Nasdaq Nordic
{{short description|Swedish-based subsidiary of Nasdaq, Inc.}}
{{Redirect|OMX}}
{{Use dmy dates|date=September 2020}}
{{Infobox company
| name = Nasdaq AB
| logo = NASDAQ Logo.svg
| type = Subsidiary
| foundation = {{start date and age|2003}}
| former_names = OMX AB (2003-2008)
Nasdaq OMX Nordic (2008-2014)
|
location = Stockholm, Sweden
| key_people = Hans-Ole Jochumsen
| products = Stock exchanges
| homepage = {{url|https://www.nasdaqomxnordic.com|nasdaqomxnordic.com}}
| parent = Nasdaq, Inc.
| industry = Financial services
| num_employees = 1,638 (2007){{cite web
|url=http://www.omxgroup.com/digitalAssets/42/42148_Q407_Final_version_English.pdf
|title=OMX Financial Year-End Report 2007
|access-date=29 February 2008
|publisher=OMX
|url-status=dead
|archive-url=https://web.archive.org/web/20080529085615/http://www.omxgroup.com/digitalAssets/42/42148_Q407_Final_version_English.pdf
|archive-date=29 May 2008}}
| revenue = SEK 4.305 billion (2007)
}}
File:Borshuset-2003-04-14.jpg building]]
Nasdaq Nordic is the common name for the subsidiaries of Nasdaq, Inc. that provide financial services and operate marketplaces for securities in the Nordic and Baltic regions of Europe.{{cite web
|url = https://newsclient.omxgroup.com/cdsPublic/viewDisclosure.action?disclosureId=719557&lang=en
|title = Nasdaq Nordic and Nasdaq Clearing Appoint New Board Members
|date = 12 July 2016
|access-date = 11 August 2016
|publisher = NASDAQ
|url-status = dead
|archive-url = https://web.archive.org/web/20160914031835/https://newsclient.omxgroup.com/cdsPublic/viewDisclosure.action?disclosureId=719557&lang=en
|archive-date = 14 September 2016
}}
Historically, the operations were known by the company name OMX AB (Aktiebolaget Optionsmäklarna/Helsinki Stock Exchange), created in 2003 with the merger between OM AB and HEX plc. In 2015, the legal entity OMX AB was renamed Nasdaq AB, but it also operates under the name Nasdaq OMX AB.{{cite news
|url = http://www.thetradenews.com/news/Regions/Americas/Nasdaq_drops_OMX_name_from_branding.aspx
|last = Bakie
|first = John
|date = 30 October 2014
|title = Nasdaq drops OMX name from branding
|newspaper = The Trade
|location = London
|access-date = 12 June 2015
|url-status = dead
|archive-url = https://web.archive.org/web/20160920021551/http://www.thetradenews.com/news/Regions/Americas/Nasdaq_drops_OMX_name_from_branding.aspx
|archive-date = 20 September 2016}}{{cite web
|url = http://www.solidinfo.se/foretag/nasdaq-aktiebolag/grunddata
|title = Nasdaq AB
|language = sv
|access-date = 11 August 2016
|work = Solidinfo.se
|url-status = live
|archive-url = https://web.archive.org/web/20160826093454/http://www.solidinfo.se/foretag/nasdaq-aktiebolag/grunddata
|archive-date = 26 August 2016}} The operations have been part of Nasdaq, Inc. (formerly known as Nasdaq OMX Group) since February 2008. {{Cite web |last=Jaworski |first=Alexa |date=February 29, 2008 |title=OMX Acquisition Complete, Nasdaq Agrees to Invest in OTC Commodities Platform |url=http://www.securitiesindustry.com/news/22064-1.html |url-status=dead |archive-url=https://web.archive.org/web/20110716031951/http://www.securitiestechnologymonitor.com/news/22064-1.html |archive-date=Jul 16, 2011 |website=Securities Technology Monitor}}
On 23 August 2023, the company formed EuroCTP as a joint venture with 13 other bourses, in an effort to provide a consolidated tape for the European Union, as part of the Capital Markets Union proposed by the European Commission.
