Oslo Børs Holding ASA recorded post-tax of NOK 68.5 (30.8) million for the second quarter.
Shares and primary capital certificates worth NOK 711 (309) billion changed hands in the second quarter, which is the highest turnover in a quarter ever. Transactions in the equity market totalled 2,536,000 (1,165,000), up more than 100% compared to second quarter 2005.
Revenues totalled NOK 134.4 (86.6) million in the second quarter, an increase of NOK 48 million. Revenue from equity trading was NOK 30 million higher than in the same period last year, and NOK 7 million higher than in the previous quarter. Revenue from sales of market data showed an increase of NOK 13 million from the same period last year and was NOK 7 million higher than the previous quarter. This includes a non-recurring item of NOK 4.7 million caused by revised distributor figures for the number of end-users.
Second quarter operating costs amounted to NOK 48.1 (44.1) million, an increase of NOK 4 million from the second quarter of 2005.
At the end of the second quarter, 800 (845) bond loans and other interest bearing securities were listed on the stock exchange. In addition, 109 (7) loans were listed on the Alternative Bond Market (ABM). This is the highest number of loans listed through Oslo Børs since the legal requirements for all bond loans to be stock exchange listed ended on 31 December 1996.
Trading activity in the derivatives market in the second quarter was higher than ever before. The number of contracts traded was almost three times higher than in the second quarter of 2005 (3,572,000 as compared to 1,309,000). Index products saw an almost five-fold increase in the number of contracts traded, while equity products saw contract numbers double. In April Oslo Børs made some changes to the OBX index. The index was at the same time split 4:1. This means that investors now have to hold four times as many contracts as before to achieve the same exposure. These changes were accompanied by reductions in trading and clearing fees.
The number of end-users with access to market data from Oslo Børs was around 3% higher at the end of the second quarter than at the end of the previous quarter, and around 25% higher than at the same time last year.
Oslo Børs' revenues vary in line with activity levels. Oslo Børs expects that its total operating costs for 2006 will be in the order of NOK 200 million.
Oslo Børs has carried out a comprehensive strategic review process during the course of Spring 2006, and has defined the future strategy for Oslo Børs. The main features are:
- An independent and competitive Oslo Børs
- Collaboration with stretegic partners in selected areas
- Increased focus on product development (derivatives, fixed income products, equity market and market data)
- Develop further the sectors in which Oslo Børs is particularly strong
- Close collaboration in the national securities value chain
- Continuing collaboration with the NOREX alliance