Nasdaq OMX Combines Tech, Clearing, Info Services
January 17, 2013
Nasdaq OMX Group said it created a Global Technology Solutions operating unit, which will combine its market technology and clearing services, as well as information services it delivers to corporations.
The operating unit will combine Nasdaq OMX’s existing Market Technology business, its Corporate Solutions business and investor and public relations businesses being acquired from Thomson Reuters .
Anna Ewing, the exchange operator’s long-time chief information officer, was named to head the unit. Nasdaq said it also hired Bradley J. Peterson from Charles Schwab &Co., to replace Ewing as CIO. Peterson will report to Ewing.
Ewing was not immediately available for comment.
The Market Technology business sells Nasdaq’s INET high-speed trading technology and related advisory services to roughly 70 exchanges around the world, including venues in Hong Kong, Chile, New Zealand and elsewhere. The unit also provides clearing services, handles securities deposits, and provides risk management and surveillance technologies to financial services firms.
The SMARTS surveillance technology business acquired three years ago from an Australian startup will be part of the Global Technology Solutions business, while FTEN, which develops risk management technologies for trading systems, will remain part of Nasdaq Transaction Services.
The Corporate Solutions business includes Directors Desk, which provides boards of directors with market intelligence, communications and other services. The unit also includes a variety of public relations services and financial report filing services, among others.
A month ago, Nasdaq said it was acquiring the investor relations, public relations and multimedia services business of Thomson Reuters,the global information services firm, and folding them into Corporate Solutions.
Nasdaq OMX will treat the Global Technology Solutions business as a separate business segment in future financial reports. For accountingpurposes, the reporting already became effective January 1.
In the most recent four fiscal quarters, Nasdaq reported $184 million of revenue from its Market Technology business and $96 million from Listings and Corporate Solutions.