The chief executive of Nasdaq OMX has outlined plans to move all of the group’s exchanges, including the seven Nordic markets it acquired in February, onto its US trading system as part of its bid to cut costs by $100m (€63.2m) over the next two years.

The plan emerged a week after OMX’s Nordic market, which supports trading of Swedish, Danish, Finnish and Icelandic stocks, suffered its worst technical glitch since 1999, failing to open on two consecutive days.