading hours; the new trading system is now live and today we welcome eight blue chip investors. These eight highly regarded institutions share our vision of global equity trading and we look forward to working with them over the coming months as Nasdaq Europe builds market share and liquidity."
Roger Nagioff, Co-Head of Global Equity for Lehman Brothers commented, " Lehman Brothers believe that Nasdaq Europe will become an important part of the financial community. Its brand and track record, together with Knight, have impressive credentials in this area of the marketplace".
"We are very pleased to be a part of this innovative initiative. We believe it should play a significant positive role in the evolution of the global marketplace", added Bernard L. Madoff, chairman of Madoff Securities.
“Nasdaq Europe is an obvious choice for Fortis Bank, which has developed a strong pan-European presence in investment banking. We believe that the Nasdaq expertise will make it a success," said Frédéric Van Gheluwe, managing director, investment banking for Fortis Bank.
Nasdaq Europe, which is a subsidiary of The Nasdaq Stock Market, Inc has been designed as a truly pan-European exchange. Its unique structure and independence from any national market place make it a perfect fit for innovative companies and forward looking investors across Europe and beyond. The market operates on a pan-European basis, with a unified infrastructure including a single Rule Book, a single membership, a dedicated trading platform, and a seamless link to cross-border trading and settlement. For further information please visit www.nasdaqeurope.com.
Credit Suisse First Boston (CSFB) is a leading global investment bank serving institutional, corporate, government and individual clients. CSFB's businesses include securities underwriting, sales and trading, investment banking, private equity, financial advisory services, investment research, venture capital, correspondent brokerage services and retail online brokerage services. It operates in over 87 locations across more than 39 countries on 6 continents, and has some 28,000 staff worldwide. The Firm is a business unit of the Zurich based Credit Suisse Group, a leading global financial services company. For more information on Credit Suisse First Boston, please visit our website at http://www.csfb.com.
Lehman Brothers (ticker symbol NYSE:LEH), an innovator in global finance, serves the financial needs of corporations, governments and municipalities, institutional clients, and high-net-worth individuals worldwide. Founded in 1850, Lehman Brothers maintains leadership positions in equity and fixed income sales, trading and research, investment banking, private equity and private client services. The Firm is headquartered in New York, London, and Tokyo and operates through a network of offices around the world. For further information about Lehman Brothers' services, products and recruitment opportunities, visit our Web site at www.lehman.com.
Schroder Salomon Smith Barney is the new division of Citigroup formed by the May 2000 purchase of Schroders investment banking business by Salomon Smith Barney (SSB). The Schroder Salomon Smith Barney name now encompasses a full investment banking and securities brokerage business, primarily in Europe. The Firm employs around 3,500 professionals in Europe, who are based in the Firm's European headquarters in London and offices in Amsterdam, Budapest, Dublin, Frankfurt, Geneva, Lisbon, Madrid, Milan, Moscow, Paris, Warsaw and Zurich. ("Schroder" is a trademark of Schroder Holdings PLC and is used under license by Salomon Smith Barney.)
Banco Santander Central Hispano is Spain's leading financial group, with US$407.2 billion in total managed funds, and it provides services to 36 million customers in 42 countries around the world through more than 10,000 offices. It is a bank of reference in Europe, where it is one of the three largest by market capitalization in the Euro zone. The Group is also the largest financial services franchise in Latin America, with more than US$115 billion in assets and an average market share of 10%.
Fortis Bank is part of Fortis, an international financial services provider active in the fields of insurance, banking and investment. With a market capitalization of EUR 44.7 billion and around 70,000 employees, Fortis ranks among the fifteen largest financial institutions in Europe.
Fortis is listed on the exchanges of Amsterdam, Brussels, London and Luxembourg and has a sponsored ADR program in the United States.
The Nasdaq Stock Market lists nearly 4,500 companies, has a larger dollar volume, and trades more shares per day than any other U.S. market. Nasdaq is a subsidiary of the National Association of Securities Dealers, Inc. (NASD®), the largest securities-industry, self-regulatory organization in the United States. For more information about Nasdaq, visit the Nasdaq Web site at www.nasdaq.com or the Nasdaq NewsroomSM at www.nasdaqnews.com.
