STOCKHOLM, Sweden and NEW YORK, Jun 3, 2010 (GlobeNewswire via COMTEX News Network) -- The NASDAQ OMX Group, Inc. (Nasdaq:NDAQ) today announced that it will deliver an ultra low latency trading platform to Singapore Exchange (SGX). The new trading platform, named SGX Reach, will be powered by NASDAQ OMX's Genium INET, the fastest trading technology in the world. SGX's migration to the new trading platform will commence with cash equities in 2011.
The partnership between NASDAQ OMX and SGX dates back to the launch of a new derivatives trading platform in 2004. Since then the partnership has been extended to also include cash trading, derivatives clearing, commodities trading & clearing, and market data. The new Genium INET powered platform will enable significant latency and transaction capacity advantages and help strengthen SGX's position as the Gateway to Asia.
The Genium INET technology can deliver an average production roundtrip latency of sub-200 microseconds, with a throughput of over one million messages per second. Benchmark tests for SGX have shown an average latency below 90 microseconds.
Anna Ewing, Chief Information Officer at NASDAQ OMX, said, "SGX has truly earned its legacy as an innovator and early adopter of transformative exchange technology, and this is a significant milestone in our longstanding partnership. The commitment to migrate to our high performance Genium INET platform puts SGX at the technology forefront of exchanges, and sets the foundation for continued growth, both within and outside Asia."
Bob Caisley, Chief Information Officer at SGX, commented, "We are deploying the most advanced trading system in the world, thereby raising the bar for speed, capacity and scalability and providing our customers with a strong competitive advantage. The ultra low-latency and performance benefits of Genium INET will strengthen our position as the Asian Gateway and enable us to attract a wider range of market participants."
About NASDAQ OMX
The NASDAQ OMX Group, Inc. is the world's largest exchange company. It delivers trading, exchange technology and public company services across six continents, with more than 3,600 listed companies. NASDAQ OMX offers multiple capital raising solutions to companies around the globe, including its U.S. listings market, NASDAQ OMX Nordic, NASDAQ OMX Baltic, NASDAQ OMX First North, and the U.S. 144A sector. The company offers trading across multiple asset classes including equities, derivatives, debt, commodities, structured products and exchange-traded funds. NASDAQ OMX technology supports the operations of over 70 exchanges, clearing organizations and central securities depositories in more than 50 countries. NASDAQ OMX Nordic and NASDAQ OMX Baltic are not legal entities but describe 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. Please follow NASDAQ OMX on Facebook (http://www.facebook.com/nasdaqomx) and Twitter (http://www.twitter.com/nasdaqomx).
Cautionary Note Regarding Forward-Looking Statements
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 products and offerings. 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. There can be no assurance that the FSA will give the NASDAQ OMX applicant the authorization and permissions which it seeks.
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SOURCE: The NASDAQ OMX Group, Inc.
CONTACT: The NASDAQ OMX Group, Inc. Media Contact: Carl Norell +46 8 405 66 39 email@example.com
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