Micex Group, an integrated exchange which provides services related to electronic trading, clearing, settlements for transactions, depository and information services on the basis of a unified platform, has selected Nasdaq OMX to provide market data audit services.
The market data compliance services will be performed by Nasdaq OMX Global Data Products, a market data operation, through its Global Access program.
Global Access allows companies to utilize Nasdaq OMX’s distribution network, sales, administrative and technical expertise to realize and maximize profits for their market data content.
The Nasdaq OMX Global Data Products compliance team will provide on-site and off-site reviews to ensure customer use of Micex’s data product content is compliant with Micex’s data policies.
Nasdaq OMX claimed that its compliance services help data content owners such as Micex preserve the value of their data offerings while providing consultative recommendations regarding compliance obligations and best practices for their vendors.
Randall Hopkins, SVP of global data products at Nasdaq OMX, said: “Market data is one of an exchange’s most important assets and ensuring compliance maintains the integrity of the data. Given Micex’s large, geographically diverse distribution of data and Russia’s growing importance in the global economy, there are many synergies to this deal that will be quickly recognized through Nasdaq OMX’s global presence and industry relationships.”
Eugeny Ellinskiy, VP of Micex, said: “Information transparency is an important principle of Micex exchange activities. I am sure that the rich experience of Nasdaq OMX will help Micex improve the information services and products market.”