Nasdaq and OPCOM Sign New Market Technology Agreement
The Romanian market operator's new trading engine and clearing technology will be running on the Nasdaq Financial Framework; marks 14-year anniversary of technology partnership
STOCKHOLM, Sweden and BUCHAREST, Romania, Feb. 14, 2018 (GLOBE NEWSWIRE) -- Nasdaq Inc. (Nasdaq:NDAQ) and Operatorul Pietei de Energie Electrica si Gaze Naturale (OPCOM) have signed a new market technology agreement for Nasdaq to deliver new matching engine and clearing technology via the Nasdaq Financial Framework architecture to Romania's market operator for gas and electricity. OPCOM will leverage the modular functionality of the Nasdaq Financial Framework to offer additional services to their members and clients. This new agreement marks the next chapter in the technology relationship of the two companies which began in 2005.
"OPCOM is strongly committed to providing the best services for market participants, and in doing so, will continue to be supported in the next evolution of its market technology by Nasdaq," said Victor Ionescu, CEO, OPCOM. "Since 2005, OPCOM's platform has operated on Nasdaq technology, which has over the years supported several market mechanisms implemented by OPCOM. In addition, the partnership between Nasdaq and OPCOM has brought added value into Romania's energy market, while also strengthening market participant confidence, and also greatly contributed to the implementation of a new important legal framework in the energy domain. Our new technology upgrade will truly benefit this framework, our clients and our future."
"As critical infrastructure of Romania's energy and capital market, OPCOM has demonstrated a strong dedication in investing in its technology and operations," said James Martin, Regional Manager, EMEA, Market Technology, Nasdaq. "By running trading and clearing technology on the Nasdaq Financial Framework, OPCOM can seamlessly build and expand its business and capabilities to the benefit of its clients, partners and investors. We look forward to forging ahead in the next chapter of our successful partnership."
Nasdaq's market infrastructure technologies, including trading, real-time risk, index, clearing, CSD and market surveillance systems are operated in more than 100 marketplaces, regulators, clearinghouses and central securities depositories across the Americas, Europe, Asia, Australia, Africa, the Middle East and the Caribbean.
Nasdaq (Nasdaq:NDAQ) is a leading global provider of trading, clearing, exchange technology, listing, information and public company services. Through its diverse portfolio of solutions, Nasdaq enables customers to plan, optimize and execute their business vision with confidence, using proven technologies that provide transparency and insight for navigating today's global capital markets. As the creator of the world's first electronic stock market, its technology powers more than 90 marketplaces in 50 countries, and 1 in 10 of the world's securities transactions. Nasdaq is home to approximately 3,900 total listings with a market value of approximately $12 trillion. To learn more, visit: http://business.nasdaq.com
OPCOM is the Romanian Electricity and Gas Market Operator. Since 2000, OPCOM has been committed to strengthen a market place where energy and environmental certificates are traded in conditions of transparency and integrity. Today, the trading portfolio offered by OPCOM ranges from electricity products to gas products, as well as green certificates. More than 900 companies are using the products available for trading on short-term electricity and green certificates markets as well as on term markets for electricity, gas and green certificates bilateral contracts. In addition to this role, OPCOM is responsible for settlement of the transactions concluded on short-term electricity markets, Balancing Market as well as the Imbalances of the Balancing Responsible Parties. Today, OPCOM is acting as Registered Reporting Mechanism under REMIT for more than 450 companies active on its electricity and gas markets. OPCOM is also a Nominated Electricity Market Operator designated according to the Regulation (EU) 2015/1222 for performing the day-ahead and intraday markets coupling for Romania.
OPCOM is applying the Quality Management System complying with ISO 9001 - SR EN ISO 9001, respectively the Information Security Management System complying with ISO/IEC 27001- SR ISO/IEC 27001, both systems being certified by Lloyd's Register LRQA. For additional information about OPCOM, please visit us at www.opcom.ro.
For Media Inquiries:
Direct: +44 (0) 20 3753 2231
Mobile: +44 (0) 7809 596 390
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Nasdaq via Globenewswire
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