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{{cite web |url=http://www.nasdaqomx.com/whoweare/milestones/ |title=Milestones |access-date=28 September 2010 |publisher=NASDAQ OMX Group |url-status=live |archive-url=https://web.archive.org/web/20100826051825/http://www.nasdaqomx.com/whoweare/milestones/ |archive-date=26 August 2010}} and unsuccessfully attempted acquisition of the London Stock Exchange in 2001.{{cite news |last= Treanor |first= Jill |title= Stock Exchange teams up with OM |url= https://www.theguardian.com/business/2002/dec/10/3 |work= The Guardian |date= 10 December 2002 |access-date= 29 February 2008 |location= London |url-status= live |archive-url= https://web.archive.org/web/20140910093929/http://www.theguardian.com/business/2002/dec/10/3 |archive-date= 10 September 2014}} During the dot-com bubble in the early 2000s, OM, together with investment bank Morgan Stanley Dean Witter, launched a virtual European stock exchange called Jiway. The project was not successful{{cite news |title=OM losses shock analysts |url=http://news.bbc.co.uk/1/hi/business/1283149.stm |work=BBC News |date=18 April 2001 |access-date=29 February 2008 |url-status=live |archive-url=https://web.archive.org/web/20060512141501/http://news.bbc.co.uk/1/hi/business/1283149.stm |archive-date=12 May 2006}} and was cancelled on 14 October 2002.{{cite news
|title = City briefing: Jiway eases bourse clutter
|url = https://www.theguardian.com/business/2002/oct/15/3
|work = The Guardian
|date = 15 October 2002
|access-date = 29 February 2008
|location = London
|url-status = live
|archive-url = https://web.archive.org/web/20140909220803/http://www.theguardian.com/business/2002/oct/15/3
|archive-date = 9 September 2014}}
=Acquisition of other exchanges=
On 3 September 2003, the Helsinki Stock Exchange (HEX) merged with OM and the joint company became OM HEX.{{cite news |last=Leighton-Jones |first=Phillipa |title=OMHex appoints new chief executive as trading begins |url=http://www.highbeam.com/doc/1G1-107354904.html |work=Financial News |date=4 September 2003 |access-date=29 February 2008 |url-status=dead |archive-url=https://web.archive.org/web/20110517025440/http://www.highbeam.com/doc/1G1-107354904.html |archive-date=17 May 2011}} On 31 August 2004, the company name was changed to OMX.{{cite news
|title= OMHEX changes name to OMX |url=http://www.finextra.com/fullpr.asp?id=1849
|work=Finextra |date=31 August 2004 |access-date=29 February 2008}} OMX then acquired the Copenhagen Stock Exchange in January 2005 for €164 million.{{cite news |last=Akerhielm |first=Maria |title=OMX to Buy Copenhagen Exchange |work=Dow Jones Newswires |date=16 November 2004 |access-date=29 February 2008 |url=https://www.wsj.com/articles/SB110055938532074717 |url-status=live |archive-url=https://web.archive.org/web/20160310125456/http://www.wsj.com/articles/SB110055938532074717 |archive-date=10 March 2016}} On 19 September 2006, Iceland Stock Exchange owner Eignarhaldsfelagid Verdbrefathing (EV) announced it would be acquired by OMX in a deal valuing the company at 250 million SEK.{{cite news|title=OMX to buy Iceland bourse owner in all share deal |work=AFX News |date=19 September 2006 |access-date=29 February 2008 |url=https://www.forbes.com/business/feeds/afx/2006/09/19/afx3026507.html }}{{dead link|date=January 2022|bot=medic}}{{cbignore|bot=medic}} The transaction was completed by the end of the year.
