The Nasdaq OMX Group (Nasdaq:NDAQ) and Bolsa Electronica de Chile (BEC) today signed a strategic alliance which will provide BEC with the Nasdaq OMX market technology, exchange trading, and advisory services for product development and global visibility.
BEC and its members will benefit from significant enhancements in performance, latency and throughput capacity by shifting to NASDAQ OMX's proven exchange technology. BEC members will remain connected via the FIX trading protocol for a seamless system shift. NASDAQ OMX market technology is used by over 70 exchanges in 50 countries.
Through the strategic alliance, NASDAQ OMX will advise BEC on their efforts to cross-list shares, develop new indices, improve existing indices and begin a case study to create peso-dollar futures for trading on NASDAQ OMX exchanges. Also, NASDAQ OMX will provide global visibility resources for promotion and marketing.
Fernando Canas, President of BEC, said: "NASDAQ OMX market technology will open the doors to achieve real interconnection for investors who wish to enter the Chilean marketplace and the advisory services will help us create new instruments for investors around the world.
"Our alliance with NASDAQ OMX will support areas of BEC strategic development like technology implementation and partnerships for new products."
Lars Ottersgard, Senior Vice President NASDAQ OMX Market Technology, commented: "We are extremely proud of our alliance with Bolsa Electronica de Chile, who shares our vision of innovation through electronic markets.
"Together, BEC and NASDAQ OMX will build a community of participants, issuers and investors in Latin America who seek an efficient marketplace and innovative products."