New Members Join The Oslo Stock Exchange

At its meeting yesterday the Stock Exchange Board approved Morgan Stanley & Co. International, E*Trade Sverige and Aker Fonds as new members of the Oslo Stock Exchange. Morgan Stanley & Co International is the first of the world´s leading investment firms to become a member of the Oslo Stock Exchange. Morgan Stanley´s membership of the Oslo Stock Exchange opens the Norwegian securities market to a broader international investor base, and will make a significant contribution to activity in the Norwegian market in the future, comments acting president Tor G. Birkeland, pointing out that this is precisely the effect which the arrival of international investment firms has had on other national stock markets. Morgan Stanley is expected to become a fully operational member of the exchange in the course of the next few months. The opportunity to operate as a remote member of the exchange became possible in connection with the introduction of the Oslo Stock Exchange´s new electronic trading system that came into use in February of this year. - This brings the number of remote members to eight, notes Birkeland, who also takes the opportunity to welcome E*Trade Sverige and Aker Fonds as members of the Oslo Stock Exchange. These two new members are offering Internet based trading. We have already seen a strong increase in Internet based trading. Investment firms which already offer this service report that it is taking an ever-increasing share of trading, states Birkeland. Internet based trading offers simpler and more reasonably priced access to the stock market for existing customers, as well as opening the market up for new players. We expect to see strong growth in this area, and regard the arrival of new members as an expression of great interest in the Oslo Stock Exchange and the Norwegian securities market. Board resolutions were: Morgan Stanley approved as a remote member. The Stock Exchange Board resolved to approve Morgan Stanley & