STOCKHOLM, Sweden, Jan. 21, 2004 (PRIMEZONE) -- At Stockholmsborsen's Exchange Seminar 2004, which was held today, Kerstin Hessius presented the results of an external survey that showed that public confidence in Stockholmsborsen had increased since 2002. Confidence in Stockholmsborsen has increased among all of the categories covered by the survey, namely Exchange members, listed companies, institutional investors, private investors, the mass media, and various interest groups.
The annual survey of confidence in Stockholmsborsen showed that confidence in the Exchange had increased from a rating of 3.7 in 2002 to 3.9 in 2003 (on a five-point scale). All of the categories covered by the survey showed increased confidence in Stockholmsborsen, with the greatest increase noted among institutional investors, the category that had been most critical in the preceding year.
Stockholmsborsen received a rating of 4.2 for its trading system which, according to the survey, is the principal factor determining confidence in the Exchange. Compared with 2002, Stockholmsborsen achieved higher ratings for all of the surveyed factors. The greatest increase in confidence was noted for the actions taken by Stockholmsborsen when its rules are broken or with respect to its strategic development. The rating for actions taken when rules are broken rose from a low level in the 2002 survey, when it was the only factor for which the Exchange did not receive a Pass rating. The significant increase noted in confidence in the Exchange is attributable to the merger with HEX, which approximately 80 percent of the respondents considered positive or very positive.
"It is extremely gratifying to note that confidence in Stockholmsborsen has increased. During 2003, we focused continuously on confidence-building efforts, particularly on the factors in the preceding year's rating that we were not satisfied with. In the 2002 survey, we received an unsatisfactory rating for the actions we took when our rules were broken, and institutional investors were the most dissatisfied respondents. Following the implementation of a number of key measures in 2003, confidence in the actions taken when rules are broken was the area in which the greatest improvement was noted, with institutional investors showing the greatest increase in confidence. This proves that constructive confidence-building efforts can generate favorable results. Stockholmsborsen will continue to take actions designed to further increase confidence in the Exchange," says Kerstin Hessius, President of Stockholmsborsen.
A comparison with other Nordic exchanges and with the New York Stock Exchange, Nasdaq, the London Stock Exchange and Euronext shows that Stockholmsborsen is competitive in terms of confidence factors. Stockholmsborsen is the exchange that received the highest confidence rating for its trading systems.
"Confidence in Stockholmsborsen improved between 2002 and 2003 despite the fact that the confidence requirements were more stringent. Naturally, external factors also affect our operations. The fact that Stockholmsborsen's general index rose by nearly 30% almost certainly contributed to the positive effect, but at the same time scandals occurred just as frequently as in 2002, both inside and outside Sweden," Kerstin Hessius continues.
In 2002, Stockholmsborsen started to arrange a confidence survey that will be conducted on an annual basis and be public. A total of 250 respondents, among Exchange members, listed companies, institutional investors, private investors, the mass media and various interest organizations, were interviewed by market research company Prospera. The survey was conducted in November and December 2003 and the response rate was 91 percent. The respondents assessed a number of factors in terms of their importance regarding confidence in the Exchange and they were asked to rate Stockholmsborsen with respect to these factors. The ratings were assigned on a five-point scale. This is also the first year that a survey is being conducted for HEX Helsinki. International members and institutional investors have also been asked to provide confidence ratings for HEX Helsinki and Stockholmsborsen. The results of these surveys are expected to be ready by the beginning of March.
Stockholmsborsen works continuously to uphold public confidence in the stock market. Arranging annual Exchange seminars is one feature of such efforts. At today's Exchange Seminar, various participants in the Swedish stock market provided their views on many of the questions arising from the currently intense public debate concerning confidence in the stock market and in the business community in general. The Seminar panel consisted of Tomas Billing, President and CEO, Nordstjernan, Urban Backstrom, President and CEO, Skandia Liv, Bengt Carlsson, Stock Market Columnist, Dagens Nyheter, Gustaf Douglas, Chairman of the Board, Latour, Anders Ek, President and CEO, Robur, Goran Espelund, President and CEO, Lannebo Funds, Kjell-Olof Feldt, former Swedish Finance Minister, Eva Halvarsson, Assistant Undersecretary, Department of Industry and Commerce, Kerstin Hessius, President, Stockholmsborsen, Birgitta Johansson-Hedberg, President and CEO, ForeningsSparbanken, Arne Karlsson, President and CEO, Ratos, Bengt Stillstrom, Chairman of the Board, Traction, Michael Treschow, Chairman of the Board, Ericsson, Bjorn Wahlroos, Chief Executive Officer, Sampo and Bjorn Wilke, Stock Market Reporter, Dagens Industri.
For further information:
Maria Andark, Vice President Corporate Communications, Stockholmsborsen Tel: +46-70-597 52 76
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