Nasdaq OMX, the transatlantic exchange group, has confirmed a move to appoint Fortis to handle clearing for a new European trading system set to launch in September this year, as first reported by Financial News. The development gives the exchange a key step forward in its bid to challenge Europe's dominant stock exchanges.
The exchange, formed at the end of February after the $4.4bn (â¬3bn) acquisition of the Nordic group by the US exchange, has picked European Multilateral Clearing Facility, a subsidiary of Fortis, to support its Pan European Market, as first reported in Financial News two weeks ago.
