OMX

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OMX AB
Type Public (OMX: OMX )
Founded 2003
Headquarters Stockholm, Sweden
Key people Magnus Böcker, CEO
Industry Financial services
Products Stock exchange
Revenue SEK 3,115 m (EUR 341 m)
Employees 1,371
Slogan Efficient Securities Transactions
Website www.omxgroup.com

OMX AB (Aktiebolaget Optionsmäklarna/Helsinki Stock Exchange) is a Swedish-Finnish financial services company, formed in 2003 through a merger between OM AB and HEX plc. It has two divisions, OMX Exchanges, which operates seven stock exchanges in the Nordic and Baltic countries, and OMX Technology, which develops and markets systems for financial transactions used by OMX Exchanges, as well as by other stock exchanges. The company is a world leader in financial instruments trading systems.

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OM AB (Optionsmäklarna) was a futures exchange founded by Olof Stenhammar in the 1980s to introduce trading in standardized option contracts in Sweden. OM acquired the Stockholm Stock Exchange in 1998 and unsuccessfully attempted acquisition of the London Stock Exchange in 2001.

During the Dot-com bubble in the early 21st century, OM launched a virtual European stock exchange called Jiway([1]). The project was not successful and was canceled on the 14th October 2002.

On 3 September 2003 the Helsinki Stock Exchange (HEX) merged with OM, and the joint company became OM HEX. On August 31, 2004, the brand name of the company was changed to OMX.

In 2005 OMX merged with the CSE, Copenhagen Stock Exchange, although it was really a takeover of CSE by OMX.

In December 2005 OMX started First North, an alternative exchange, in Denmark.

In 2006 OMX AB acquired the Markets Technology division of Computershare. The acquisition greatly expanded its product offerings and made its client list the largest of all trading system technology providers.

In June 2006 OMX expands the First North exchange to Stockholm, and has plans to include Helsinki.

On September 19, 2006 the Iceland Stock Exchange announced it will join the OMX Nordic Exchange, OMX and Eignarhaldsfelagid Verdbrefathing hf (EV), the owner of the Iceland Stock Exchange (ICEX) have signed a Letter of intent regarding an acquisition of EV.[2]

The group launched a virtual Nordic Stock Exchange on October 2, 2006, after merging the individual lists of shares traded at its three wholly-owned Scandinavian exchanges into a combined Nordic List. Companies listed on the Iceland Stock Exchange have also since been merged into the list. OMX also launched a pan-regional benchmark index, the OMX Nordic 40, on the same date, however the individual exchanges have also retained their own national benchmark indices.

On October 6, 2006, OMX acquired a 10% stake in Oslo Bors Holding ASA, the Oslo Stock Exchange.

On May 25, 2007, NASDAQ agreed to buy OMX for US$3.7 billion to tentatively form NASDAQ OMX Group. [3] In August 2007, however, Borse Dubai offered US$4 billion, prompting speculation of a bidding war.[4] On September 20 2007, Borse Dubai agreed to stop competing to buy OMX in return for 20% stake and 5 percent of votes in NASDAQ as well as NASDAQ's 28% stake in the London Stock Exchange. [5]

In North America OMX supports it's most high profile customers such as FINRA, ICAP, ISE, and BIDS Trading which are powered by OMX trading systems such as CLICK and SAXESS.

The company's activity is categorized into three divisions:

  • OMX - Official site
Retrieved from "http://en.wikipedia.org/wiki/OMX"
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