OMX consolidates membership for Nordic exchanges
03 January 2006 | 2062 views | 0
OMX promotes its members' trading on OMX's exchanges in Copenhagen, Stockholm and Helsinki.
In the beginning of January, OMX Nordic Exchange Membership will be launched on three exchanges, which makes it possible for a member to operate on the three exchanges with only one membership fee. The change is a part of OMX's aim to create an integrated and efficient Nordic marketplace.
On January 1, 2006, OMX will launch OMX Nordic Exchange Membership, which gives an opportunity to a member operating in one exchange to trade also on the other two exchanges without any additional annual or monthly fixed fees. With one exchange membership, a member will have the possibility to operate more seamlessly across the Nordic borders. The membership does not include the Baltic exchanges and bond trading.
The new membership offers members more competitive fees than before. As of January 1, the monthly minimum fee on OMX's exchanges in Helsinki, Stockholm and Copenhagen will be EUR 900 (SEK 8,333, DKK 6,750), which is payable to one exchange only. The fee gives the right to trade in all three markets and no additional entrance fees or annual fixed fees will be charged.
Only one application and one agreement are needed for the OMX Nordic Exchange Membership. The new membership will replace the existing ones. Legally, each trading member is still a member of the individual exchange.
OMX has altogether 148 members (excluding 94 members that are members of more than one exchange) of which Stockholm Stock Exchange has 83 members, Helsinki Stock Exchange 49 members, Copenhagen Stock Exchange 50 members, Tallinn Stock Exchange 18 members, Riga Stock Exchange 17 members and Vilnius Stock Exchange 25 members.
The reduction in fees is not expected to have any significant impact on OMX's earnings.