Source: NASDAQ OMX Group
The NASDAQ OMX Group, Inc. (Nasdaq:NDAQ) today 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.