The recent years' structural growth in fixed income markets has increased demand
for clearing and electronic trading as well as for higher levels of
transparency. In response, OMX will organize fixed income related products and
services under a single unit as of 1 January 2008. The aim is to broaden OMX's
presence in expanding fixed income markets.
“Fixed income markets are an example of an important part of the financial
market that often falls outside the traditional exchanges. OMX has previously
delivered technology solutions to electronic fixed income markets, and we
operate a growing Nordic fixed income market. A certain measure of OMX's
strategy is to reach beyond traditional equity markets, whether it might be
commodities, fixed income or foreign exchange,” says Magnus Böcker, VD OMX.
The international fixed income market is currently undergoing major structural
change. Electronic trading is increasing parallel with rising turnover in
government securities as well as credit bonds. In addition, recent turbulence on
financial markets underlines the need for transparency and central counterparty
clearing. In 2007, the average volume of fixed income derivatives cleared by OMX
daily is approximately SEK 100 billion, compared to around SEK 30 billion three
years ago.
“Recent structural growth has increased the demand for central counterparty
clearing and electronic trading combined with rising demand for transparency on
the world's fixed income markets. By strengthening our organization, OMX creates
stronger possibilities to develop the fixed income markets,” says Jukka Ruuska,
President of Nordic Marketplaces at OMX.
OMX products and services meet all these demands, and the greater focus on fixed
income trading will further improve opportunities for growth. Until September
2007, OMX revenues from fixed income related products and services were
approximately SEK 225 million.
Erik Thedéen, currently head of Public Affairs at OMX, has been appointed head
of the new fixed income organization.
For more information, please contact:
Heidi Wendt, OMX +46 8 405 72 93
About OMX | OMX is a leading expert in the exchange industry. The OMX Nordic
Exchange comprises over 800 companies including its alternative market First
North. OMX provides technology to over 60 exchanges, clearing organizations and
central securities depositories in over 50 countries. The Nordic Exchange is not
a legal entity but describes the common offering from OMX exchanges in Helsinki,
Copenhagen, Stockholm, Iceland, Tallinn, Riga, and Vilnius. OMX is a Nordic
Large Cap company in the Financials sector on the OMX Nordic Exchange. For more
information, please visit www.omxgroup.com.
