Borsa Italiana launches a new joint service model with OMX for its derivatives market

OMX, a leading expert in the exchange industry, and Borsa Italiana have today signed a 5-year agreement for the provision of IT operations for Borsa Italiana's derivatives market, IDEM. This agreement is based on a new joint service model between BIt Systems, the Information & Communication Technology company of Borsa Italiana Group, and OMX.

Borsa Italiana has used OMX's trading application since IDEM was launched in 1994. Under the terms of this new agreement, OMX will provide the central systems infrastructure, technical operations, systems surveillance and network services. OMX will work in close partnership with BIt Systems which will be responsible for members connectivity, customer support and application management. “To be chosen to provide IT operations for Borsa Italiana’s derivatives market IDEM is an acknowledgement of our position as an expert in the exchange industry”, said Mr. Magnus Böcker, CEO of OMX. “Including Borsa Italiana’s derivatives market IDEM, OMX is currently operating 16 exchanges, which makes us the leading exchange outsourcing provider.” “In 2006, IDEM is continuing to grow at fast pace trading about 140,000 standard contracts or EUR 5 billion a day, a growth of 34 percent compared to the same period last year. This new joint service model allows Borsa Italiana to support this growth maintaining very high standards of quality and efficiency for its derivatives market”, said Massimo Capuano, President and Chief Executive Officer of Borsa Italiana.