OP will cut its online equity trading prices as of 1 April 2016. OP will also begin to offer Finland's most extensive equity research services to all of its equity investment customers. The prices of additional services, such as real-time equity prices and news, will also be reduced.
As a result of this change, OP will reduce its prices for online equity trading (via OP eServices, OP-mobile and OP-eTrader) for all customers. Meanwhile, the prices for equity trading performed in OP branch offices will remain unchanged.
In December, OP published its Invest in Finland initiative to make investing more attractive to Finns. During this initiative, Finland's most extensive equity research information has been freely available to all. The objective of this was to encourage Finns to invest in equities.
"We have been revising our trading services price list for a while. Our Invest in Finland initiative and the opening of our equity research information to all has brought us a significant number of new users. This also supports our view that a large number of small investors are interested in analyses drawn up by our specialists. Therefore, we want to make our analyses automatically available to all of our equity investor customers," says Ari Kiuru, Head of Equities, OP Financial Group.
In April, customers' equity trading fees will be reduced in many ways. Service charges previously included in trading fees will be abolished. In the future, the trading fee paid by the customer will only consist of a percentage fee which may be as low as 3 euros. The more a customer trades, the lower the percentage fee: the lowest fee is only 0.05 per cent.
As a financial group owned by its customers, OP also wants to reward its owner-customers with lower trading fees, regardless of their trading activity.
As part of the price reform, OP will also reduce the prices of additional services, such as real-time equity prices and news, by 14-80 per cent, depending on the service. As usual, OP bonuses earned by customers will be automatically used as payment for the additional services.
All changes in pricing will automatically apply to OP's existing customers, and no action is required on their part.
For more information, please contact:
Read more about OP's new equity trading prices at OP.fi
Interview requests: OP Corporate Communications, tel. +358 (0)50 523 9904 (viestinta@op.fi)
OP Financial Group is Finland's leading financial services group providing a unique range of banking, wealth management and insurance services. OP's mission is to promote the prosperity, well-being and security of its owner-members, customers and operating regions through its local presence. Its objective is to offer the best and most versatile package of loyal customer benefits on the market. OP Financial Group is made up of some 180 member cooperative banks and OP Cooperative, the Group's central institution, including its subsidiaries and closely related companies. The Group has a staff of 12,000, and has 4.3 million customers.
As laid down in the applicable law, the member credit institutions and OP Cooperative are ultimately jointly and severally liable for each other's debts and commitments. Joint and several liability within OP Financial Group is based on the Laki talletuspankkien yhteenliittymästä Act (Act on the amalgamation of deposit banks). Pohjola Bank plc and OP Mortgage Bank are responsible for OP's funding on money and capital markets