Nasdaq OMX has acquired 25 percent of The Order Machine (TOM), a Dutch cash equities and equity derivatives trading venue.
The deal also includes an option for Nasdaq OMX to acquire an additional 25.1 percent to secure a majority stake. Nasdaq OMX will be the market operator for TOM through its Genium INET trading platform in London.
"This transaction creates a compelling combination of technology, market expertise, and geographic opportunity," says Hans-Ole Jochumsen, executive vice president of global data products and transaction services within the Nordics at Nasdaq OMX. "As the only derivatives multilateral trading facility in Europe with a retail focus, TOM has secured significant market share in single stock options. We intend to leverage their first-mover advantage and seize the opportunities created by the regulatory environment in Europe, by expanding investor access to products and markets that improve price discovery and lower trading costs."
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