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OMX cuts jobs in Finland

06 October 2004  |  2710 views  |  0 OMX

Nordic stock exchange operator OMX is streamlining its derivatives trading and global services operations in Finland leading to the loss of 18 jobs.

OMX says the launch of a common equity and derivatives trading platform for the Swedish and Finnish markets in June this year means it is able to discontinue maintenance and development of local trading operations in Finland.

The reorganization of its derivatives markets division in Finland will result in the loss of 10 jobs, although affected staff will be offered positions at the firm's Stockholm operations.

Combined with the phase out of local support systems, the measures are expected to lead to the loss of an additional eight positions within the global services division in Finland.

The job cuts are part of a restructuring programme launched following the merger between Stockholmsbörsen operator OM and Finnish exchange HEX last year.

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