The NASDAQ OMX Group, Inc. (Nasdaq:NDAQ) today announced that it has received the necessary regulatory approval for the completion of its acquisition of 25 percent of the Dutch cash equity and equity derivatives trading venue TOM, The Order Machine. The agreement also includes an option for NASDAQ OMX to acquire an additional 25.1 percent of the remaining shares to secure a majority stake in TOM.
With this acquisition, NASDAQ OMX continues to expand its derivatives presence across the European market. As the only Multilateral Trading Facility (MTF) in Europe trading derivatives with retail focus, TOM has secured significant market share in single stock options and index options in the Dutch market. Combining the technology and geographic reach of NASDAQ OMX with the market expertise and business model of TOM, this creates a strong platform for expansion in other European derivatives markets. The current shareholders will remain co-owners, as such, BinckBank and ABN Amro will provide order flow while Optiver and IMC will provide liquidity in the Dutch market.
“The business model of TOM has continued to be very successful,” said Hans-Ole Jochumsen, Executive Vice President, Transaction Services Nordics, NASDAQ OMX. “During the first quarter of 2013, TOM’s share of the Dutch equity derivatives market has risen to 20 percent. With this transaction completed, our partnership with TOM is further strengthened as we look to accelerate our expansion in the European equity derivatives market.”
