STOCKHOLM, December 8, 2010 /PRNewswire-FirstCall/ -- NASDAQ OMX (NASDAQ: NDAQ) announced today that it will expand the real time latency measurement service provided by Correlix Inc. to its Nordic marketplaces. The service will allow NASDAQ OMX Nordic exchanges' members access to independent real-time latency measurement information for intraday and post-day analytics.
The Correlix RaceTeam latency monitoring service will provide NASDAQ OMX Nordic members with full latency transparency of order execution and market data flow in real-time. The independent latency measurement information provided by the service will enable members to better leverage latency information for optimized trading strategies.
Hans-Ole Jochumsen, President NASDAQ OMX Nordic said, "This new service addresses an important customer need, as latency has become a critical means to compete and craft trading strategies. Through expanding the RaceTeam service, we now offer also to our Nordic members objective latency benchmarking that can help them improve trade execution."
"We are very excited to welcome NASDAQ OMX Nordic to the RaceTeam service as the first exchange to offer real-time latency transparency in Europe," commented Shawn Melamed, Founder, President and CTO at Correlix. "As more market exchanges as well as capital market firms understand the importance of monitoring and measuring latency information in real-time, our RaceTeam service continues expanding into new markets."
NASDAQ OMX initially launched RaceTeam latency measurements for the NASDAQ Stock Market earlier this year, and they will be available for NASDAQ OMX Nordic members.
About Correlix RaceTeam(TM)
RaceTeam is an objective latency measurement service that enables trading firms to manage and share real-time Latency Intelligence with their customers as well as receive objective real-time latency data from liquidity venues. The RaceTeam service facilitates greater trading latency insight into each transaction and leads to optimized trading strategies, improved customer service and streamlined operations.
Correlix Inc., a leader in latency intelligence solutions, offers RaceTeam(TM), the leading latency management service providing real-time latency visibility for buy-side, sell-side and liquidity venues. Customers rely on Correlix to monitor measure and minimize latency in trade execution and market data flow in real-time. This empowers users to execute a trade or deliver and act on market data in fewer microseconds. The company's global client base encompasses the world's largest high frequency trading sell-side, buy-side and market centers as well as low-latency service providers.
Correlix is headquartered in New York with offices in London and Israel. Correlix is backed by prominent venture capital groups Sequoia Capital, Genesis Partners, Blumberg Capital, Vernon & Park Capital, L.P. and Xenia Ventures.
For more information, please visit http://www.correlix.com.
About NASDAQ OMX
The NASDAQ OMX Group, Inc. is the world's largest exchange company. It delivers trading, exchange technology and public company services across six continents, with approximately 3,600 listed companies. NASDAQ OMX offers multiple capital raising solutions to companies around the globe, including its U.S. listings market, NASDAQ OMX Nordic, NASDAQ OMX Baltic, NASDAQ OMX First North, and the U.S. 144A sector. The company offers trading across multiple asset classes including equities, derivatives, debt, commodities, structured products and exchange-traded funds. NASDAQ OMX technology supports the operations of over 70 exchanges, clearing organizations and central securities depositories in more than 50 countries. NASDAQ OMX Nordic and NASDAQ OMX Baltic are not legal entities but describe the common offering from NASDAQ OMX exchanges in Helsinki, Copenhagen, Stockholm, Iceland, Tallinn, Riga, and Vilnius. For more information about NASDAQ OMX, visit http://www.nasdaqomx.com.
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 no 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. There can be no assurance that the FSA will give the NASDAQ OMX applicant the authorization and permissions which it seeks.
Media Contacts: NASDAQ OMX Anna Rasin +46-8-405-6612 Anna.email@example.com Correlix Tony Miller +1-617-418-3024 firstname.lastname@example.org
SOURCE Correlix Inc and NASDAQ OMX