STOCKHOLM, Sweden - OMX, a leading expert in the exchange industry, has signed a seven-year agreement to outsource its global customer network operations and data center management to Verizon Business.
OMX owns and operates the Nordic Exchange and supplies exchange technologies to more than 60 exchanges, clearing organizations and central securities depositories in 50 countries worldwide. The company employs more than 1,500 people within its operations in Australia, Canada, China, Denmark, Estonia, Finland, Hong Kong, Iceland, Italy, Latvia, Lithuania, Norway, Singapore, Sweden, United Arab Emirates, the United Kingdom and the United States.
OMX's decision to outsource its network and data center operations will enable the company to focus on its core competencies by working with a single global provider. The company's communications network and data center facilities serve both OMX's own operations and those of its global customers.
Under the agreement, Verizon Business will take responsibility for aspects of external networks and data centers. OMX will continue to be the prime contractor and offer a wide range of IT services to exchanges, clearing organizations and central securities depositories worldwide. The overriding goal of the agreement is to further enhance OMX's global customer service delivery and support future growth.
"Finding a dedicated outsourcing supplier for external network operations is an important element in our global growth plans," said Markus Gerdien, president, market technology for OMX. "Our external network operations are crucial to our business, and we needed to ensure we developed a relationship with a supplier truly able to support our global needs today and in the future.
"We chose to work with Verizon Business thanks to the company's excellent track record in managed services, acknowledged experience of the financial services sector, solutions expertise, and a global network reach. This partnership is ultimately designed to benefit our customers. We look forward to realizing the benefits of Verizon Business' support as we continue to expand the reach of our IT services worldwide," Gerdien said.
John Killian, president, Verizon Business, said: "The decision to adopt a managed services approach is increasingly seen as a strategic factor for business success. OMX is a truly global organization working, and also servicing customers, in one of the most demanding communications environments - the financial markets. OMX's business relies on fast, secure and reliable networks, and we are delighted that it has chosen to entrust the operation and management of this critical business asset to Verizon Business."
OMX is a leading expert in the exchange industry. The common offering from OMX Nordic Exchange in Helsinki, Copenhagen, Stockholm, Iceland, Tallinn, Riga and Vilnius, comprises over 800 companies including its alternative market First North. OMX provides technology to over 60 exchanges, clearing organizations and central securities depositories in over 50 countries. OMX is a Nordic Large Cap company in the Financials sector on the OMX Nordic Exchange. For more information, please visit www.omxgroup.com.
About Verizon Business
Verizon Business, a unit of Verizon Communications (NYSE: VZ), is a leading provider of advanced communications and information technology (IT) solutions to large business and government customers worldwide. Combining unsurpassed global network reach with advanced communications, security and other professional service capabilities, Verizon Business delivers innovative and seamless business solutions to customers around the world. For more information, visit www.verizonbusiness.com.