NASDAQ OMX Comments On Obama Administration Proposal For Regulatory Reform Of OTC Derivatives Markets

The NASDAQ OMX Group, Inc. (Nasdaq:NDAQ) today commented on the Obama Administration's proposed regulatory framework for the Over The Counter (OTC) Derivatives Markets. NASDAQ OMX supports the Administration's comprehensive plan which incorporates important protections for the financial system and investors.

Bob Greifeld, NASDAQ OMX CEO, commented, "The Obama Administration and Secretary Geithner have embraced the opportunity to reform these markets in important ways, while providing an infrastructure that permits innovation in OTC products going forward. It is a win-win for investors, market participants and banks." He continued, "The proposal contains a clear framework for enforcement with clearly defined terms and recognition of the need to work with overseas regulators to avoid regulatory arbitrage opportunities. We are also pleased that the Administration has recognized the benefits of central clearing and the efficiency of electronic exchanges"

NASDAQ OMX is the majority owner of the International Derivatives Clearing Group, Inc. (IDCG) which is an approved CFTC regulated clearinghouse for OTC interest rate swap futures contracts and other fixed income derivatives contracts. The exchange company owns or operates 10 clearinghouses around the globe.