22 September 2017
Visit http://response.ncr.com

OMX sells Australian banks and brokerages business to GBST

24 November 2005  |  5875 views  |  0 OMX

Nordic stock exchange operator OMX is selling its Palion technology unit, which serves banks and brokerages in Australia, to Brisbane-based GBST Holdings for A$5.1 million.

Palion, which was acquired by OMX last year, provides systems and services to some 25 Australian brokers and has seven employees.

OMX says the transaction, which is expected to close in the fourth quarter of 2005, is expected to have a marginal impact on its results.

The sale is part of OMX's plans to divest its technology business targeting banks and brokerage firms and focus on driving growth of its marketplace business through acquisitions. The vendor said last week that it was buying Computershare's markets technology business, having also agreed to purchase Libra Financial Software, a provider of securities processing and loan management software and services, earlier in the month.

OMX says discussions with prospective buyers for its Nordic banks and brokers business are ongoing and are expected to be finalised before year end.

In a separate move, TLX, an Italian regulated exchange for retail investors, has signed a six year contract with OMX Technology for the supply and implementeation of a trading platform based on the vendor's Click XT software. The agreement includes licence, project management and on-going support for the platform.

Alessandro Zignani, MD of TLX, says the new platform will enable TLX to grow its business and take advantage of the opportunities offered by MiFID.

TLX has been an OMX Technology customer since 2000 when it implemented OMX's entry-level exchange trading system, Stride.

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

OMX to acquire Computershare's markets technology unit

OMX to acquire Computershare's markets technology unit

18 November 2005  |  9893 views  |  0 comments
OMX Technology acquires Iceland's Libra Financial Software

OMX Technology acquires Iceland's Libra Financial Software

14 November 2005  |  6061 views  |  0 comments
OMX to sell off bank and broker business

OMX to sell off bank and broker business

31 August 2005  |  10351 views  |  0 comments

Related company news


Related blogs

Create a blog about this story (membership required)
visit www.capgemini.comvisit www.temenos.comvisit www.sibos.com

Top topics

Most viewed Most shared
HSBC switches on selfie payments in ChinaHSBC switches on selfie payments in China
12745 views comments | 26 tweets | 42 linkedin
Equifax hack: Visa and Mastercard flag 200k compromised credit cardsEquifax hack: Visa and Mastercard flag 200...
11039 views comments | 6 tweets | 17 linkedin
Dutch bank sentences teenage DDoS culprit to community serviceDutch bank sentences teenage DDoS culprit...
9576 views comments | 6 tweets | 3 linkedin
Apple P2P payments service nears launchApple P2P payments service nears launch
8278 views comments | 18 tweets | 27 linkedin
AXA launches blockchain to cover late flight compensationAXA launches blockchain to cover late flig...
8059 views comments | 13 tweets | 27 linkedin

Featured job

Competitive base, double ote, benefits
London, UK

Find your next job