-Expanding SFTI’s Reach, Enhancing Global Market Access and Offering More Trading Services-
NYSE Technologies and Koscom Announce Memorandum of Understanding
-Enhancing NYSE Technologies’ Capital Markets Community with Connectivity to Korea-
New York, NY -- March 29, 2012 -- NYSE Technologies, the commercial technology division of NYSE Euronext and Koscom Corporation, the technology firm created by the Korean Ministry of Finance and Korea Exchange, today announced the signing of a Memorandum of Understanding (MOU) that formalizes a joint commitment to continued technology cooperation and the creation of new international business opportunities. The agreement also supports NYSE Technologies’ core capital markets community strategy of connecting a diverse range of key global vendors, market participants and trading destinations to the Secure Financial Transaction Infrastructure (SFTI) network.
Among a range of cooperative benefits intended to create customer value and market efficiency, this strategic agreement is also designed to facilitate plans to link NYSE Technologies SFTI network that already connects market participants and exchanges around the world with the Koscom STOCK-NET, an established network with strong connections among market participants and the exchange in Korea. This initiative will further develop, strengthen and promote cross-border trading between Korea and international markets. With a diverse portfolio of financial technology solutions that include front and back office operations, both Koscom and NYSE Technologies provide market participants with a complete menu of trading and data infrastructure options, business applications and consultancy expertise.
“We are pleased to expand our already strong relationship with the Korea Exchange through this strategic agreement with Koscom,” said Stanley Young, CEO, NYSE Technologies. “As we continue our mission of global innovation and the creation of a true capital markets community, it’s essential that we collaborate with other world-class technology teams like Koscom to find greater ways to serve our customers by enhancing the accessibility of global markets and the performance of their participants. We are excited to begin exploring new ways to achieve those goals with the help of our colleagues at Koscom.”
“We are delighted to be partnering with NYSE Technologies. Our strategic relationship with NYSE Technologies will allow us to continue introducing a state of the art technology and reinforce our position as an expert in exchange systems and financial solutions,” Joo Ha Woo, CEO, Koscom stated. “As leading financial solution providers, both Koscom and NYSE Technologies represent a valuable path to establish stronger presences in global market. We believe that this opportunity will maintain a positive bond between Koscom and NYSE Technologies and continue to provide great service to our current and potential customers worldwide.”
Building on the 2004 MOU between the New York Stock Exchange and the Korea Exchange, this new agreement between the commercial technology units of each exchange offers each the opportunity to work more closely to identify new business opportunities, explore co-branded initiatives and transmit market information into and out of Korea faster and with greater efficiency.
In 1977, Koscom was established by the Ministry of Finance and the Korea Exchange to computerize the securities markets and related industries systems. Since its foundations, Koscom, as a professional financial IT solution firm, has led the development of the Korea securities and futures market through providing total financial IT infrastructure. Koscom also provide market information to market participants-providing solutions and real-time market information. To enhance the financial IT, Koscom has managed the public IT infrastructures for securities industries and other related systems. For additional information visit: http://english.koscom.co.kr
About NYSE Technologies
A division of NYSE Euronext (NYX), NYSE Technologies provides broadly accessible, comprehensive connectivity and transaction capabilities, data and infrastructure services, and managed solutions for a range of customers requiring next-generation performance and expertise for mission critical and value-added trading services. NYSE Technologies offers a diverse array of products, services and solutions to: the Buy Side, including order routing, liquidity discovery and access to a community of over 630 Broker-Dealers and execution destinations globally; the Sell Side, including high performance, end-to-end messaging software and innovative market data products delivered on the world’s largest, most reliable financial transaction network; and Market Venues and Exchanges, including multi-asset exchange platform services, managed services and expert consultancy. With offices across the U.S., Europe, and Asia, NYSE Technologies offers advanced integrated solutions for the global capital markets community, earning the ability to power trading operations for many of the world’s best financial institutions and exchanges. For additional information visit: www.nyse.com/technologies.
Disclaimer and Cautionary Note Regarding Forward-Looking Statements
This press release may contain forward-looking statements, including forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements include, but are not limited to, statements concerning NYSE Euronext's plans, objectives, expectations and intentions and other statements that are not historical or current facts. Forward-looking statements are based on NYSE Euronext's current expectations and involve risks and uncertainties that could cause actual results to differ materially from those expressed or implied in such forward-looking statements. Factors that could cause NYSE Euronext's results to differ materially from current expectations include, but are not limited to: NYSE Euronext's ability to implement its strategic initiatives, economic, political and market conditions and fluctuations, government and industry regulation, interest rate risk and U.S. and global competition, and other factors detailed in NYSE Euronext's 2011 Annual Report on Form 10-K and other periodic reports filed with the U.S. Securities and Exchange Commission or the French Autorité des Marchés Financiers. In addition, these statements are based on a number of assumptions that are subject to change. Accordingly, actual results may be materially higher or lower than those projected. The inclusion of such projections herein should not be regarded as a representation by NYSE Euronext that the projections will prove to be correct. This press release speaks only as of this date. NYSE Euronext disclaims any duty to update the information herein.