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High Tech goes Commodity
NASDAQ OMX Signs Contract With the Tokyo Commodity Exchange
First Technology Contract as Combined Company
NEW YORK - The NASDAQ OMX Group, Inc. announced it has signed a contract with the Tokyo Commodity Exchange (TOCOM) and NTT Data to provide an integrated trading and clearing system for commodity derivatives. The contract with TOCOM represents NASDAQ OMX's first technology customer in Japan and its first major technology contract win since its merger.
In December 2007 TOCOM announced their selection of NASDAQ OMX as
technology provider, and NTT Data as prime contractor and system
integrator for its new trading and clearing platform. Today at a
contract signing ceremony in Tokyo, NASDAQ OMX signed the License
Agreement with TOCOM, as well as Project and Support Agreements with
NTT Data. The new system is scheduled to roll out in May of 2009.
"Our signing today is a reflection of the successful collaboration
between TOCOM, NTT Data and NASDAQ OMX in designing an agreement that
puts us on course for a successful launch," said Markus Gerdien,
Executive Vice President Market Technology at NASDAQ OMX. "In order to
provide optimal support, we have recently appointed a local General
Manager with plans to further increase our presence in Japan, which
remains an important marketplace for NASDAQ OMX."
"It is with great pleasure and anticipation that we today signed this
contract with NASDAQ OMX and NTT Data," says Mr. Fukui, Executive
Director TOCOM Systems Division. "The deployment of a world-class, high
performance exchange system will enable us to offer more and better
services to our customers, allowing TOCOM to grow and thrive in the
global commodity marketplace."
The integrated trading and clearing system delivered to TOCOM by NASDAQ
OMX is based on an open architecture with Straight-Through-Processing
(STP) capabilities that enable the entire trade process to be conducted
electronically.
TOCOM is Japan's largest commodity exchange with more than 75% market
share, and lists commodities futures and options contracts, including
metals, oil and rubber.
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