Borsa Italiana launches a New Joint Service Model With OMX For Its Derivatives Market.STOCKHOLM, Sweden -- OMX OMX Office Max (stock symbol) (STO:OMX), a leading expert in the exchange industry, and Borsa Italiana See Italian Exchange. have today signed a 5-year agreement for the provision of IT operations for Borsa Italiana's derivatives market The derivatives markets are the financial markets for derivatives. The market can be divided into two, that for exchange traded derivatives and that for over-the-counter derivatives. , IDEM [Latin, The same.] Used to indicate a reference that has previously been made and typically abbreviated "id." in legal and scholarly bibliographic citations. . This agreement is based on a new joint service model between BIt Systems, the Information & Communication Technology company of Borsa Italiana Group, and OMX. Borsa Italiana has used OMX's trading application since IDEM was launched in 1994. Under the terms of this new agreement, OMX will provide the central systems infrastructure, technical operations, systems surveillance and network services. OMX will work in close partnership with BIt Systems which will be responsible for members connectivity, customer support and application management. "To be chosen to provide IT operations for Borsa Italiana's derivatives market IDEM is an acknowledgement of our position as an expert in the exchange industry", said Mr. Magnus Bocker, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of OMX. "Including Borsa Italiana's derivatives market IDEM, OMX is currently operating 16 exchanges, which makes us the leading exchange outsourcing (1) Contracting with outside consultants, software houses or service bureaus to perform systems analysis, programming and datacenter operations. Contrast with insourcing. See netsourcing, ASP, SSP and facilities management. provider." "In 2006, IDEM is continuing to grow at fast pace trading about 140,000 standard contracts or EUR EUR In currencies, this is the abbreviation for the Euro. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 5 billion a day, a growth of 34 percent compared to the same period last year. This new joint service model allows Borsa Italiana to support this growth maintaining very high standards of quality and efficiency for its derivatives market", said Massimo Capuano, President and Chief Executive Officer of Borsa Italiana. About OMX - OMX is a leading expert in the exchange industry. Through the Nordic Exchange in Copenhagen, Stockholm, Helsinki, Riga, Tallinn and Vilnius, OMX offers access to approximately 80 percent of the Nordic and Baltic securities market. Our integrated technology solutions span the transaction chain enabling efficient securities transactions for exchanges, clearing organizations, central securities depositories and other financial institutions around the world. OMX is listed on the Nordic Exchange in Stockholm, Helsinki and Copenhagen. For more information, please visit www.omxgroup.com. This information was brought to you by Waymaker http://www.waymaker.net |
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