OMX launches Nordic news service
14 June 2006 | 1309 views | 0
OMX launches OMX Disclosure & News Service, a Nordic Baltic information distribution service. The new service is tailor-made for the companies on OMX’s Nordic Exchange and will improve their ability to communicate globally with investors and the media. The service will become a portal for information about companies on the Nordic Exchange. The media, investors and corporate companies will benefit from the new service, which will be introduced in the forth quarter of 2006.
The OMX Disclosure & News Service is built on OMX’s extensive expertise in handling information and distributing it to the financial market on behalf of listed companies. The distribution will include more than 60,000 professional investor terminals and almost 3,000 traders globally, as well as a high proportion of private investors and the key global and local media. All companies, regardless of size, disclosure needs, and communication strategy will be able to use the new system to reach target groups locally as well as internationally.
"The OMX Disclosure & News Service is yet another step to improve the services on the Nordic Exchange. We are creating a hub of information which will increase the visibility for Nordic companies and improve the transparency for private and professional investors on the Nordic Exchange," says Hans-Ole Jochumsen, President of business area Information Services & New Markets.
President of business area Nordic Marketplaces Jukka Ruuska says: "Our customers will experience a user friendly service of high quality. Customers can be confident that the service fulfils the regulatory disclosure obligations coming from the European Union’s Transparency Directive valid as of January 2007."
OMX has signed a letter of intent to partner with PR Newswire, the world’s most experienced and well respected regulatory and media distribution company. The aim of this partnership is to enable OMX customers to reach targeted media and investors on a global scale.
Lisa Ashworth, Managing Director of PR Newswire Europe is delighted about the customer opportunity this partnership will bring: "PR Newswire’s core competencies are global disclosure and media distribution. We look forward to supporting OMX in offering their customers the most comprehensive distribution network available to the Nordic and Baltic companies."
OMX will also be able to service the OMX-listed companies that have a secondary listing in the U.S, U.K or other markets with specific distribution obligations, as well as being able to service their wider global investor and media communications.
The new product structure is not expected to have a significant impact on short term earnings and financial results in OMX.