OMX, a leading expert in the exchange industry, has signed a contract to deliver and support a new trading system for DEX, the new Canadian derivatives market. DEX is jointly owned by TSX Group Inc., the leading Canadian exchange group for Canadian equity and energy securities, and International Securities Exchange (ISE), the world’s largest equity options exchange. OMX will be the system provider for the license, customization, implementation and support of DEX’s new derivatives trading system. DEX is scheduled to begin operations in March 2009.
"We are excited to expand upon our technology partnership with OMX to deliver a superior technology platform for DEX," said Thomas Ascher, ISE’s chief strategy officer and a director of DEX. "Building a stable and high-performance technology infrastructure is clearly a critical element that will enable the success of our venture with TSX, and we are confident that we will be able to achieve those objectives with the OMX solution."
"The growth potential for derivatives in Canada is enormous," said Rik Parkhill, president TSX Markets and a director of DEX. "The agreement with ISE and OMX gives DEX a solid foundation from which to build its Canadian derivatives business and to offer our customers maximum flexibility and choice."
"We are thrilled to be working hand-in-hand with one of our key clients, ISE, to bring a proven technology solution to a new market," said Markus Gerdien, president, Market Technology, OMX. "This venture brings our relationship with ISE to a new level as we leverage our combined expertise to deliver and maintain the DEX platform and further strengthen our position in North America."
DEX, which is scheduled to launch in March 2009, will list and trade options, futures and options on futures on a wide variety of Canadian securities. Among the products to be listed on DEX will be derivative products based on the S&P*/TSX Equity indices.
