LONDON, July 6, 2009 (GLOBE NEWSWIRE) -- NASDAQ OMX Europe today announced that
it will provide order routing functionality to non-displayed markets from its
"lit" (displayed) book, including routing to NEURO Dark.
This new functionality will also enable order routing directly from NEURO Dark
to other non-displayed markets and provide participants with greater opportunity
for execution across multiple pools of non-displayed liquidity.
In addition, NEURO Dark will now use the European Best Bid and Offer (EBBO)* as
the reference price -- the price used to determine what price a security should
execute. Using the EBBO will provide greater opportunity for price improvement
within NEURO Dark by including the quotes from alternative venues, such as MTFs
and exchanges.
Charlotte Crosswell, President of NASDAQ OMX Europe, commented, "In this
increasingly fragmented market, firms are looking for more efficient ways to
access liquidity. Order routing is a key differentiator for NASDAQ OMX Europe
and we are committed to providing our customers with the most effective routing
strategies. Extending our routing offering to dark pools will mean that
customers can now gain access to both lit and dark venues through one single
connection, greatly improving their ability to seek out new liquidity."
NEURO Dark currently trades approximately 900 of the most actively traded
European blue chip shares.
The new functionality is due to go live in July, subject to the conclusion of
ongoing discussions with the FSA.
* EBBO pricing is determined by the best bid and offer price available on the
primary markets or MTFs.
ABOUT NASDAQ OMX EUROPE
NASDAQ OMX Europe, the most competitively priced multilateral trading facility
in Europe, is the first platform to connect European liquidity pools with
Pan-European routing. NASDAQ OMX Europe currently trades approximately 900
securities including constituents of the main European indices, ETFs and other
highly liquid securities. For more information about NASDAQ OMX Europe, visit
www.nasdaqomxeurope.com.
NEURO and NEURO Dark are trading names of NASDAQ OMX Europe Limited, which is
authorised and regulated by the Financial Services Authority. Insofar as the
content of this communication is considered a financial promotion for the
purposes of section 21 FSMA 2000, it is not communicated or approved by a person
authorised under FSMA. This communication is directed only at persons to whom
NASDAQ OMX Europe may lawfully make financial promotions (Relevant Persons)
including persons who have professional experience in matters relating to
investments who are "investment professionals" within the meaning of article 19
of the FSMA (Financial Promotion) Order of 2005. This communication must not be
distributed to, acted on or relied upon by persons who are not Relevant Persons.
ABOUT THE NASDAQ OMX GROUP
The NASDAQ OMX Group, Inc. is the world's largest exchange company. It delivers
trading, exchange technology and public company services across six continents,
with over 3,800 listed companies. NASDAQ OMX Group offers multiple capital
raising solutions to companies around the globe, including its U.S. listings
market; NASDAQ OMX Nordic, NASDAQ OMX Baltic, including First North; and the
U.S. 144A sector. The company offers trading across multiple asset classes
including equities, derivatives, debt, commodities, structured products and
ETFs. NASDAQ OMX Group technology supports the operations of over 70 exchanges,
clearing organizations and central securities depositories in more than 50
countries. NASDAQ OMX Nordic and NASDAQ OMX Baltic are not legal entities but
describe the common offering from NASDAQ OMX Group exchanges in Helsinki,
Copenhagen, Stockholm, Iceland, Tallinn, Riga, and Vilnius. For more information
about NASDAQ OMX, visit http://www.nasdaqomx.com.
Cautionary Note Regarding Forward-Looking Statements
The matters described herein contain forward-looking statements that are made
under the Safe Harbor provisions of the Private Securities Litigation Reform Act
of 1995. These statements include, but are not limited to, statements about
NASDAQ OMX's products and offerings. We caution that these statements are not
guarantees of future performance. Actual results may differ materially from
those expressed or implied in the forward-looking statements. Forward-looking
statements involve a number of risks, uncertainties or other factors beyond
NASDAQ OMX's control. These factors include, but are not limited to, factors
detailed in NASDAQ OMX's annual report on Form 10-K, and periodic reports filed
with the U.S. Securities and Exchange Commission. We undertake no obligation to
release any revisions to any forward-looking statements. There can be no
assurance that the FSA will give the NASDAQ OMX applicant the authorization and
permissions which it seeks.
NDAQG
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CONTACT: NASDAQ OMX Europe
Media Contacts:
Bethany Sherman
+1(212) 401-8714
bethany.sherman@nasdaqomx.com
Anna Rasin
+46(8)405 66 12
anna.rasin@nasdaqomx.com
