Borsa Italiana has signed a five year agreement with Swedish trading technology vendor OMX for the provision of IT infrastructure services to support its derivatives market, IDEM.
The agreement is based on a new joint service model between BIt Systems - the ICT arm of Borsa Italiana Group - and OMX.
Under the terms of the deal, OMX will provide the central systems infrastructure, technical operations, systems surveillance and network services to Borsa Italiana.
OMX says it also will work in close partnership with BIt Systems, which will be responsible for members connectivity, customer support and application management.
Massimo Capuano, president and CEO of Borsa Italiana, says the IDEM market is growing at fast pace and trading about 140,000 standard contracts or EUR5 billion a day, a growth of 34% compared to the same period last year.
"This new joint service model allows Borsa Italiana to support this growth maintaining very high standards of quality and efficiency for its derivatives market," says Capuano.
Magnus Bocker, CEO of OMX, comments: "Including Borsa Italiana's derivatives market IDEM, OMX is currently operating 16 exchanges, which makes us the leading exchange outsourcing provider."