The division is headed by Jukka Ruuska, and Kerstin Hessius continues as president of Stockholmsbörsen, with a dual role as deputy to Jukka Ruuska. The division has four business areas; Cash Markets headed by Jouni Torasvirta, Derivatives Markets headed by Henrik Paulsson, Settlement & Depository headed by Seppo Rantanen and Baltic Operations headed by Gert Tiivas. As a part of HEX Integrated Markets' continuous efforts to enhance marketplace credibility, an integrated surveillance function is being introduced, headed by Anders Ackebo. More information about HEX Integrated Markets' organization is available at www.omhex.com.
In connection with reorganization of tasks and reduction of overlap related to the merger, OMHEX has concluded rationalization negotiations in its Finnish operations, including both HEX Integrated Markets and OM Technology divisions. As a result of these negotiations, at the most 37 employees will be given notice during the first quarter of 2004. In addition, nine fixed-term employments will be discontinued. Most of the affected positions are within OM Technology. OMHEX has also announced that, in addition to earlier streamlining and focus programs, it is estimated that 10 more positions will be reduced in Sweden in the first quarter of 2004.
HEX and Swedish OM merged in September 4, 2003 to form OMHEX, the largest securities market in Northern Europe and a leading provider of marketplace services and solutions for the financial and energy markets. OMHEX is made up of two divisions: OM Technology and HEX Integrated Markets. The former HEX Securities Services, HEX Information Solutions and HEX Corporate IT now form OM Technology's Finnish operations.
