STOCKHOLM, Sweden, April 7, 2004 (PRIMEZONE) -- HEX Integrated Markets, Copenhagen Stock Exchange, Oslo Boers and Iceland Stock Exchange have agreed on a new NOREX Co-operation agreement. According to the agreement, HEX Integrated Markets Ltd, representing Stockholmsborsen, who is already a member of NOREX, Helsinki Exchanges, Tallinn Stock Exchange and Riga Stock Exchange, enters into the existing NOREX co-operation.
Including HEX Integrated Markets, the NOREX alliance now covers the whole Nordic region and two thirds of the Baltic area, comprising seven exchanges and four clearinghouses.
The NOREX objective is to create a joint, fully integrated market place for financial instruments, generating benefits for customers, including increased liquidity, more efficient member access, broader service range and lower costs when connecting to Nordic markets.
The NOREX alliance is based on co-operation between independent parties and builds on the principles of a common trading system and common regulatory framework. The implementation of the common SAXESS trading platform at the Helsinki, Tallinn and Riga exchanges is estimated to take place by the end of September, after which easy access to securities from seven markets will be available through one trading system. In conjunction with the implementation of the trading system, the common NOREX Member Rules will be implemented at Helsinki Exchanges and introduced as amendments to the rulebooks of Tallinn Stock Exchange and Riga Stock Exchange, respectively.
For more information or comments, please contact:
Jukka Ruuska, President of HEX Integrated Markets, tel. +358 9 6166 7200 Hans Ole Jochumsen, President and CEO of Copenhagen Stock Exchange, tel. + 45 33 93 33 66 Tor Arne Olsen, Press Spokesman of Oslo Boers, tel. + 47 22 34 17 46 Thordur Fridjonsson, President and CEO of Iceland Stock Exchange, tel. +354 5252800
About HEX Integrated Markets
HEX Integrated Markets, division of OMHEX, is northern Europe's largest securities market. Through its exchange operations within Stockholmsborsen, Helsinki Exchanges, Tallinn Stock Exchange and Riga Stock Exchange it offers investors access to 80 percent of the Nordic and Baltic equity market. HEX Integrated Markets also operates the central securities depositories (CSDs) in Finland, Estonia and Latvia. In March 2004, OMHEX was chosen as the strategic partner in the privatisation of the National Stock Exchange and Central Securities Depository of Lithuania.
About NOREX
NOREX is the strategic alliance between the Nordic stock exchanges. The NOREX Alliance is unique by being the first stock exchange alliance to implement a joint system for equity trading and harmonise rules and requirements between the exchanges with respect to trading and membership. The Alliance consists of the Copenhagen Stock Exchange, Iceland Stock Exchange, Oslo Boers, and the HEX Integrated Markets marketplaces Stockholmsborsen, Helsinki Exchanges, Tallinn Stock Exchange and Riga Stock Exchange
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