NYMEX Europe Limited has signed a five-year agreement with OMX for IT infrastructure services for the open outcry futures exchange it plans to open in London. The agreement, which follows an earlier decision by NYMEX Europe to lease space in OMX’s London office, includes hosting its European IT infrastructure as well as desktop and network support for its trading floor.
“We chose to work with OMX to take advantage of their broad experience as an IT provider of mission critical systems for the financial services industry and to enable us to be up and running quickly,” says Samuel Gaer, CEO of NYMEX Europe Limited. “OMX has a long track record serving exchanges, and we look forward to deepening our relationship with OMX as we continue to grow and expand our business globally.”
This deal represents a further expansion of OMX’s Global Services business, in this case supporting financial applications not originally developed by OMX. OMX considers itself a “strong niche player” in facilities management, capitalising on its knowledge of the securities industry and experience in developing and hosting financial applications.
President of OMX Americas, Roland Tibell says the company is honoured to be chosen by NYMEX. “This relationship reflects OMX’s strong position in Europe and the Americas and represents a strong vote of confidence in OMX as a provider of IT infrastructure services,” he says.
NYMEX Europe will initially offer open outcry trading of Brent crude oil and gasoil futures.