STOCKHOLM, Sweden, Apr 28, 2009 (GlobeNewswire via COMTEX News Network) -- The NASDAQ OMX Group, Inc. (Nasdaq:NDAQ) reported the successful launch of Iraq Stock Exchange's (ISX) new trading and clearing system based on NASDAQ OMX technology. The launch, which took place on April 19th, marks a historic milestone in Iraq who with ISX's new exchange platform moves to electronic trading for the first time. NASDAQ OMX has provided equities trading and clearing technology to ISX's system, which was implemented by prime contractor United Services, and supported by funding from the U.S. government.
"We are pleased and honored to provide a trading platform to ISX that will act to increase its visibility and credibility towards foreign investors," said Lars Ottersgard, Senior Vice President NASDAQ OMX Market Technology. "An efficient trading and clearing system is instrumental in creating investor awareness and thus attract liquidity, and we are confident that this new platform will support continued growth at ISX."
Upon launch five of ISX's 91 listed companies were available for electronic trading, while others will be added over the next several months. The ISX Chairman, Mr. Nawsheruan Baban and ISX CEO Mr. Taha Abdul Salam stated: "We are enthusiastic about the potential for increased foreign investment on the ISX."
About NASDAQ OMX
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 offers multiple capital raising solutions to companies around the globe, including its U.S. listings market, NASDAQ OMX Nordic, NASDAQ OMX Baltic, NASDAQ OMX First North, and the U.S. 144A sector. The company offers trading across multiple asset classes including equities, derivatives, debt, commodities, structured products and exchange-traded funds. NASDAQ OMX 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 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.
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SOURCE: The NASDAQ OMX Group, Inc.
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