OMX signs agreement with GFG to launch the world’s first recognized marketplace for real estate securities
OMX, the leading expert in the exchange industry, announced today that it has entered into a multi-year agreement with Global Financial Group (GFG) for the implementation and facilities management of its fully automated electronic trading system for egX, the world’s first recognized marketplace for real estate securities.
Under the terms of the agreement, OMX will provide egX Markets with a flexible, high performance and scalable trading solution based on proven trading technology from OMX. As part of the collaboration, OMX will also provide a managed services solution for the deployment and operation of egX’s global trading system. egX Markets is a wholly owned subsidiary of GFG.
“Expertise is about mastering change. The business environment is becoming increasingly complex, and competitive positions shift among market players while the pace of change continues to accelerate,” commented Leo Chamberland, President and CEO of GFG. “The international penetration achieved by OMX and the global operational experience OMX brings to the table will be instrumental in the realization of our principal objective to establish egX as a global marketplace.”
“OMX looks forward to partnering with egX to launch this innovative new market for the trading of real estate securities,” said Markus Gerdien, President Business Area Market Technology, OMX. “As a technology provider to over 60 exchanges in more than 50 countries, we understand the unique requirements of egX, and the combination of our securities industry expertise and technology resources will provide egX with a firm footing to establish and grow this exciting new marketplace.”