NEW YORK, Oct. 15, 2009 (GLOBE NEWSWIRE) -- The NASDAQ OMX Group, Inc. (Nasdaq:NDAQ), the world's largest exchange company, today announced that it plans to launch a third equity trading platform during the second half of 2010, pending SEC approval. NASDAQ OMX will offer this equity trading platform with a new price/size priority model using the license acquired from its 2007 acquisition of the former Philadelphia Stock Exchange, known today as NASDAQ OMX PHLX.
NASDAQ OMX's new equity price/size priority market structure is currently not offered on The NASDAQ Stock Market, NASDAQ OMX BX, or any other U.S. equity trading platform. The new model gives customers the ability to choose how to execute orders by either selecting a price/size priority model on NASDAQ OMX PHLX or a price/time priority model available on the exchange's other two U.S. equity trading platforms. NASDAQ OMX's new equity platform will also run on the INET technology to leverage the speed and efficiency benefits offered throughout NASDAQ OMX globally.
"NASDAQ OMX is pleased to continue its tradition of offering customers additional choices that will help supplement their various trading strategies. Based on feedback from key customers we decided to announce the launch of this trading platform that offers a new competitive equity market structure model," commented Eric Noll, Executive Vice President, NASDAQ OMX Group. "Furthermore, we are happy to extend one of the many assets of our acquisition of The Philadelphia Stock Exchange, yet again, to provide the benefits to our equity trading customers," added Mr. Noll.
Currently, The NASDAQ Stock Market and NASDAQ OMX BX offer customers a price time priority model with different pricing and functionality. NASDAQ OMX will reactivate its NASDAQ OMX PHLX equity license. NASDAQ OMX PHLX today operates a leading equity options trading business. Today, NASDAQ OMX also offers two diverse market structures for equity options trading in the U.S. with The NASDAQ Options Market and NASDAQ OMX PHLX, the third largest U.S. options market.
About NASDAQ OMX
The NASDAQ OMX Group, Inc. is the world's largest exchange company. It delivers trading, exchange technology and public company services across six continents, with over 3,700 listed companies. NASDAQ OMX offers multiple capital raising solutions to companies around the globe, including its U.S. listings market, NASDAQ OMX Nordic, NASDAQ OMX Baltic, NASDAQ OMX First North, and the U.S. 144A sector. The company offers trading across multiple asset classes including equities, derivatives, debt, commodities, structured products and exchange-traded funds. NASDAQ OMX technology supports the operations of over 70 exchanges, clearing organizations and central securities depositories in more than 50 countries. NASDAQ OMX Nordic and NASDAQ OMX Baltic are not legal entities but describe the common offering from NASDAQ OMX exchanges in Helsinki, Copenhagen, Stockholm, Iceland, Tallinn, Riga, and Vilnius. For more information about NASDAQ OMX, visit http://www.nasdaqomx.com. Please follow NASDAQ OMX on Facebook (http://www.facebook.com/pages/NASDAQ-OMX/108167527653) and Twitter (http://www.twitter.com/nasdaqomx).
Cautionary Note Regarding Forward-Looking Statements
The matters described herein contain forward-looking statements that are made under the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements include, but are not limited to, statements about listings on The NASDAQ Stock Market and NASDAQ OMX's other products and offerings. We caution that these statements are not guarantees of future performance. Actual results may differ materially from those expressed or implied in the forward-looking statements. Forward-looking statements involve a number of risks, uncertainties or other factors beyond NASDAQ OMX Group's control. These factors include, but are not limited to factors detailed in NASDAQ OMX Group's annual report on Form 10-K, and periodic reports filed with the U.S. Securities and Exchange Commission. We undertake no obligation to release any revisions to any forward-looking statements.
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