Both these investment firms are already connected to the trading system (SAXESS) that Oslo Børs will shortly introduce, and this makes it simpler for these firms to link into the Norwegian market.
Oslo Børs has taken the opportunity of the migration to SAXESS to intensify its marketing in order to attract additional international investment firms as members.
"One of the major reasons for our decision to migrate to SAXESS was that it makes it easier to attract international members. The announcement that we have recruited two major international players as members gives a clear signal that this was a sound decision. Moreover this represents an important step in the process of creating a competitive common Nordic market through the NOREX alliance," comments Sven Arild Andersen, President of Oslo Børs.
Oslo Børs currently has 38 members including the two new members. Firms operating from offices in Norway account for 29 members, whilst the balance are remote members. Response from the firms that Oslo Børs has contacted in respect of potential membership has been positive, and the number of remote members is expected to increase further during the course of 2002.
"The involvement of more international investment firms in the Oslo market will lead to increased visibility for the Norwegian market and for companies listed on Oslo Børs. This will in turn be positive for the Norwegian securities market, and not least for liquidity and price quotation - two of the most important factors in an efficient market - adds Sven Arild Andersen.
Further information on the two new members
Credit Suisse First Boston (Europe) Ltd is a UK registered investment firm wholly owned by Credit Suisse First Boston (UK) Investment Holdings, and forms part of the Credit Suisse Group. The Credit Suisse Group has its headquarters in Zurich, and can trace its history back to 1856. CSFB has branches in Frankfurt, Paris, Amsterdam and Seoul, and the group is in total a member of 24 exchanges, clearing organisations, trade associations and regulatory bodies. This includes remote membership of Stockholmsbörsen and the Copenhagen Stock Exchange.
Crédit Agricole Indosuez Cheuvreux Nordic AB is an investment firm that has been subject to regulation by the Swedish Financial Supervisory Authority since 1997. CAIC operates in the Nordic countries, and is a member of Stockholmsbörsen, the Copenhagen Stock Exchange and the Helsinki Stock Exchange. The firm's Norwegian business has so far been carried out through local investment firms. CAIC's focus is on broking Nordic shares to international investors, principally in other European countries but also to other investors active in the Nordic markets.