The company took a 10% stake in Oslo Børs Holding ASA, the owner of the Oslo Stock Exchange in October 2006. As of September 2016, Nasdaq is not a major shareholder in the Oslo Stock Exchange holding company, which following a merger is currently called Oslo Børs VPS Holding ASA. Nasdaq has, however, publicly stated its interest in eventually acquiring the Oslo Stock Exchange.{{cite web
|url = http://www.osloborsvps.no/obvps_eng/Oslo-Boers-VPS/The-share/Top-20-Shareholders
|title = Top 20 Shareholders
|access-date = 2 September 2016
|publisher = Oslo Børs VPS
|url-status = live
|archive-url = https://web.archive.org/web/20160923233002/http://www.osloborsvps.no/obvps_eng/Oslo-Boers-VPS/The-share/Top-20-Shareholders
|archive-date = 23 September 2016}}{{cite web
|url = http://www.osloborsvps.no/obvps_eng/Oslo-Boers-VPS/About-Oslo-Boers-VPS
|title = About Oslo Børs VPS
|access-date = 2 September 2016
|publisher = Oslo Børs VPS
|url-status = live
|archive-url = https://web.archive.org/web/20160831131113/http://www.osloborsvps.no/obvps_eng/Oslo-Boers-VPS/About-Oslo-Boers-VPS
|archive-date = 31 August 2016}}{{cite news
|title = Nasdaq interested in Oslo Bors, but feels Norwegian chill
|work = Reuters|date = 31 March 2016
|access-date = 2 September 2016
|url = https://www.reuters.com/article/nasdaq-oslo-bors-vps-idUSL2N1731R2
|url-status = live
|archive-url = https://web.archive.org/web/20160915135942/http://www.reuters.com/article/nasdaq-oslo-bors-vps-idUSL2N1731R2
|archive-date = 15 September 2016}}
In November 2007, OMX acquired the Armenian Stock Exchange and the Central Depository of Armenia.{{cite web|url=http://www.cisionwire.com/omx/omx-acquires-the-armenian-stock-exchange-and-the-central-depository-of-armenia-2|title=OMX - press release|publisher=Cision Wire|access-date=21 November 2007|url-status=dead|archive-url=https://web.archive.org/web/20090716004433/http://www.cisionwire.com/omx/omx-acquires-the-armenian-stock-exchange-and-the-central-depository-of-armenia-2|archive-date=16 July 2009}}
=Expansion of offerings=
In December 2005, OMX started First North, an alternative exchange for smaller companies, in Denmark. The First North exchange expanded to Stockholm in June 2006, Iceland in January 2007 and Helsinki in April 2007.{{cite news
|title= OMX: First North Services Expand to Finland |work=Business Wire
|date=3 April 2007 |access-date=29 February 2008
|url=http://www.accessmylibrary.com/coms2/summary_0286-30215294_ITM}} 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.{{Cn|date=August 2021}}
On 2 October 2006, the group launched a virtual Nordic Stock Exchange after merging the individual lists of shares traded at its three wholly owned Nordic exchanges into a combined Nordic List.{{cite press release
|title= The OMX Nordic Exchange strengthens its position as a leading European marketplace
|publisher=OMX |date=2 October 2006 |access-date=29 February 2008 |url= http://www.omxnordicexchange.com/newsandstatistics/marketnotices/Article/?msgId=619404&lang=en}} Companies listed on the Iceland Stock Exchange have also since been merged into the list. OMX also launched a pan-regional benchmark index known as the OMX Nordic 40 on the same date; however, the individual exchanges also retained their own national benchmark indices.{{Cn|date=August 2021}}
=NASDAQ takeover=
On 25 May 2007, American stock exchange NASDAQ agreed to buy OMX for US$3.7 billion.{{cite news |title=Nasdaq bids $3.7bn for Nordic OMX |url=http://news.bbc.co.uk/1/hi/business/6690419.stm |work=BBC News |date=25 May 2007 |access-date=29 February 2008 |url-status=live |archive-url=https://web.archive.org/web/20071004024503/http://news.bbc.co.uk/1/hi/business/6690419.stm |archive-date=4 October 2007}} In August, however, Borse Dubai offered US$4 billion, prompting speculation of a bidding war.{{cite news |title=Dubai in $4bn bid for Nordic OMX |url=http://news.bbc.co.uk/2/hi/business/6951878.stm |work=BBC News |date=17 August 2007 |access-date=29 February 2008 |url-status=live |archive-url=https://web.archive.org/web/20081123070525/http://news.bbc.co.uk/2/hi/business/6951878.stm |archive-date=23 November 2008}} On 20 September 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.