HEX Integrated Markets Introduces Harmonised Fee Levels

As a part of creating an integrated Nordic and Baltic home market, HEX Integrated Markets introduces harmonization of fee levels between the Finnish and Swedish cash markets and a new price list for Finnish market data products. The new fee structure for HEX Helsinki represents customer benefits generated through the integration of Nordic markets. Further steps towards one market will be taken next year when trading and market data in cash as well as derivatives products will be offered on joint platforms. This will give easy access to securities from all HEX Integrated Markets' exchanges, Helsinki, Stockholm, Tallinn and Riga, through one trading and market data system.

"The new fee list is a result of fruitful discussions with the exchange's members, and we are delighted to present new, lower fees for our Finnish cash products. Through the harmonisation of fee levels in Helsinki and Stockholm we take an important first step in fulfilling our vision of one enlarged home market. This will further increase the competitive strength of HEX Integrated Markets", says Jouni Torasvirta, Head of Cash Markets in HEX Integrated Markets.

The new fee list for Finnish cash equity products will be effective as of January 1, 2004. The new pricing structure involves a general lowering of fees by about 10 per cent in Finnish cash equity products, resulting in a harmonized fee level between HEX Helsinki and Stockholmsbörsen. In brief, the following changes will be made in cash trading fees:

• A maximum fee per trade will be introduced
• A new price list III targeting members transacting in larger volumes will be offered in addition to current pricelists I and II
• Fees for trading in covered warrants and ETFs will be reduced
• The minimum monthly fee will be reduced

The new fee list for HEX Helsinki market data will be effective as of April 1, 2004. The fee structure for market data will be changed to better reflect the level of service demand. Consequently the fees for private investors will be lowered and the fees for professional users will be increased.

The fee changes are expected to have a marginal net impact on OMHEX's total revenues and result.