OMX introduces Genium, new technologies for the transformation of the exchange industry
OMX, the leading expert in the exchange industry, introduces Genium, its new technologies for trading, post trade and information services. Genium will be a driving force in OMX global exchange technology offering and the development of the OMX Nordic Exchange.
Genium brings new dimensions to managing the transformation of the exchange industry. Designed not only to be the world’s fastest trading system, Genium combines innovative functionality, a modular construction and standardized access to enable fast business development.
“The exchange industry is evolving fast. Increased openness, competition, cross border trading and changing trading models puts new demands on speed, availability and agility. Based on OMX experience of operating the Nordic Exchange and powering more than 60 exchanges around the world, Genium has been designed to empower exchanges in the race for high capacity, low latency and scalability”, says Magnus Böcker CEO of OMX.
The Genium roadmap is developed to provide both existing and new customers with competitive advantage. Deliveries start with standardized access solutions for trading and market data based on the FIX (Financial Information eXchange) and FAST (FIX Adapted for Streaming) protocols. Using FAST helps reduce latency and improves conditions for the rapidly growing algorithmic trading sector.
The Nordic Exchange will be first to implement Genium, starting this year with providing FIX access to equity market data followed next year by FIX access to equity and derivatives trading. Thereafter the Nordic Exchange plans to move cash and derivatives trading to a Genium based solution. The time plan and implementation for this will be decided following member consultations.
“The Nordic Exchange is an integral part of the development of Genium and our customers will be the first to take advantage of its new capabilities, including improved speed and trading efficiency. Genium will also bring new services to reinforce OMX Nordic Exchange’s position as a driver in exchange innovation”, says Jukka Ruuska, President OMX Nordic Exchange.