Borsa Istanbul Signs Landmark Deal with Nasdaq OMX
Under the agreement, Nasdaq OMX will deliver a range of technology suites for trading, clearing, market surveillance and risk management, covering all asset classes, as well as providing advisory services. Nasdaq OMX will also take a five percent equity stake in Borsa Istanbul, with the option to increase it by an additional two percent. Nasdaq OMX will receive a series of cash payments to conclude the deal.
"This new partnership is a milestone for our market technology business," says Lars Ottersgård, senior vice president and head of market technology at NASDAQ OMX. "By delivering our entire suite of technology solutions, including our advisory services, to Borsa Istanbul we show the depth and breadth of NASDAQ OMX's global offering. Establishing global capital markets is core to NASDAQ OMX's mission and we are pleased to be Turkey's partner in building efficient and effective functioning markets."
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