May 30, 2005
SAXESS trading platform successfully launched at Vilnius Stock Exchange
Vilnius Stock Exchange, one of six exchanges within OMX Exchanges, today successfully launched the common Nordic trading platform SAXESS for trading on the cash markets. SAXESS is already in use at the stock exchanges in Copenhagen, Stockholm, Helsinki, Riga and Tallinn (all exchanges owned by OMX) as well as the stock exchanges in Oslo and Iceland. The launch of SAXESS, developed and operated by OMX Technology, is a milestone in OMX's effort to realize the vision of an integrated Nordic and Baltic securities market.
The final step of implementing Vilnius to the SAXESS platform is an important part of the harmonization of all the cash markets in the region. It provides customer benefits, such as harmonized Nordic and Baltic trading rules as well as one access point to eight different markets. The trading platform SAXESS and the common NOREX Member Rules are now in use in all the Nordic and Baltic marketplaces: Copenhagen, Oslo, Iceland, Stockholm, Helsinki, Tallinn, Riga and Vilnius.
"The implementation of SAXESS in Vilnius supports our strategy and vision. Thanks to our extensive experience in both the technology and exchange business, we have taken an important step in this successful harmonization of cash markets in the Nordic and Baltic region in a short period of time," said Magnus Böcker, President and CEO of OMX, expressing appreciation for the efforts of all market participants.
Through the single access point to the common trading platform, OMX Exchanges now offers access to approximately 80 percent of the Nordic and Baltic equity market. OMX Exchanges offers services to 677 listed companies and 144 trading members. The total market value of all listed companies amounts to EUR 601 billion.
The joint Baltic market
OMXs creation of a Nordic and Baltic marketplaces is done in parallel Baltic and Nordic steps. The Tallinn, Riga and Vilnius stock exchanges form a joint Baltic market to simplify access and minimize investment barriers. The joint Baltic market has a common list of Baltic securities, a common index and harmonized listing, trading and disclosure rules. The joint Baltic market also comprises common market statistics on the Internet as well as a cross-border Delivery versus Payment, DVP, link that connects the Baltic central securities depositories.
ABOUT OMX | OMX owns and operates the largest securities market in the Northern Europe and is a leading provider of marketplace services and solutions for the financial and energy markets. OMX consists of two divisions: OMX Exchanges and OMX Technology. OMX Exchanges owns and operates the stock exchanges in Copenhagen, Stockholm, Helsinki, Tallinn, Riga and Vilnius as well as the central securities depositories in Estonia and Latvia. Through OMX Exchanges OMX offers access to approximately 80 percent of the Nordic and Baltic securities market. OMX Technology is a world leading provider of solutions and services transaction technology, processing and outsourcing based on proven technology. OMX is listed on the stock exchanges in Stockholm, Helsinki and Copenhagen. For more information please visit www.omxgroup.com.
SAXESS trading platform
SAXESS is an electronic trading system developed by OMX Technology, which is used by the exchanges within OMX and the other exchanges of the NOREX alliance. SAXESS is a modern high-performance trading system that supports multiple exchanges running concurrently in multiple currencies. The system supports all common trading models, order types and instrument types.
NOREX is an alliance made up of the eight stock exchanges of the Nordic and Baltic countries. The securities are traded on the same platform under harmonized rules. The NOREX alliance consists of the exchanges in Copenhagen, Stockholm, Helsinki, Tallinn, Riga, Vilnius, Oslo and Iceland.
The NOREX Member Rules
The NOREX Member Rules are a result of the harmonization of the rules in force on the NOREX exchanges and they contain member terms and rules for trading in equities and bonds. The NOREX Member Rules are available at www.norex.com.
The BALTIX Index is a capitalization-weighted chain-linked total return index. The index is calculated daily using the most recent official closing prices of all shares listed on the Main Lists of the Riga, Tallinn and Vilnius stock exchanges and comparing the compound market capitalization plus dividends paid to the corresponding data of the previous trading day. The index constituents are subject to quarterly weight limits of 10 percent of the compound market capitalization. The index base value was set at 100.00 points on January 1, 2000. The index is calculated using prices in Euro.
The VILSE Stock Index is capitalization-weighted chain-linked total return indexes. VILSE is calculated on a daily basis using the most recent closing prices of all shares listed on the Vilnius Stock Exchanges Official and Current Lists. No weight limits are applied to the index constituents. The index calculation methodology of the VILSE index is harmonized with Estonian (TALSE) and Latvian (RIGSE) total return index methodology. The index base values were set at 100.00 points on January 1, 2000.
For more information:
Anna Rasin, Vice President
Marketing & Communications, OMX
+46 8 405 6612
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