Henk Wim van Arem with TOM’s management said, “We are excited to be able to offer a unique best execution service using NASDAQ OMX technology and operation services. One of the key deciding factors for selecting NASDAQ OMX is the possibility to transition to their Next Generation Genium platform, which will give us unique speed and capacity advantages on both cash and derivatives trading.
Henrik Paulsson, Head of European Derivatives at NASDAQ OMX, said, “TOM’s offer is perfectly aligned with what European investors are looking for today, and we look forward to working with them to ensure efficient market operations. The proven Nordic trading and clearing platform used by TOM will appeal to liquidity providers and ultimately help end-investors find best-execution prices.”
TOM, The Order Machine, combines the best possible execution of stock exchange orders with an advantageous and transparent in-house trading platform. For clients of connected banks, TOM seeks out the best price at which an order can be executed on a variety of trading platforms. As a result of this, TOM is promoting the competition required by MiFID between stock exchanges and alternative trading platforms. Ultimately, the intended result is better prices for private end-investors. TOM is a 50/50 joint venture between BinckBank and Optiver. TOM has the ambition to expand to become a Multilateral Trading Facility (MTF).
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Cautionary Note Regarding Forward-Looking Statements
The matters described herein contain forward-looking statements that are made under the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements include, but are not limited to, statements about NASDAQ OMX’s products and offerings. We caution that these statements are not guarantees of future performance. Actual results may differ materially from those expressed or implied in the forward-looking statements. Forward-looking statements involve a number of risks, uncertainties or other factors beyond NASDAQ OMX’s control. These factors include, but are not limited to factors detailed in NASDAQ OMX’s annual report on Form 10-K, and periodic reports filed with the U.S. Securities and Exchange Commission. We undertake no obligation to release any revisions to any forward-looking statements.