New NASDAQ OMX trading system

VILNIUS — Following its campaign of integrating its exchanges around the world, NASDAQ OMX announced Monday that the INET trading system is now operational for the Nordic and Baltic exchanges.

The INET trading platform is currently operating the NASDAQ Stock Market in U.S. and the company’s London-based MTF, NASDAQ OMX Europe, and as of today will be utilized across all NASDAQ OMX equities markets in the world. The implementation of INET gives the equities markets in the Nordics (Copenhagen, Helsinki, Iceland and Stockholm) and the Baltics (Riga, Tallinn, and Vilnius) the same trading system, the same system interface, as well a market model and order types similar to trading on NASDAQ Stock Market in New York.

“This trading system shift is one of the biggest infrastructural changes in the history of the Nordic and Baltic equities markets,” Hans-Ole Jochumsen, the president of NASDAQ OMX Nordic said. “With INET in place we can offer investors access to the world’s fastest and most scalable trading system. This will allow us to grow volumes and liquidity, which benefits all investors and ultimately the regional economies. It will enable us as an exchange and the Nordics and Baltic regions to better compete in Europe’s increasingly competitive trading environment.”

The OMX Baltic Benchmark GI increased 2 percent Monday upon hearing the news, while the reaction in the Nordic markets was more mixed.

The implementation of INET is part of an integration campaign NASDAQ OMX is on; by the middle of this year, the three Baltic exchanges will be morphed into a single exchange, which analysts say should make foreign investment more convenient.

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