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Nasdaq reorganises market services to boost global competitiveness

Published on Mar 25, 2014 3:15 AM

NEW YORK (REUTERS) - Nasdaq OMX Group said on Monday it is reorganising its market services business to better compete globally in fixed income, currencies, derivatives and other asset classes.

Hans-Ole Jochumsen, the exchange operator's top executive in Europe, will take on an expanded role that includes oversight of transactions, clearing and settlement services for the United States and Europe.

Mr Jochumsen will be at the helm of Nasdaq's new Global Market Services unit, aimed at driving growth across the New York-based company's fixed income, currencies and commodities businesses, as well as equities-based cash and derivatives.

"The focus will be on how we can align our different businesses and make them more global where that makes sense," Mr Jochumsen said in an interview.

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