OMX to deliver exchange trading platform to the Indian Energy Exchange (IEX)
IEX's exchange trading system from OMX is on target for launch in Q2. IEX, that
aims to start a countrywide market for trading in electricity, will use OMX
technology for trading and clearing. Nord Pool, who was recently acquired by
OMX, provides spot market technology through its SAPRI system. The agreement
includes implementation and support as well as software licenses from OMX, Nord
Pool and FTIL.
“As the first ever energy exchange in India, IEX constitutes a milestone
project for OMX, and we are excited to contribute to the energy deregulation in
one of the world's fastest growing economies,” says Markus Gerdien, President
Market Technology at OMX. “After completing the training program, we now look
forward to taking the next step in supporting IEX's launch of a world-class
energy trading solution for India.”
“Training of our members and users is a critical success factor for running
India's first ever energy exchange, and we are very pleased with the outcome of
the program,” said Joseph Massey, Director at IEX. “The implementation work
with OMX, Nord Pool and FTIL is going according to plan, helping us create a
solid technological platform on which to operate our new exchange.”
For more information, please contact:
Carl Norell, OMX Media Relations
+46 8 405 6639, carl.norell@omxgroup.com
About OMX | OMX is a leading expert in the exchange industry. The OMX Nordic
Exchange comprises over 800 companies including its alternative market First
North. OMX provides technology to over 60 exchanges, clearing organizations and
central securities depositories in over 50 countries. The Nordic Exchange is
not a legal entity but describes the common offering from OMX exchanges in
Helsinki, Copenhagen, Stockholm, Iceland, Tallinn, Riga, and Vilnius. OMX is a
Nordic Large Cap company in the Financials sector on the OMX Nordic Exchange.
For more information, please visit www.omxgroup.com.
