Saxess trading system has been implemented in OMX Exchanges’ marketplaces in Finland, Estonia and Latvia. Following the implementation, the stock exchanges of the Nordic and Baltic countries now represent a single market for securities trading in practical terms. Securities from Sweden, Denmark, Norway, Iceland, Finland, Estonia and Latvia can be bought and sold through this trading system.
NOREX, the stock exchange alliance, is the first stock exchange alliance in the world to implement a common system for share trading and to harmonise the trading and membership rules and regulations for exchanges in different countries.
“We are very pleased to have realised the vision of the NOREX Alliance to create a common marketplace and by so realising significant added value for market players. We will now focus on developing the Nordic and Baltic securities markets and improving their efficiency further. NOREX represents a unified regional securities market to stand alongside the other important markets in the European arena,” says Jukka Ruuska, Chairman of NOREX.
“This is a major new step not only for NOREX but also for Oslo Brs. We have gained a great deal from being part of the NOREX collaboration, and it is very satisfying to see that the Alliance is in good shape for further development,” says Sven Arild Andersen, President and CEO of Oslo Brs.
The shares of 876 companies in total are quoted on the seven NOREX exchanges. The total market capitalisation of all the companies listed on the NOREX exchanges amounted to approximately EUR 561 billion at the close of August 2004.