Danish, Swedish And Finnish Stock Markets Inch Closer To Full Integration On OMX

The OMX Nordic Exchange will from today adopt a "common presentation" of Swedish, Danish and Finnish listed companies. The Nordic exchange group is also introducing Nordic indexes, Nordic information offerings, harmonized listing requirements and even a single Nordic web site.

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The OMX Nordic Exchange will from today adopt a “common presentation” of Swedish, Danish and Finnish listed companies. The Nordic exchange group is also introducing Nordic indexes, Nordic information offerings, harmonized listing requirements and even a single Nordic web site.

“This is an important milestone in the integration of the Nordic financial market,” says Magnus Bocker, the OMX CEO. “Step by step we are realizing the vision of an integrated market to the benefit of listed companies, members, investors and other stakeholders. By joining forces in the region, the OMX Nordic Exchange strengthens its position as a leading European marketplace.”

Jukka Ruuska, President business area Nordic Marketplace at OMX, says the launch of a common presentation for Finnish, Swedish and Danish companies is a visible step in the in the integration of markets. “The joint presentation gives investors more to choose from and by focusing on industry sectors we make it easier to compare companies in the same industry across the region,” he says. “Our aim is to, in close cooperation with our customers and other stakeholders, create an integrated Nordic home market. We are also introducing harmonized Nordic listing requirements to improve market transparency.”

Hans Ole Jochumsen, President business area Information Service & New Markets at OMX, adds that it Nordic Indexes, a Nordic information offering and Nordic communication tools for companies will raise the visibility of Nordic listed companies across the region and internationally. “That is of utmost importance in the highly competitive global financial markets,” he says.

Swedish, Danish and Finnish companies will now be presented in a common way divided into segments; first by market capitalization and then by industry sector, following the international Global Industry Classification Standard (GICS). Large Cap is companies with a market value equivalent to EUR 1 billion or more, Mid Cap is companies between 150 million and 1 billion euro and Small Cap is companies with a market value less than 150 million euro. The ten sectors in the GICS classification are the following: Energy, Materials, Industrials, Consumer Discretionary, Consumer Staples, Health Care, Financials, Information Technology, Telecommunication Services and Utilities.

Along with the common presentation of the companies, OMX is launching a Nordic information offering with extensive market data and distribution to information vendors. The OMX distribution network currently includes 129,000 terminals. OMX also offers a range of Nordic products and services designed to support listed companies in getting more visibility, such as the OMX Company News Services that facilitates disclosure of company information and aims to create a hub for financial information from all listed companies on the OMX Nordic Exchange.

OMX is also launching new Nordic indexes, such as OMX Nordic All Share and OMX Nordic 40. The latter highlights the 40 most traded companies on the Nordic List, and sector indexes make it easier to find and compare companies across the Nordic countries. A common index for OMX’s Nordic alternative market First North in Sweden and Denmark highlights the development of small and mid-sized companies in the Nordic region.

Furthermore, the OMX Nordic Exchange is introducing harmonized Nordic listing requirements. The listing requirements have been developed according to best practice and are in line with existing and coming EU directives. OMX says applying the same listing requirements to the companies contributes to improved quality by increasing market transparency. The main Nordic listing requirements are three-year history, documented earnings-generating capacity or financial resources 12 months ahead, 25% of the share capital held in public hands and requirements regarding the company’s organization, management and Board.

The Nordic list replaces the current A List and O List in Stockholm, the Main List, I List and NM List in Helsinki and the current list in Copenhagen.

“The introduction of a Nordic joint list is an important milestone in the further consolidation of the region,” says a spokesman for SEB. “It further emphasises the importance of full consolidation as it is benefiting listed companies in the three Nordic OMX-owned markets with a hope to include the Baltic markets in a not too distant future.”

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