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The NASDAQ OMX Group, Inc. (Nasdaq:NDAQ) today announced the company will combine its Global Data Products and Global Index businesses. The combination will enable greater customer focus and leverage of NASDAQ OMX's scalable technology, product innovation and robust distribution channels. The new business will be led by John L. Jacobs, Executive Vice President of NASDAQ OMX, and operate under the name Global Information Services.
"Combining these business areas allows us to better take advantage of the sweet spot they inherently both share: distribution of data and the delivery of innovative products that provide market insight and transparency," said Bob Greifeld, President and CEO, NASDAQ OMX. "In addition, our product development and strategic expertise will enable us to broaden this offering as we strive to become one of the top global information providers in the financial services industry."
Currently, Global Data Products delivers historical and real-time market data to 2.5 million financial professionals and individual investors in 83 countries worldwide. NASDAQ OMX has been creating innovative and transparent indexes since 1971. Today, there are over 7,000 products based on NASDAQ OMX indexes, spanning different geographies and asset classes with nearly $1 trillion in notional value.
NASDAQ OMX intends to treat the combined Global Data Products and Global Index businesses as a separate reporting segment effective January 1, 2013. The business unit will represent approximately 20% of NASDAQ OMX's total annual revenues.
"Indexes and data continue to represent a significant opportunity for us, and our customers span virtually every segment of the financial services industry," said Mr. Jacobs. "More importantly, the combined business unit will enable us to leverage the recent technology investments and improvements we have made in these areas to deliver more data and indexes faster, across more asset classes, and at lower cost than ever before."
Mr. Jacobs previously oversaw the Global Index Group and was Chief Marketing Officer for NASDAQ OMX since 2003. As part of the transition, the company has named Jeremy Skule to the position of Senior Vice President and Chief Marketing Officer, reporting directly to Mr. Greifeld. Mr. Skule joined NASDAQ OMX in October 2012 as Senior Vice President of Global Marketing and Communications.
