Three Nordic stock exchanges adopt common trading platform

On 27 September the Helsinki, Tallinn and Riga stock exchanges harmonised their cash markets by adopting the SAXESS cash trading system, already used by the Stockholm Stock Exchange, thus taking the next step in OMX's vision of a fully integrated Nordic Baltic securities market. The cash market integration will generate benefits for members, enhance liquidity and promote trading in Finnish and Baltic equities. As a result of the integration, exchange members and investors will gain easy access to Finnish, Swedish and Baltic securities through one access point to the common trading system, and will also benefit from harmonized rules. The harmonisation of cash markets is in line with the creation of one Nordic Baltic market and includes benefits such as: harmonised trading hours for the Helsinki and Stockholm stock exchanges, harmonised trading day structure through the introduction of a closing call at the Helsinki, Tallinn and Riga stock exchanges, implementation of the NOREX member rules at the Helsinki Stock Exchange, harmonisation of the Tallinn and Riga rulebooks with NOREX member rules, the introduction of a joint Baltic market with jointly marketed securities, harmonised listing rules between the Riga and Tallinn stock exchanges and a cross-border delivery-versus-payment link between the Estonian and Latvian CSDs. Through a wider Nordic cooperation, the NOREX alliance, securities from seven exchanges can be traded on the same platform with harmonized rules. The NOREX alliance is made up of the exchanges in Stockholm, Helsinki, Tallinn, Riga, Copenhagen, Oslo and Iceland.

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