Everything about Omx totally explained
OMX AB (
Aktie
bolaget
Options
mäklarna/Helsinki Stock E
xchange) 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 eight
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.
OMX has been part of the
NASDAQ OMX Group since February 2008.
History
Origins
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, together with investment bank
Morgan Stanley Dean Witter, launched a virtual European stock exchange called
Jiway. The project wasn't successful and was cancelled on the 14th October 2002.
Acquisition of other exchanges
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. OMX then acquired the
Copenhagen Stock Exchange in January 2005 On
September 19,
2006 the
Iceland Stock Exchange owner
Eignarhaldsfelagid Verdbrefathing (EV) announced it would be acquired by OMX in a deal valuing the company at 250 million
SEK. The transaction was completed by the end of the year. The Markets Technology division of
Computershare was acquired in 2006. The acquisition greatly expanded its product offerings and made its client list the largest of all trading system technology providers.
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.
NASDAQ takeover
On
May 25 2007,
NASDAQ agreed to buy OMX for US$3.7 billion. In August 2007, however,
Borse Dubai offered US$4 billion, prompting speculation of a bidding war. On
September 20 2007, Borse Dubai agreed to stop competing to buy OMX in return for a 20% stake and 5 percent of votes in NASDAQ as well as NASDAQ's then 28% stake in the
London Stock Exchange. In a complex transaction, Borse Dubai acquired 97.2% of OMX's outstanding shares before selling them onto NASDAQ. The newly merged company was renamed the
NASDAQ OMX Group upon completion of the deal on
February 27,
2008.
OMX exchanges
Divisions
The company's stock market activities are categorized into three divisions:
Nordic Market (Copenhagen, Stockholm, Helsinki, Iceland)
Baltic Market (Tallinn, Riga, Vilnius)
First North (alternative exchange)
Technology
In North America OMX supports its most high profile customers such as FINRA, ICAP, ISE, and BIDS Trading which are powered by OMX trading systems such as CLICK and SAXESS.
OMX's technology customers include:
Abu Dhabi Stock Market
Athens Exchange
Australian Securities Exchange
Bahamas International Securities Exchange
Bahrain Stock Exchange
Barbados Stock Exchange
Bombay Stock Exchange
Boston Stock Exchange
Canadian Trading and Quotation System
Cairo & Alexandria Stock Exchange
Doha Securities Market
Dubai Financial Market
Dubai International Financial Exchange
Financial Industry Regulatory Authority
Hong Kong Exchanges and Clearing
ICAP
Icelandic Securities Depository
International Securities Exchange
Iraq Stock Exchange
Istanbul Stock Exchange
Jakarta Stock Exchange
Jamaica Stock Exchange
Malta Stock Exchange
Moscow Interbank Currency Exchange
Nigerian Stock Exchange
Newcastle Stock Exchange
NSX Corporate Stock Exchange
Palestine Securities Exchange
Philippine Dealing and Exchange Corporation
Port Moresby Stock Exchange
Saudi Arabia Stock Exchange (Tadawul)
Singapore Exchange
Shanghai Stock Exchange
Surabaya Stock Exchange
SWX Swiss Exchange
Thailand Futures Exchange
Trinidad and Tobago Stock Exchange
Turkish Derivatives Exchange
Wiener Börse AG
Zagreb Stock ExchangeFurther Information
Get more info on 'Omx'.
|
External Link Exchanges
Do you know how hard it is to get a link from a large encyclopaedia? Well we're different and will prove it. To get a link from us just add the following HTML to your site on a relevant page:
<a href="http://omx.totallyexplained.com">OMX Totally Explained</a>
Then simply click through this link from your web page. Our crawlers will verify your link, extract the title of your web page and instantly add a link back to it. If you like you can remove the words Totally Explained and embed the link in article text.
As long as your link remains in place, we'll keep our link to you right here. Please play fair - our crawlers are watching. Your site must be closely related to this one's topic. Any kind of spamming, dubious practises or removing the link will result in your link from us being dropped and, potentially, your whole site being banned. |
