OMX Group says it has signed a contract to deliver and support a new trading system for DEX, the planned new Canadian derivatives market.

DEX, which is jointly owned by TSX Group Inc. and International Securities Exchange, is scheduled to launch in March 2009. It will list and trade options, futures and options on futures on a wide variety of Canadian securities. The OMX will be the system provider for the license, customization, implementation and support of DEX’s new derivatives trading system.

“We are thrilled to be working hand-in-hand with one of our key clients, ISE, to bring a proven technology solution to a new market,” said Markus Gerdien, president, market technology, OMX, in a news release. “This venture brings our relationship with ISE to a new level as we leverage our combined expertise to deliver and maintain the DEX platform and further strengthen our position in North America.”

“Building a stable and high-performance technology infrastructure is clearly a critical element that will enable the success of our venture with TSX, and we are confident that we will be able to achieve those objectives with the OMX solution,” said Thomas Ascher, ISE’s chief strategy officer and a director of DEX.

“The growth potential for derivatives in Canada is enormous,” said Rik Parkhill, president TSX Markets and a director of DEX. “The agreement with ISE and OMX gives DEX a solid foundation from which to build its Canadian derivatives business and to offer our customers maximum flexibility and choice.”