Trading Symbol: GFG - TSX Venture
VANCOUVER, March 20 /CNW/ - Global Financial Group Inc. (GFG) announced
today that it has entered into a multi-year agreement with OMX for the
implementation and facilities management of its fully automated electronic
trading system for egX, the world's first recognized marketplace for real
Under the terms of the agreement, OMX will provide egX Markets with a
flexible, high performance and scalable trading solution based on proven
trading technology from OMX. As part of the collaboration, OMX will also
provide a managed services solution for the deployment and operation of egX's
global trading system. egX Markets is a wholly owned subsidiary of GFG.
"Expertise is about mastering change. The business environment is
becoming increasingly complex and competitive positions shift among market
players while the pace of change continues to accelerate," commented Leo
Chamberland, President and CEO of GFG. "The international penetration achieved
by OMX and the global operational experience OMX brings to the table will be
instrumental in the realization of our principal objective to establish egX as
a global marketplace."
"OMX looks forward to partnering with egX to launch this innovative new
market for the trading of real estate securities," said Markus Gerdien,
President Business Area Market Technology, OMX. "As a technology provider to
over 60 exchanges in more than 50 countries, we understand the unique
requirements of egX and the combination of our securities industry expertise
and technology resources will provide egX with a firm footing to establish and
grow this exciting new marketplace."
OMX is a leading expert in the exchange industry. Through the Nordic
Exchange, OMX offers access to approximately 80 percent of the Nordic and
Baltic securities market. The Nordic Exchange is a term used for marketing
purposes and is not a legal entity. It describes the common offering from the
Helsinki Stock Exchange, Copenhagen Stock Exchange, Stockholm Stock Exchange,
Iceland Stock Exchange, Tallinn Stock Exchange, Riga Stock Exchange and
Vilnius Stock Exchange. OMX integrated technology solutions cross the
transaction chain enabling efficient securities transactions for over 60
exchange organizations in more than 50 countries. OMX is a Nordic Large Cap
company in the Financials sector on the OMX Nordic Exchange. For more
information, please visit www.omxgroup.com.
About Global Financial Group
GFG, through its wholly owned subsidiary egX Markets, is developing the
egX, a global securities exchange system designed for the listing and trading
of real estate securities. The Company will launch its first marketplace in
Canada under egX Canada, a wholly owned subsidiary of GFG. Following the
launch of egX in Canada, GFG intends to develop its model internationally,
creating a global market for real estate securities.
On behalf of the Board of Directors
Leo Chamberland, Director
The TSX Venture Exchange has neither approved nor disapproved the
information contained herein.
For further information:
For further information: visit us at www.investment.com, contact the
Company at (604) 681-7210, or review the most recent Annual Information Form
filed on SEDAR (www.sedar.com). We also invite you to read the Company's
business plan made available on the front page of our website.