OMX reports Dex trading technology deal

OMX reports Dex trading technology deal

Swedish market operator OMX has won a deal to supply an electronic platform, DEX, a new derivatives exchange that is being launched in Canada. Financial terms of the deal were not disclosed.

Under the terms of the contract, OMX will provide implementation, customisation and on-going support services for the new derivatives exchange, which is jointly owned by TSX Group and International Securities Exchange (ISE).

DEX, which is scheduled to begin operations in March 2009, will list and trade options, futures and options on futures on a range of Canadian securities.

Thomas Ascher, ISE's chief strategy officer and a director of DEX, says: "Building a stable and high-performance technology infrastructure is clearly a critical element that will enable the success of our venture with TSX, and we are confident that we will be able to achieve those objectives with the OMX solution."

Markus Gerdien, president, market technology, OMX, says the Dex deal will "further strengthen our position in North America".

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