.jpg)
OMX, a leading expert in the exchange industry, today announced an outsourcing agreement with Verizon Business, a leading provider of advanced, global, enterprise communications and information technology solutions. The agreement covers OMX's external network operations and data center management and spans a seven year period, commencing October 1, 2007.
Under the agreement Verizon Business will take responsibility for aspects of external networks and data centers. OMX will continue to be the prime contractorand offer a wide range of IT services to exchanges, clearing organizations and CSDs worldwide. The overriding goal with the transaction is to further enhance global customer service delivery and support future growth.
“Finding a dedicated outsourcing supplier for external network operations and data center management is an important element in our global growth plans”, comments Markus Gerdien, President, Market Technology, OMX. “Verizon Business has an excellent track record in managed services, proven experience of the financial services sector, and a global network reach. The partnership is ultimately designed to benefit our customers. We look forward to working with Verizon Business as we continue to expand the reach of our IT services worldwide.”
“OMX is a truly global organization servicing customers in one of the most demanding communications environments - the financial markets”, comments John Killian, president, Verizon Business. “OMX's business relies on fast, secure and reliable networks and we are delighted that it has chosen to entrust the operation and management of this critical business asset to Verizon Business.”
Further to facilitating international expansion, OMX's decision to outsource network and data center operations will also enable the company to streamline operations. The agreement is part of OMX's focus on increasing profitability in the Market Technology business.
About OMX
OMX is a leading expert in the exchange industry. The OMX Nordic Exchange comprises over 800 companies including its alternative market First North. OMX provides technology to over 60 exchanges, clearing organizations and central securities depositories in over 50 countries. The Nordic Exchange is nota legal entity but describes the common offering from OMX exchanges in Helsinki,Copenhagen, Stockholm, Iceland, Tallinn, Riga, and Vilnius. OMX is a Nordic Large Cap company in the Financials sector on the OMX Nordic Exchange. For more information, please visit www.omxgroup.com.
About Verizon Business
Verizon Business, a unit of Verizon Communications (NYSE: VZ), is a leading provider of advanced communications and information technology (IT) solutions to large business and government customers worldwide. Combining unsurpassed global network reach with advanced communications, security and other professional service capabilities, Verizon Business delivers innovative and seamless business solutions to customers around the world. For more information, visit www.verizonbusiness.com.
