NASDAQ OMX decides to close its Pan-European equity MTF NASDAQ OMX EuropeApril 30, 2010 - 13:24 AMT PanARMENIAN.Net - The NASDAQ OMX Group, Inc. (Nasdaq:NDAQ) reports that it has decided to close its pan-European multilateral trading facility (MTF) operated by NASDAQ OMX Europe (NEURO). The announcement was made following an assessment of the financial prospects of the NEURO business. NASDAQ OMX will continue to have a presence in London and remains committed to London as a financial centre. Forty percent of NASDAQ OMX Nordic trading comes from London based clients. Through its office and its existing data centers in London, NASDAQ OMX will continue to support its trading and market data operations, run the UK power exchange N2EX, and support its international listings business. Eric Noll, Executive Vice President of NASDAQ OMX, said, "Despite our best efforts, the increasingly competitive nature of the MTF space in Europe has meant that the growth of the business hasn't reached levels necessary for us to realize our stated objectives." The last day of trading on NEURO is expected to be May 21. Charlotte Crosswell will continue working with business development initiatives for NASDAQ OMX in London and across Europe. She will also oversee an orderly transition of NEURO customer relationships to NASDAQ OMX Nordics. Hans-Ole Jochumsen, President of NASDAQ OMX Nordic, will assume responsibility for Pan-European Equity trading. With the successful roll-out of the INET trading system in all seven of its equities markets in the Nordics (Copenhagen, Helsinki, Iceland and Stockholm) and the Baltics (Riga, Tallinn and Vilnius), NASDAQ OMX can now leverage operating synergies on the core INET trading platform and build on profitable growth. Jochumsen stated, "Our approach will be very targeted, market-by-market. For example, NASDAQ OMX Nordic is currently the largest competitor to Oslo Bors, with nearly five percent market share." The INET trading platform is currently operating NASDAQ OMX's options markets in the U.S. and is utilized in all NASDAQ OMX equities markets across the world. NASDAQ OMX's INET technology is the most efficient and scalable trading platform in the world, with microsecond speeds, and high reliability and capacity. The INET system is capable of handling one million messages per second at sub-250 microsecond average speeds, the fastest of any exchange or alternative trading system in the world. INET also serves as the backbone for Genium INET, NASDAQ OMX's commercial exchange technology offering. Top stories Yerevan has dismissed Turkey’s demand to shut down the Armenian nuclear power plant as “inappropriate”. Armenia will loan 2.9 billion drams to Nagorno Karabakh (Artsakh), according to a draft government decision. The Ministry of Ecology and Natural Resources of Azerbaijan has “strongly condemned” Armenia’s decision. Kerobyan has said that for the first time in the history of Armenia, the volume of foreign direct investments amounted to about $1 billion. Partner news | EU to provide budgetary support to Armenia The agreement is aimed at increasing the competitiveness of the educational system of Armenia. Aliyev: No peace treaty unless Armenia changes constitution Azerbaijan will not sign a peace treaty with Armenia unless the latter changes its constitution, Azerbaijani President Ilham Aliyev said. Azerbaijan proposes Armenia to jointly seek cancelation of Minak Group The Azerbaijani President maintained that the move will show “how sincere Armenia is.” Seven injured in massive gas station explosion in Armenia The Investigative Committee of Armenia has unveiled details about a massive explosion at a gas station on the Yerevan-Sevan highway. |