Nasdaq OMX Combines Data, Index Operations
January 30, 2013
Nasdaq is combining its Global Data Products and Index businesses to leverage its exchange technology. NYSE Euronext to offer enhanced governance solutions. MCX-SX Goes Live with equity trading. GCI to provide ECN trading.
NASDAQ OMX: The exchange operator is combining its Global Data Products and Global Index businesses. The new business will be led by John L. Jacobs, Executive Vice President of Nasdaq OMX, and operate under the name Global Information Services.
"Combining these business areas allows us to better take advantage of the sweet spot they inherently both share: distribution of data and the delivery of innovative products that provide market insight and transparency," said Bob Greifeld, President and CEO, Nasdaq OMX. "In addition, our product development and strategic expertise will enable us to broaden this offering as we strive to become one of the top global information providers in the financial services industry."
Currently, Global Data Products delivers historical and real-time market data to 2.5 million financial professionals and individual investors in 83 countries worldwide. Nasdaq OMX has been creating innovative and transparent indexes since 1971. Currently, there are over 7,000 products based on Nasdaq OMX indexes, spanning different geographies and asset classes with nearly $1 trillion in notional value.
The combination will take advantage of Nasdaq’s exchange technology, for growth in size and operations.
NYSE Euronext: Corpedia and Corporate Board Member, two NYSE Euronext companies, have begun to work together to deliver a suite of products to help companies more effectively manage themselves. The Corporate Governance Leadership Suite consists of three tracks, which include comprehensive tools and resources to help senior governance officers advance best practices for compliance and governance.
Through membership in Corpedia’s enhanced Business Ethics Leadership Alliance (BELA), the Ethics & Compliance Track helps companies navigate complex regulatory and legislative mandates. BELA promotes continual advancement of corporate ethics and compliance, by raising the profile of ethics as a part of an organization’s competitive business strategy.
MCX-SX: The India exchange will commence live trading in equities on February 11, two days after Finance Minister P Chidambaram inaugurates equity trading platform of MCX-Stock Exchange.
MCX-SX has been providing a trading platform for currency derivatives and will become a full-fledged securities exchange after the launch of equities, equity derivatives, bonds and interest rate derivatives.
MCX-SX received last month the 'commencement certificate' from India’s securities market regulator to go live with its trading operations as a full-fledged bourse.
AlgoNet: The low latency European exchange network has added Kyte Group as a customer. KYTE and clients can now access the AlgoNet network, including co-location at major trading venues.
Also offered over the AlgoSpan infrastructure is low latency normalized market data (AlgoData), for all the major European markets.
GCI trading: The company now offers trading on electronic communications networks as part of its MetaTrader4 trading platform.The fees are built into the spread. No commissions are added. Customers have access to deep liquidity and interbank pricing and execution. All instruments in the “Forex-ECN” folder are tradeable through an ECN.