NASDAQ OMX Takes 5% Equity Stake in Borsa Istanbul
NASDAQ OMX Group (Nasdaq: NDAQ) and Borsa Istanbul A.S. have today 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.
Key aspects of the agreement include the provision of NASDAQ OMX's most advanced and complete selection of market technology solutions and advisory services, based on the globally market-leading Genium INET suite and all associated platforms and applications, with regional resell rights and also eventual self-sufficiency for Borsa Istanbul. Further, the parties are to work closely together to cement Borsa Istanbul's position and brand as the capital markets hub for the Eurasia region, serving global issuers, investors, and corporations. As part of the agreement, NASDAQ OMX will take a five percent equity stake in Borsa Istanbul, with an option to increase this by an additional two percent; NASDAQ