October 25, 2002: OM, a world leading provider of transaction technology, and Korea Futures Exchange (KOFEX) have successfully completed trials of expanding KOFEX's central systems powered by OM. KOFEX has been an OM customer since 1999, using OM's CLICK trading platform and SECUR clearing platform solutions.
The trials were executed in preparation of handling the large trading volumes associated with the KOSPI200 index futures and options products. The KOSPI200 products are due to start trading at KOFEX from the 1st of January 2004. The results show that OM's systems were able to support more than 115 trades per second, nearly double KOFEX's requirements of 60 trades per second.
"We look forward to providing our customers with the high level of performance and stability offered by OM's systems", says Mr. Yunhee Cho, Executive Director of KOFEX.
OM has more than 25 international exchange and clearing customers worldwide, of which 13 outsource their mission critical IT operations to OM and are serviced around the clock by OM hubs in Asia Pacific, Europe and North America.
"We are delighted to continue to strengthen our co-operation with KOFEX and we are looking forward to the challenge of hosting KOSPI 200 on our systems solutions," says Roland Tibell, head of Business Area Financial Market Solutions at OM.
The trials were conducted on an off-the-shelf solution from OM using KOFEX's specifications with a HP AlphaServer system running OpenVMS at Hewlett-Packard Company's New Hampshire OpenVMS engineering benchmark center. "We are pleased to have been able to support KOFEX and OM in their efforts to verify the status of their readiness for the launch of the KOSPI200", said Mark Gorham, Vice President HP's OpenVMS Software Group.
KOFEX started its business in 1999 and now has 8 products and is the 19th largest derivatives exchange in the world in terms of trading volume.
OM is a world leading provider of transaction technology to the financial services and energy industries. Developing and marketing IT solutions that boost the efficiency of markets worldwide, OM has over 300 customers in 20 countries. OM also owns and operates exchanges and clearing organizations and has operations in 10 countries. OM is listed on Stockholmsbörsen.
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