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The NASDAQ OMX Group, Inc. (Nasdaq:NDAQ) announces that customer testing is now available for its Pan-European Market, a high-volume trading market scheduled to launch in September. The Pan European Market will also provide routing links to multiple liquidity pools across Europe.
NASDAQ OMX customers currently connected to NASDAQ OMX's Nordic exchanges through the extranet called "One Access" can now access the Pan European Market through the same connection.
"Our current European customers can immediately begin testing on the Pan European Market system. This is an important strategic development as we march towards our September launch," commented Chris Concannon, Executive Vice President, Transaction Services, NASDAQ OMX.
Concannon added, "The ease and immediacy associated with customer connectivity is a critical competitive feature of our market, given that many of our target customers are already connected."
OMX Nordic Exchange participants can use their existing One Access connection to access and start testing the Pan European Market through a VPN (virtual private network) which will enable a quick set-up at no cost to the participant. No additional or new link will be required.
The NASDAQ OMX Pan-European Market will enable best execution in high volume securities trading in a cross-border, multimarket environment. The market, which will be the first platform to connect European liquidity pools with Pan-European routing, is scheduled to open in September 2008. At launch it will trade approximately 300 of the most actively traded European blue chip shares. The NASDAQ OMX trading platform is recognized as the fastest in the industry with peak trading speeds of 250 microseconds. The launch of the NASDAQ OMX Pan-European Market is subject to FSA approval.
ABOUT NASDAQ OMX GROUP
The NASDAQ OMX Group, Inc. is the world's largest exchange company. It delivers trading, exchange technology and public company services across six continents, and with over 3,900 companies, it is number one in worldwide listings among major markets. NASDAQ OMX offers multiple capital raising solutions to companies around the globe, including its U.S. listings market; the OMX Nordic Exchange, including First North; and the 144A PORTAL Market. The company offers trading across multiple asset classes including equities, derivatives, debt, commodities, structured products and ETFs. NASDAQ OMX technology supports the operations of over 60 exchanges, clearing organizations and central securities depositories in more than 50 countries. OMX Nordic Exchange is not a legal entity but describes the common offering from NASDAQ OMX exchanges in Helsinki, Copenhagen, Stockholm, Iceland, Tallinn, Riga, and Vilnius. For more information about NASDAQ OMX, visit http://www.nasdaqomx.com/.
