Philadelphia Board of Trade becomes Nasdaq OMX Futures Exchange

Source: Nasdaq OMX

The Nasdaq OMX Group, (Nasdaq:NDAQ) announced today the renaming of the Philadelphia Board of Trade to Nasdaq OMX Futures Exchange (NFX), effective immediately.

NASDAQ OMX acquired PBOT as part of its acquisition of the Philadelphia Stock Exchange in July 2008. Today, NFX serves as a futures exchange within the NASDAQ OMX Group. NFX is a designated contract market under CFTC jurisdiction and currently lists 10 futures products; including interest rate swap futures, currency futures and sector index futures for trading.

"The rebranding of our US futures subsidiary to NFX extends the NASDAQ OMX global brand while furthering our expansion into new asset classes and new markets," said Chris Concannon, Executive Vice President, NASDAQ OMX U.S. Transaction Services. "In 2008, we launched new markets such as the NASDAQ Options Market and NASDAQ OMX Europe while furthering NASDAQ Futures Exchange, which began trading new interest-rate swap futures through our partnership with IDCG, and new World Currency Futures," he added. "In the year ahead, NFX will focus on furthering its strategy and leveraging its superior trading technology in the US futures space to bring new products to market on an efficient futures trading platform."

Ben Craig, currently Vice President of Strategy & Futures for NASDAQ OMX U.S. Transaction Services, will also serve as President of the NASDAQ OMX Futures Exchange. Mr. Craig will be based in NASDAQ OMX's Philadelphia, PA offices. Ben joined NASDAQ OMX following the acquisition of The Philadelphia Stock Exchange in 2008.

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