Nasdaq Inc. (Nasdaq:NDAQ) and Operatorul Pietei de Energie Electrica si Gaze Naturale (OPCOM) have signed a new market technology agreement for Nasdaq to deliver new matching engine and clearing technology via the Nasdaq Financial Framework architecture to Romania's market operator for gas and electricity.
OPCOM will leverage the modular functionality of the Nasdaq Financial Framework to offer additional services to their members and clients. This new agreement marks the next chapter in the technology relationship of the two companies which began in 2005.
"OPCOM is strongly committed to providing the best services for market participants, and in doing so, will continue to be supported in the next evolution of its market technology by Nasdaq," said Victor Ionescu, CEO, OPCOM. "Since 2005, OPCOM's platform has operated on Nasdaq technology, which has over the years supported several market mechanisms implemented by OPCOM. In addition, the partnership between Nasdaq and OPCOM has brought added value into Romania's energy market, while also strengthening market participant confidence, and also greatly contributed to the implementation of a new important legal framework in the energy domain. Our new technology upgrade will truly benefit this framework, our clients and our future."
"As critical infrastructure of Romania's energy and capital market, OPCOM has demonstrated a strong dedication in investing in its technology and operations," said James Martin, Regional Manager, EMEA, Market Technology, Nasdaq. "By running trading and clearing technology on the Nasdaq Financial Framework, OPCOM can seamlessly build and expand its business and capabilities to the benefit of its clients, partners and investors. We look forward to forging ahead in the next chapter of our successful partnership."