OMX cuts equity trading fees

Source: OMX

OMX will strengthen the competitiveness of the Nordic capital market and the Nordic Exchange by reducing its cash equity trading fees.

As of January 1, 2008, the fees for cash equity trading will be reduced by 20 percent on average in Stockholm, Copenhagen and Helsinki. The changes in the fee structure are introduced in order to further increase liquidity and boost trading on the Nordic Exchange.

OMX has created the Nordic Exchange - one of the most efficient exchanges in the world. As a result of this, OMX will now lower the cash equity trading fees on the Nordic Exchange to make the Nordic capital market even more appealing for investors from all over the world. Comparisons show that the equity trading fee will be very competitive in a European perspective. The fee reduction is furthermore a step in the harmonization of the Nordic Exchange's offering. In order to stimulate new trading behavior, i.e. algorithmic or programmed trading OMX will also do structural changes in the price list. Moreover, the trading fees for some of the Nordic Exchange's most attractive and traded shares will be reduced.

"OMX Nordic Exchange will strengthen the Nordic capital market and harmonize the exchange's offer to customers further, by reducing the fees of cash equity trading by 20 percent on average. We will also make the exchange even more competitive through an attractive tender to encourage the new trading behavior, such as algorithmic trading. The changes in the price list are expected to increase trading on the Nordic Exchange," says Jukka Ruuska, President Nordic Marketplaces.

The Nordic Exchange has already reduced the fees of trade reporting for off-exchange trading with 75 percent and will now also reduce the on-exchange trading fees. An average equity trade at the Nordic Exchange is SEK 213,000 and the averaged cost of that trade will change from SEK 9.8 to 7.8, after the fee-change. The fee list will be open and transparent to all customers, without exceptions.

The OMX Nordic Exchange will reduce its equity trading fees as of January 1, 2008. Without conss as of January 1,as of Jaas of January 1, 2008. Without considering any dynamic effects due to increased trading, the fee reduction would have had a negative effect on OMX revenues with approximately SEK 200 million on a yearly basis, based on the estimated cash equity trading activity during 2007.

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