Nasdaq and OPCOM sign new market technology agreement
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Nasdaq and OPCOM sign new market technology agreement 15 February 2018Bucharest Reporter: Jenna Lomax
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Nasdaq and Operatorul Pietei de Energie Electrica si Gaze Naturale (OPCOM) have signed a new market technology agreement.
The agreement will allow Nasdaq to deliver new matching engine and clearing technology to OPCOM, Romania's market operator for gas and electricity.
Nasdaq's Financial Framework technologies include trading, real-time risk, index, clearing, a central securities depository and market surveillance systems.
The agreement marks a 14-year anniversary of technology partnership between Nasdaq and OPCOM.
James Martin, regional manager, of Europe, Middle East and Africa market technology at Nasdaq, said: "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."
Victor Ionescu, CEO of OPCOM, commented: "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.”
He added: “Our new technology upgrade will truly benefit this framework, our clients and our future."
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