OMX Nordic Exchange, a part of the NASDAQ OMX Group, Inc. (NASDAQ: NDAQ) (NASDAQ OMX Group) announced that Clal Finance Global Markets Ltd has become the first international Certified Advisor on First North. Today, there are 59 unique Certified Advisors on First North at the OMX Nordic Exchange.
Clal Finance Group is one of Israel's largest financial institutions outside the banking system and provides a broad array of financial services ranging from portfolio management to brokerage and underwriting services. The Group owns and manages mutual funds, an in-house hedge fund, and offers individually tailored structured products to clients. Clal Finance Group has significant operating experience in the Israeli market, and about 15,5 billion USD in assets under management in Israel and abroad.
“We are very pleased to welcome Clal Finance as the first international Certified Advisor on First North, especially given the amount of growth companies in Israel. First North is today the second largest growth marketplace in Europe and we see a growing interest for First North from many different parts of the world. The high trading velocity and activity on First North will truly be a compelling factor for Israeli companies chosing between different growth markets in Europe”, says Jenny Rosberg, Senior Vice President of Global Corporate Client Group, OMX Listings & Capital Markets at Nasdaq OMX.
All companies that wish to join First North must engage a Certified Adviser in connection with the application process. The Certified Adviser has the obligation to provide support and ensure that the company continuously meets the obligations associated with having shares admitted to trading on First North. Furthermore, the Certified Adviser has the obligation to constantly monitor the company's compliance with the rules of First North and report any transgressions to the Nordic Exchange.
The NASDAQ OMX Group, Inc. is the world's largest exchange company. It delivers trading, exchange technology and public company services across six continents, and with over 3,900 companies, it is number one in worldwide listings among major markets. NASDAQ OMX offers multiple capital raising solutions to companies around the globe, including its U.S. listings market; the OMX Nordic Exchange, including First North; and the 144A PORTAL Market. The company offers trading across multiple asset classes including equities, derivatives, debt, commodities, structured products and ETFs. NASDAQ OMX technology supports the operations of over 60 exchanges, clearing organizations and central securities depositories in more than 50 countries. OMX Nordic Exchange is not a legal entity but describes the common offering from Nasdaq OMX exchanges in Helsinki, Copenhagen, Stockholm, Iceland, Tallinn, Riga, and Vilnius. For more information about NASDAQ OMX, visit www.nasdaqomx.com.
