OMX Technology, a subsidiary of Nordic stock exchange operator OMX, has signed a five year outsourcing agreement with India's HCL Technologies for systems development and maintenance services.
The particular systems and services, or the number of jobs to be outsourced to India were not disclosed.
OMX says the agreement will enable it to focus more resources on development of new technology and maximize efficiencies across the organization.
Klas Ståhl, President of OMX Technology, says: "We also believe that it will position us better for cost-efficient growth, speed up time to market and open a channel to the growing securities markets in India."