OMX in five-year deal with Borsa Italiana

Sweden’s OMX, a leading expert in the exchange industry, has sealed a five-year deal to provide information technology operations for Borsa Italiana’s derivatives market (IDEM).

OMX, which currently operates 16 exchanges, will provide the central systems infrastructure, technical operations, systems surveillance and network services.

OMX will work in close partnership with BIt Systems, which will be responsible for members' connectivity, customer support and application management.

Massimo Capuano, president and chief executive officer of Borsa Italiana, said the contract was required to support the growth of the Italian exchange-traded derivatives market: “In 2006, IDEM is continuing to grow at a fast pace, trading about 140,000 standard contracts, or €5 billion a day – a growth of 34% compared to the same period last year," he said. "This new joint service model allows Borsa Italiana to support this growth, maintaining very high standards of quality and efficiency for its derivatives market.”