Following the merger of OMX and HEX, and the movement of the Swedish and Finnish derivatives and equity exchanges on to a single platform, OMX has begun to rationalise its operations in Helsinki. OMX launched an integrated Finnish Swedish derivatives exchange and clearinghouse in June, with all derivatives trading to be conducted at the integrated derivates exchange by the end of 2004. Around ten people in Finland will lose their jobs, but all are being offered alternatives in Stockholm. Likewise, the implementation of a common equity and derivatives trading platform will enable OMX to discontinue maintenance and development of local trading in Finland. Combined with the phasing out of local support systems, the planned measures are expected to lead to the loss of approximately another 8 positions within Global Services in Finland. The planned rationalization measures are a part of the synergies announced in connection with the merger between OM and HEX in May 2003.
OMX Makes Post-Merger Economies In Finland
Following the merger of OMX and HEX, and the movement of the Swedish and Finnish derivatives and equity exchanges on to a single platform, OMX has begun to rationalise its operations in Helsinki. OMX launched an integrated Finnish Swedish derivatives
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