{{cite news |last=Magnusson |first=Niklas |author2=McSheehy, Will |title=Dubai to Buy Stakes in Nasdaq, LSE; Strikes OMX Deal |url=https://www.bloomberg.com/apps/news?pid=20601087&sid=aqzGAS7oAezg |work=Bloomberg |date=20 September 2007 |access-date=29 February 2008 |url-status=live |archive-url=https://web.archive.org/web/20080116135127/http://www.bloomberg.com/apps/news?pid=20601087 |archive-date=16 January 2008}} In a complex transaction, Borse Dubai acquired 97.2% of OMX's outstanding shares before selling them to NASDAQ.{{cite news |title= Borse Dubai completes planned sale of OMX to Nasdaq |url= http://www.iht.com/articles/ap/2008/02/27/business/EU-FIN-Sweden-Borse-Dubai-OMX.php |agency= Associated Press|work= International Herald Tribune |date=27 September 2007 |access-date=29 February 2008}} The newly merged company was renamed the NASDAQ OMX Group{{cite web |last1=Grant |first1=Jeremy |title=Nasdaq OMX launches new equity platform |url=https://www.ft.com/content/eb6f9f68-f5a5-11dc-8d3d-000077b07658 |archive-url=https://ghostarchive.org/archive/20221210/https://www.ft.com/content/eb6f9f68-f5a5-11dc-8d3d-000077b07658 |archive-date=10 December 2022 |url-access=subscription |url-status=live |website=ft.com |access-date=12 September 2021 |date=19 March 2008}} upon completion of the deal on 27 February 2008.{{cite web |last1=Cameron |first1=Doug |title=Nasdaq OMX Takes a Rest After String of Mergers. Exchange's Focus Reaching Synergies But Hands are Full |url=https://www.wsj.com/articles/SB121918367696354633 |website=wsj.com |access-date=12 September 2021 |date=20 August 2008}}
Exchanges
{{location map+ |Europe |float=right|width=250 |caption= Stock exchanges operated by Nasdaq Nordic |places=
{{location map~ |Europe |lat=55.676111 |long= 12.568333 |label=Copenhagen|position=left}}
{{location map~ |Europe |lat=59.329444 |long= 18.068611 |label=Stockholm|position=left}}
{{location map~ |Europe |lat=60.170833 |long=24.9375 |label=Helsinki |position=top}}
{{location map~ |Europe |lat=64.133333 |long=-21.933333 |label=Reykjavík|position=right}}
{{location map~ |Europe |lat=59.437222 |long= 24.745278 |label=Tallinn|position=right}}
{{location map~ |Europe |lat=56.948889 |long= 24.106389 |label=Riga|position=right}}
{{location map~ |Europe |lat=54.683333 |long= 25.283333 |label=Vilnius|position=bottom}}
}}
The following exchanges, with official market names in parentheses, are operated by Nasdaq Nordic:{{cite web
|url = http://www.nasdaqomxnordic.com/shares/listed-companies/nordic-large-cap
|title = Nordic Large Cap
|access-date = 11 August 2016
|publisher = NASDAQ
|url-status = dead
|archive-url = https://web.archive.org/web/20160823045222/http://www.nasdaqomxnordic.com/shares/listed-companies/nordic-large-cap
|archive-date = 23 August 2016
}}
- Copenhagen Stock Exchange (Nasdaq Copenhagen)
- Stockholm Stock Exchange (Nasdaq Stockholm)
- Helsinki Stock Exchange (Nasdaq Helsinki)
- Iceland Stock Exchange (Nasdaq Iceland)
- Tallinn Stock Exchange (Nasdaq Baltic)
- Riga Stock Exchange (Nasdaq Baltic)
- Vilnius Stock Exchange (Nasdaq Baltic)
=Divisions=
The company's stock market activities are made up of three entities:
- Nordic Market (Copenhagen, Stockholm, Helsinki, Iceland)
- Baltic Market (Tallinn, Riga, Vilnius)
- First North (alternative exchange)
See also
- List of stock exchanges
- List of European stock exchanges
- List of Danish companies
- List of Finnish companies
- List of Faroese companies
- List of Greenlandic companies
- List of Icelandic companies
- List of Swedish companies
- List of Ålandic companies
- Nasdaq Copenhagen
- Nasdaq Stockholm
- Nasdaq Helsinki
- Nasdaq Vilnius
- Nasdaq Riga
- Nasdaq Tallinn
- Nasdaq Iceland
- Nasdaq First North
References
{{reflist|30em}}
External links
- [https://www.nasdaq.com www.nasdaq.com] - Official group site
- [http://www.nasdaqomxnordic.com nasdaqomxnordic.com] - Official Nordic site
- [http://www.nasdaqbaltic.com nasdaqbaltic.com] - Official Baltic site
- [https://web.archive.org/web/20160528155528/https://nasdaqomx.am/en/index.htm Nasdaq OMX Armenia] - Official Armenian site
{{nasdaqomx}}
{{Stock exchanges top 25}}
Category:Swedish companies established in 2003
Category:Financial services companies established in 2003
Category:2003 mergers and acquisitions
Category:2005 mergers and acquisitions
Category:2006 mergers and acquisitions
Category:2007 mergers and acquisitions