NASDAQ OMX has announced its partnership with Borsa Istanbul to deliver its most advanced suite of technologies, build world-class capital markets hub for Eurasia region, have regional reselling rights and develop multiple new platforms NASDAQ OMX to take equity stake in Borsa Istanbul.
NASDAQ OMX Group and Borsa Istanbul A.S. have concluded a wide-ranging agreement, which includes the delivery of market-leading technologies and advisory services to Borsa Istanbul, and NASDAQ OMX taking an equity stake in Borsa Istanbul.
As part of the agreement, NASDAQ OMX will take a 5-per cent equity stake in Borsa Istanbul, with an option to increase this by an additional two per cent; NASDAQ OMX will also receive a series of cash payments. The parties' forward cooperation pathway may also include minority participation by Borsa Istanbul in NASDAQ OMX.
Bob Greifeld, CEO, NASDAQ OMX, said, "We are pleased to be working side by side with Borsa Istanbul as they evolve toward becoming an international hub that will attract global investors to the Eurasia region. Building and powering the world's capital markets is at the heart of NASDAQ OMX's Global Technology Solutions business, and we are thrilled to be partnering and investing in the Turkish exchange."
The agreement underscores a long-term commitment that will benefit member firms and customers of both exchanges.
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