The NASDAQ OMX Group, Inc. (Nasdaq:NDAQ) reports that NASDAQ OMX Nordic through the launch of commodities on the Genium INET platform has created an all-asset, cross-market technology platform. In line with the roadmap that was set out in 2008, all asset classes from all eight markets in Sweden, Finland, Denmark, Norway, Iceland, Lithuania, Latvia and Estonia are now tradable on one common INET-based technology platform.
Commodities is the final asset class to be migrated onto the Genium INET platform and includes a wide variety of power derivatives, carbon emission and natural gas derivatives that will now be traded on the same technology platform as stocks, bonds, equities and fixed income derivatives. Based on NASDAQ OMX's world-leading INET technology, Genium INET is a comprehensive multi-asset trading and clearing system with ultra low latency performance and high reliability and operating capacity.
Hans-Ole Jochumsen, President of NASDAQ OMX Nordic, said: "This marks a true milestone in NASDAQ OMX'shistory as we complete the pioneering technology roadmap that was initiated in 2008. The successful commodities launch on Genium INET allows our members to trade a comprehensive portfolio of power, carbon and gas products on the same best-in-class technology platform as we use for all other Nordic and Baltic products. Moreover, now customers can leverage clearing synergies through our Genium INET clearing platform by using NASDAQ OMX'sclearing house for commodities, fixed income and cash derivatives."
Anna Ewing, Chief Information Officer of NASDAQ OMX, commented: "The completion of our technology roadmap is a testament to NASDAQ OMX's commitment to innovation and our continuous strive to deliver the best possible trading experience for customers and investors. By using our world-leading INET technology as the technology backbone at all our European markets, we provide our members with a unique all-asset, cross-market offering that reinforces our company's ability to trade anything, anywhere."