Seoul, 12 September 2013: NYSE Technologies, the commercial technology division of NYSE Euronext (NYX) and KOSCOM, the technology firm created by the Korean Ministry of Finance and Korea Exchange, have signed a Global Trading Hub Connectivity Agreement. The agreement will empower local traders and strengthen the Memorandum of Understanding (MOU) signed by both organizations in March 2012.
In partnership with KOSCOM, NYSE Technologies has agreed to cross-connect its 1,300 member MarketplaceTM trading community to KOSCOM’s STP Hub of 130 key Korean firms. This linkage provides customers of both KOSCOM and NYSE Technologies with cost-effective, streamlined FIX connectivity which facilitates cross-border trading and enhanced client access to available liquidity venues.
NYSE Technologies and KOSCOM will continue to identify additional value-added opportunities based on complementary products and expertise. Other initiatives could range from facilitating the provision of market data services which support bi-directional international capital market investments; or partnering in the creation of innovative solutions in preparation of changes and fragmentation in the Korean market.
“This agreement reinforces the cooperation program between NYSE Technologies and KOSCOM to promote international capital market flows premised on joint technology solutions,” said Daniel Burgin, Head of NYSE Technologies Asia Pacific. “The seamless linkage of our MarketplaceTM community network in collaboration with Koscom’s STP FIX network represents an important next step towards creating a powerful joint offering for the Korean market, the Asia Pacific region and the global capital markets community.”
“We anticipate that this joint business initiative will provide diverse trading opportunities of global financial products to domestic traders. KOSCOM aims to enhance its global competitiveness and attract capital markets flow into Korea through this agreement that emphazises our long-term cooperative action with NYSE Technologies. It is a proactive response to our country’s deregulation measures.” said InSoo Kim, Deputy President of KOSCOM.
Media Contact: Adaora Anunoby:aanunoby@nyx.com/ +44 207 379 2316
About NYSE Technologies
A division of NYSE Euronext (NYX), NYSE Technologies provides broadly accessible, comprehensive connectivity and transaction capabilities, data and infrastructure services, and managed solutions for a range of customers requiring next-generation performance and expertise for mission critical and value-added trading services. NYSE Technologies offers a diverse array of products, services and solutions to: the Buy Side, including order routing, liquidity discovery and access to a community of over 630 Broker-Dealers and execution destinations globally; the Sell Side, including high performance, end-to-end messaging software and innovative market data products delivered on the world's largest, most reliable financial transaction network; and Market Venues and Exchanges, including multi-asset exchange platform services, managed services and expert consultancy.
With offices across the U.S., Europe, and Asia, NYSE Technologies offers advanced integrated solutions for the global capital markets community, earning the ability to power trading operations for many of the world's best financial institutions and exchanges. For additional information visit: www.nyse.com/technologies.
About NYSE Euronext
NYSE Euronext (NYX) is a leading global operator of financial markets and provider of innovative trading technologies. The company's exchanges in Europe and the United States trade equities, futures, options, fixed-income and exchange-traded products. With approximately 8,000 listed issues (excluding European Structured Products), NYSE Euronext's equities markets - the New York Stock Exchange, NYSE Euronext, NYSE MKT, NYSE Alternext and NYSE Arca - represent one-third of the world’s equities trading, the most liquidity of any global exchange group. NYSE Euronext also operates NYSE Liffe, one of the leading European derivatives businesses and the world's second-largest derivatives business by value of trading. The company offers comprehensive commercial technology, connectivity and market data products and services through NYSE Technologies. NYSE Euronext is in the S&P 500 index. For more information, please visit: http://www.nyx.com.
Disclaimer
None of the information contained in this press release constitutes an offer, solicitation or recommendation to acquire or dispose of any security or investment or to engage in any other transaction or to provide legal, tax, accounting or investment advice or services regarding the suitability or profitability of any security or investment. The creation of rights and obligations in respect of financial products that are traded on the exchanges operated by NYSE Euronext’s subsidiaries shall depend solely on the applicable rules of the market operator. NYSE Euronext offers no view on whether investments are appropriate for you and recommends you obtain independent advice in respect of such investments. Persons wishing to trade products available on NYSE Euronext markets or wishing to offer such products to third parties (whether by way of admission to listing and/or trading of products, or otherwise) are advised, before doing so, to check their legal and regulatory position in the relevant territory and to understand the related risks. NYSE Euronext does not make any recommendations regarding the merit of any company, security or other financial product or investment identified in this press release. Similarly, NYSE Euronext does not make any recommendation regarding the purchase or sale of any company, security, financial product or investment, endorsed or sponsored by any company identified in this press release. This press release is not intended to be, and shall not constitute in any way a binding or legal agreement, or impose any legal obligation or duty on NYSE Euronext or any of its affiliates. This press release speaks only as of this date. NYSE Euronext disclaims any duty to update the information herein. NYSE Euronext refers to NYSE Euronext and its affiliates and references to NYSE Euronext in this publication include each and any such company as the context dictates. NYSE Euronext, New York Stock Exchange, NYSE MKT, NYSE Alternext, EnterNext, NYSE Arca and NYSE Liffe are registered marks of NYSE Euronext. © 2013, NYSE Euronext – All rights reserved.
About Koscom
In 1977, Koscom was established by the Ministry of Finance and the Korea Exchange to computerize the securities markets and related industries systems. Since its foundations, Koscom, as a professional financial IT solution firm, has led the development of the Korea securities and futures market through providing total financial IT infrastructure. Koscom also provide market information to market participants-providing solutions and real-time market information. To enhance the financial IT, Koscom has managed the public IT infrastructures for securities industries and other related systems. For additional information visit: http://english.koscom.co.kr