HCL Technologies - OMX Extends Collaboration With The Company

HCL Technologies Ltd has informed that the Company has signed an agreement with OMX, the leading expert in the exchange industry, to extend its existing collaboration. The Company will take on the responsibility for the development, maintenance and support of securities management systems used by banks and brokers.In August 2005, OMX announced the focusing of its technology business through the divestment of operations targeting banks and brokerages within the Banks & Brokers business area. Following the agreement with the Company, a smaller part of the former Banks & Brokers business area remains, consisting of the UK operations in securities administration services.Rajeev Sawhney, corporate vice president, of the Company, comments: Were delighted to be extending our working relationship with OMX further still. Our specialist still set and sector experience make us an ideal partner and well be helping OMX to drive through benefits such as a more efficient and secure service. The agreement highlights HCLs expertise in the financial services sector and our continued commitment to developing value-add technology solutions to meet the specific needs of our customers.