The NASDAQ OMX Group, Inc. will provide trading and clearing operations to a new Dutch equities search engine TOM (The Order Machine).
On 23 June 2009 TOM received an AMF (Dutch FSA) license to start up a execution service for equities, giving private investors access to professional markets and execution prices. Later this year, TOM aims to launch an execution service for derivatives in addition to shares.
“We are excited to be able to offer a unique best execution service using NASDAQ OMX technology and operation services. One of the key deciding factors for selecting NASDAQ OMX is the possibility to transition to their Next Generation Genium platform, which will give us unique speed and capacity advantages on both cash and derivatives trading,” says Henk Wim van Arem, management, TOM.
“TOM’s offer is perfectly aligned with what European investors are looking for today, and we look forward to working with them to ensure efficient market operations. The proven Nordic trading and clearing platform used by TOM will appeal to liquidity providers and ultimately help end-investors find best-execution prices,” says Henrik Paulsson, head of European Derivatives, NASDAQ OMX.
L.D.