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The NASDAQ OMX Group, Inc. (NASDAQ:NDAQ) Intends to Launch New Listing Venue in London
NEW YORK, Sept. 22, 2008 (GLOBE NEWSWIRE) -- The NASDAQ OMX Group, Inc. (Nasdaq:NDAQ) announced today it will offer pricing based on global transaction volume, together with new listing services which will allow companies to more easily list on multiple NASDAQ OMX markets worldwide. It is the first global exchange to offer these services and benefits as part of its business model.
Additionally, NASDAQ OMX said it intends to file an application to become a Recognized Investment Exchange (RIE) and thereby launch a London listing venue. NASDAQ OMX Europe, its new Multilateral Trading Facility (MTF) has received regulatory approval and will begin trading on September 26, 2008.
The new transaction pricing will provide cost incentives for firms conducting trading across NASDAQ OMX's United States and Nordic markets and NASDAQ OMX Europe, linking the markets in a new way. NASDAQ OMX's new listing services will allow companies to access multiple listing markets more efficiently, and with less bureaucracy. These markets include the U.S., the Nordic region, the Gulf region and, with regulatory approval, London.
Bob Greifeld, Chief Executive Officer of NASDAQ OMX said, "We have listened to our customers carefully and believe this is the model for how global exchanges should deliver products and services." He continued, "Global customers want to deal with global enterprises. While this has been the norm in most industries, the exchange space has been the exception to the rule. NASDAQ OMX is the first exchange to execute on the promise of consolidation, which is to function as an integrated, global enterprise."
Greifeld added, "The goal is to provide customers with the economic benefits of our scale, options that will allow them to expand their investor base more efficiently, and a relationship that seamlessly crosses borders."
The new global customer initiative includes:
- Tiered transaction pricing which can provide customers with a lower total cost of trading in NASDAQ OMX liquidity pools in the U.S., London, and the Nordic exchanges, based on aggregate volume.
- Listing across its U.S., Nordic markets and the Dubai International Financial Exchange (DIFX). Companies wishing to list in these markets will be able to do so through an integrated application process, and in some markets, utilize their filings with the U.S. Securities and Exchange Commission.
- Plans to launch a listing venue in London to serve companies across a range of market capitalizations.
"Our focus is on providing listed companies with better and more efficient ways to attract multiple types of investors. Our new planned listing venue in London will provide additional European visibility to our listed companies and further expand our reach across Europe," commented Magnus Bocker, President of NASDAQ OMX. He added, "Across all our markets, we are rolling out services including Directors Desk, Board Recruiting, Shareholder.com and GlobeNewswire."
Transaction pricing recognizing aggregated trading across liquidity pools will become effective September 26, 2008.
NASDAQ OMX markets will begin accepting global listing applications immediately.
About NASDAQ OMX Europe
NASDAQ OMX Europe, scheduled to commence trading on September 26, 2008, will be the first platform to connect European liquidity pools with Pan-European routing. Following the launch, NASDAQ OMX Europe will trade approximately 600 securities including constituents of the main European indices, ETFs and other highly liquid securities.
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 70 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/.
The matters described herein contain forward-looking statements that are made under the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements include, but are not limited to, statements about NASDAQ OMX's new transaction pricing schedules and listing services and its subsidiary, NASDAQ OMX Europe. We caution that these statements are not guarantees of future performance. Actual results may differ materially from those expressed or implied in the forward-looking statements. Forward-looking statements involve a number of risks, uncertainties or other factors beyond NASDAQ OMX's control. These factors include, but are not limited to factors detailed in NASDAQ OMX's annual report on Form 10-K, and periodic reports filed with the U.S. Securities and Exchange Commission. We undertake no obligation to release any revisions to any forward-looking statements.
NDAQG
CONTACT: The NASDAQ OMX Group, Inc. Media Contacts: Bethany Sherman +1 212 401-8714 bethany.sherman@nasdaqomx.com Silvia Davi +1 646 441-5014 silvia.davi@nasdaqomx.com Jonas Rodny +46 (8) 405 7267 Jonas.rodny@nasdaqomx.com Investor Contact: Vincent Palmiere +1 301 978-5242 vincent.palmiere@nasdaqomx.com