"Rapid Ratings’ tools provide us with unique insight into counterparties’ financial health risks” said Steve Sladoje, Senior Managing Director of NASDAQ OMX Commodities Clearing Company.
New York (PRWEB) November 16, 2010
Rapid Ratings™ International Inc. announced today that NASDAQ OMX Commodities Clearing Company, a Chicago-based, wholly owned subsidiary of The NASDAQ OMX Group, Inc. (NASDAQ: NDAQ) and part of the NASDAQ OMX Commodities offering, has subscribed to Rapid Ratings’ suite of products for measuring counterparty risk exposures.
NASDAQ OMX Commodities Clearing Company will use Rapid Ratings’ Financial Health Ratings (FHRs™) to evaluate and manage the risks associated with both public and private company counterparties. The NASDAQ OMX Commodities Clearing Company’s offering is designed for banks, brokers, hedge funds and other financial institutions, as well as utilities, power and natural gas suppliers, and marketers.
“Rapid Ratings is extremely pleased to be working with NASDAQ OMX Commodities Clearing Company,” said James H. Gellert, Chairman and CEO of Rapid Ratings. “Having the integration of our unique and value added FHRs validated by a team as highly regarded as NASDAQ OMX Commodities Clearing Company further enhances our growing reputation as the best alternative to existing rating agencies and credit scoring tools.”
"Rapid Ratings’ tools provide us with unique insight into counterparties’ financial health risks” said Steve Sladoje, Senior Managing Director of NASDAQ OMX Commodities Clearing Company. "We believe the FHR is a powerful tool and is broadly applicable to entities across multiple industries and geographies; it suits our business well.”
About Rapid Ratings International
Rapid Ratings International, based in New York City, is an independent rating and analytics firm that provides ratings of thousands of companies’ financial health for investment and risk management professionals, using a unique, proprietary quantitative ratings system. Rapid Ratings’ Financial Health Ratings™ (FHRs™) measure a company’s overall ability to remain competitive into the future and provide early, actionable information so that users can evaluate credit risk more accurately, as well as make more well-informed investment and trading decisions. Rapid Ratings’ customers include corporations, as well as sell-side and buy-side financial institutions. More information on Rapid Ratings can be found at http://www.rapidratings.com.
Rapid Ratings International
86 Chambers Street, Suite 701
New York, NY 10007
About NASDAQ OMX Commodities
NASDAQ OMX Commodities is the brand name for the NASDAQ OMX Group’s worldwide suite of commodity related products and services. The NASDAQ OMX Commodities offerings include power, natural gas and carbon emission markets and clearing services. NASDAQ OMX Commodities is a trademark of the NASDAQ OMX Group, Inc.
NASDAQ OMX Commodities Europe is a secondary name of NASDAQ OMX Oslo ASA, and is authorized as a commodity derivatives exchange by the Norwegian Ministry of Finance and supervised by the Norwegian Financial Supervisory Authority.
The clearing house, NASDAQ OMX Stockholm AB, is authorized and supervised as a multi-asset clearinghouse by the Swedish Financial Supervisory Authority in Sweden as well as authorized to conduct clearing operation in Norway by the Norwegian Ministry of Finance.
NASDAQ OMX Commodities Clearing Company is the US clearing entity. For more information about NASDAQ OMX Commodities Clearing Company visit http://www.nasdaqomxclear.com
For more information visit http://www.nasdaqomx.com/commodities
About NASDAQ OMX
The NASDAQ OMX Group, Inc. is the world's largest exchange company. It delivers trading, exchange technology and public company services across six continents, with approximately 3,600 listed companies. NASDAQ OMX offers multiple capital raising solutions to companies around the globe, including its U.S. listings market, NASDAQ OMX Nordic, NASDAQ OMX Baltic, NASDAQ OMX First North, and the U.S. 144A sector. The company offers trading across multiple asset classes including equities, derivatives, debt, commodities, structured products and exchange-traded funds. NASDAQ OMX technology supports the operations of over 70 exchanges, clearing organizations and central securities depositories in more than 50 countries. NASDAQ OMX Nordic and NASDAQ OMX Baltic are not legal entities but describe the common offering from NASDAQ OMX exchanges in Helsinki, Copenhagen, Stockholm, Iceland, Tallinn, Riga, and Vilnius. For more information about NASDAQ OMX, visit http://www.nasdaqomx.com.