OMX will be the system provider for the license, customization, implementation and support of BVC's new trading system, which will be used for derivatives and cash equities.
"It is an honor to be selected as BVC's technology partner as it grows into a world-class exchange and continues to strengthen its position in Latin America," said Markus Gerdien, President Business Area Market Technology OMX. "This appointment is particularly gratifying for OMX, as it is our first in South America and validates our strategic focus on developing long-term customer relationships built on best-in-class solutions, first rate service and strategic advisory services. OMX is now represented on all of the world's major continents."
The Bolsa de Valores de Colombia was formed in 2001 as a national exchange by combining the stock exchanges of Bogota, Medellin and Occidente. The exchange currently operates cash equities and fixed income markets and plans to launch a derivatives market shortly. BVC is the fourth largest fixed income market in the world.
"With this new trading platform, BVC will have a world class, state-of-the-art trading platform which will bring BVC in line with international standards and will contribute to its strategy of attracting international institutional investors to our market," said Juan Pablo Cordoba Garces, President, Bolsa de Valores de Colombia. "We also look forward to benefiting from OMX's extensive knowledge and experience in implementing and operating market technology solutions globally as well as the opportunity to interact more with our exchange colleagues around the world as part of the OMX exchange community."