OM today announced the launch of Transaction Service Provider (TSP), an outsourcing solution exchanges and clearinghouses. With TSP, OM hosts operations at a “marketplace hotel”, a platform that is shared with other exchanges and clearinghouses.
“As markets shrink and competition increases, it’s vital that marketplaces automate with full electronic systems that enable them to react quickly to new market and instrument opportunities,” says Roland Tibell, President OM (US) Inc. & Financial Market Solutions. “It was a natural extension for OM, whose systems are used by more exchanges than any other marketplace system in the world today, to extend its solutions capabilities to meet the needs of all exchanges, regardless of their size.”
OM has been developing and operating transaction technology for large exchanges and clearinghouses since it started. In addition, OM manages data centers and client support operations around the world.
“OM’s experience in delivering mission critical trading applications is unparalleled,” said Ulf Carlsson, General Manager for business unit Marketplace Solutions within OM. “OM has both the business knowledge to develop sophisticated trading applications and the infrastructure to properly deliver, operate and support them. With TSP and TYZER, all exchanges and clearinghouses can take advantage of our expertise to compete successfully with the biggest players.”