- The Nordic Exchange to implement circuit breakers and trading safeguards on June 2nd, 2008

OMX Nordic Exchanges in Helsinki, Iceland, Stockholm and Copenhagen have
decided to adopt circuit breakers (volatility interrupters) to reduce
uncertainty during volatile periods. In addition, trading safeguards to avoid
erroneous orders will be introduced. The set-up of circuit breakers and trading
safeguards is based on the results of a customer consultation carried out in
H2, 2006. 

Circuit breakers will be implemented on the following instruments: equities
(including First North) and investment funds/ETFs. 

Definition of circuit breakers: Circuit breakers interrupt matching (for up to
4 minutes) when the price movements in a security become relatively large. The
purpose is usually to give the market participants a few minutes to evaluate
any new information, reconsider their interests or remove any erroneous orders.
Circuit breakers have two types of reference prices: a static price and a
dynamic price range. When a circuit breaker is triggered continuous trading is
interrupted by a brief call auction. 

Definition of trading safeguards: Trading safeguards are to be used
simultaneously with Circuit breakers. A trading safeguard rejects orders that
deviate significantly from last traded price. Compared to circuit breakers the
price range for the safeguards will be wider and the purpose of the safeguards
is primarily to avoid erroneous order entries. 

The circuit breakers and trading safeguards functionality on the Helsinki,
Iceland, Copenhagen and Stockholm markets will be implemented in conjunction
with the next SAXESS release, scheduled for June 2nd, 2008 

For further information concerning this exchange notice, please contact Magnus
Hardarson or Baldur Thorlacius, telephone + 354 525 2850.