OMX Technology Signs Strategic Partnership Agreement With HCL Technologies

Today, OMX Technology and HCL Technologies signed a five-year strategic partnership agreement involving the outsourcing of certain OMX systems development and maintenance. As a result of the agreement and in line with OMX Technology’s strategy to expand in Asia, OMX has now effectively established a presence in India. The agreement will enable OMX Technology to focus more resources on development of new technology activities and maximize efficiencies across the organization, which translates into increased value for our customers worldwide.

“We believe that this partnership will benefit our customers since it allows us to increase our focus on development of leading edge technology as well as improving overall flexibility and scalability as a technology, processing and outsourcing provider,” said Klas Ståhl, President of OMX Technology. “We also believe that it will position us better for cost-efficient growth, speed up time to market and open a channel to the growing securities markets in India as part of our strategy to increase OMX Technology’s presence in Asia.”

Speaking on the occasion, Rajeev Sawhney, Executive Vice President, HCL Technologies Europe, said, “We have always had a special focus on the Banking and Financial Services industry. This new association with OMX Technology, a world leader in securities transactions, allows us the opportunity to add meaningfully to their capability and to develop cutting edge solutions in this domain. The relationship is multifaceted and synergistic in many ways. It should open up a host of opportunities for both companies.”