STOCKHOLM, Sweden, June 18, 2002 (PRIMEZONE) -- OM and Nord Pool have signed a new, extended agreement regarding support and operation of OM's trading system PowerCLICK(TM) for trading on Nord Pool, the world's first international commodity exchange for electric power. Nord Pool is a customer to OM since 1995, when PowerCLICK(TM) was originally installed. The new agreement contains support, operation and upgrading of all hardware and further development of operational security. New functionality supporting Internet based trading on Nord Pools financial market is also included. The order value amounts to more than SEK 100 million.
"The PowerCLICK(TM) from OM has proved itself as a userfriendlyand reliable system that Nord Pool will continue to build upon. Furtherdevelopment of our electronic trading system for the financial market isan important prerequisite for the coming expansion of the electricityexchange," said Torger Lien, CEO and President at Nord Pool.
"Ever since the start, Nord Pool has been a successfulelectricity exchange. We are very happy to see Nord Pool's continuedfaith in OM, which also strengthens our position as a global provider oftechnology for energy markets," said Magnus Bocker, COO at OM.
Nord Pool -- The Nordic Power Exchange -- is the world's first international commodity Exchange for electrical power. Nord Pool organize trade in standardised physical and financial contracts including clearing services to Nordic participants, and provides customer-support in Sweden, Finland, Norway, Denmark and other European countries. Being the Nordic Power Exchange, Nord Pool plays a keyrole as part of the infrastructure of the Nordic electricity power market and thereby provide an efficient, publicly known price on electricity, both in the spot and the future/forward market.
OM is a world leading provider of transaction technology to the financial services and energy industries. Developing and marketing IT solutions that boost the efficiency of markets worldwide, OM has over 100 customers in 20 countries. OM also owns and operates exchanges and clearing organizations and has operations in 10 countries. OM is listed on Stockholmsborsen. For more information, please visit www.om.om.
For further information or comments, please contact:
Anna Eriksson, VP Brand & Communications, OM +46 8 405 66 12 Hartvig Munthe-Kaas, SVP Corporate Communications, NordPool +47 957 065 05
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