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OMX ISK
OMX signs agreement with GFG   20.3.2007 13:16:32
News categories: Corporate news      Íslenska  English
OMX signs agreement with GFG to launch the world’s first recognized marketplace for real estate securities

OMX signs agreement with GFG to launch the world’s first recognized marketplace for real estate securities

 

OMX, the leading expert in the exchange industry, announced today that it has entered into a multi-year agreement with Global Financial Group (GFG) for the implementation and facilities management of its fully automated electronic trading system for egX, the world’s first recognized marketplace for real estate securities.

 

Under the terms of the agreement, OMX will provide egX Markets with a flexible, high performance and scalable trading solution based on proven trading technology from OMX. As part of the collaboration, OMX will also provide a managed services solution for the deployment and operation of egX’s global trading system. egX Markets is a wholly owned subsidiary of GFG.

 

“Expertise is about mastering change. The business environment is becoming increasingly complex, and competitive positions shift among market players while the pace of change continues to accelerate,” commented Leo Chamberland, President and CEO of GFG. “The international penetration achieved by OMX and the global operational experience OMX brings to the table will be instrumental in the realization of our principal objective to establish egX as a global marketplace.”

 

“OMX looks forward to partnering with egX to launch this innovative new market for the trading of real estate securities,” said Markus Gerdien, President Business Area Market Technology, OMX. “As a technology provider to over 60 exchanges in more than 50 countries, we understand the unique requirements of egX, and the combination of our securities industry expertise and technology resources will provide egX with a firm footing to establish and grow this exciting new marketplace.”

 

For more information, please contact:

Niclas Lilja, Press Relations, OMX                                                         +46 8 405 63 95

 

 

About OMX | OMX is a leading expert in the exchange industry. Through the Nordic Exchange, OMX offers access to approximately 80 percent of the Nordic and Baltic securities market. The Nordic Exchange is a term used for marketing purposes and is not a legal entity. It describes the common offering from the Helsinki Stock Exchange, Copenhagen Stock Exchange, Stockholm Stock Exchange, Iceland Stock Exchange, Tallinn Stock Exchange, Riga Stock Exchange and Vilnius Stock Exchange. OMX integrated technology solutions cross the transaction chain enabling efficient securities transactions for over 60 exchange organizations in more than 50 countries. OMX is a Nordic Large Cap company in the Financials sector on the OMX Nordic Exchange. For more information, please visit www.omxgroup.com

 

About Global Financial Group | GFG, through its wholly owned subsidiary egX Markets, is developing the egX, a global securities exchange system designed for the listing and trading of real estate securities. The Company will launch its first marketplace in Canada under egX Canada, a wholly owned subsidiary of GFG. Following the launch of egX in Canada, GFG intends to develop its model internationally, creating a global market for real estate securities. For additional information, please visit www.investment.com.

 


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