Source: Nasdaq OMX
The NASDAQ OMX Group, Inc. (Nasdaq:NDAQ) today announced that it has extended its co-operation with Verizon Business. Through the two companies' new agreements, NASDAQ OMX is reinforcing its global open connectivity strategy as well as supporting the expansion of its world-leading co-location services offering for its U.S. exchanges and markets. The agreements extend an existing relationship under which Verizon Business provides the exchange company with professional services, unified communications and corporate network services.
The contracts cover two main areas: NASDAQ OMX is expanding its use of Verizon Business' data-center co-location services in the U.S. to enhance its overall trading capabilities; in addition, the exchange company is transitioning its Nordic exchanges' existing trading and market data access network to Verizon Business.
NASDAQ OMX is entrusting the day-to-day facility management of its core data-center infrastructure and services in the U.S. to a Verizon Business team, which will operate in-house. This will support the expansion of the exchange's co-location services in the U.S.
NASDAQ OMX's Nordic exchanges will move to an open connectivity model as of January 1, 2010, when trading and market data customers of NASDAQ OMX's Nordic Exchanges across Europe will be able to select their carrier of choice. As a result of this, the group is transitioning its proprietary Nordic access network to Verizon Business, where it will be integrated in the Verizon Financial Networking solution (VFn), a dedicated solution for the financial services community. The VFn offers financial customers a highly scalable and low latency solution for both trading and market data that includes dedicated, end-to-end support.
Carl-Magnus Hallberg, Senior Vice President, Global IT Services, NASDAQ OMX, commented: "The use of Verizon data center services is an example of our continuous innovation and leadership in providing the best experience for customers who trade and do business with our markets around the world. In addition, the open connectivity model helps us better support our global customers in the new financial markets environment. Verizon is a trusted partner that understands our business and has the global capabilities and expertise to support us as we continue to grow."
Blair Crump, Senior Vice President of worldwide sales for Verizon Business, said: "Our relationship with NASDAQ OMX goes far beyond a traditional partner model. We are effectively part of the company's operational and strategic infrastructure, working alongside the core team to help them deliver current and future business plans for the company's customers. For more than 20 years, we've been delivering innovative technology-based trading solutions for NASDAQ OMX, and we look forward to continuing to put technology to work for our global financial services customers worldwide."