BT and OMX sign market data distribution deal
14 December 2007 | 2212 views | 0
OMX and BT have entered into an agreement under which market data from OMX Nordic Exchange will be distributed through BT's extensive financial services network.
The new communication solution will generate access to the complete information offerings from OMX market data, which contains more than 800 companies. BT will enable access to the Nordic Exchange's market data to a community of more than 10,500 sites worldwide, which will help eliminate the need for thousands of point-to-point connections to existing and new firms interested in obtaining OMX market data.
"By working with BT we are enabling the OMX business to grow further, which will help create an increased visibility to the companies listed on the Nordic Exchange. The benefits of this deal are twofold. We gain access to a community of market participants not currently accessing the Nordic Exchange and for existing BT customers, including program traders, hedge funds, buy and sell-side firms, they now can easily and quickly obtain our market data. Given today's market conditions, this is a great value proposition for all market participants looking to maintain a competitive edge," says Hans-Ole Jochumsen, President Information Services & New Markets OMX.
"With access to more than 80 percent of the exchange trading in the Nordic and Baltic countries, OMX is a very important player in the region and a key player to add to our community. With the Nordic Exchange serving as a central gateway to the Nordic and Baltic financial markets, it is a great addition to our growing list of exchange providers and should open up additional opportunities for BT in this part of the world," says Chris Church, Managing Director, Radianz Services, BT Global Financial Services.
OMX will join the nearly 50 execution venues worldwide that currently distribute their market data over the Radianz Shared Market Infrastructure.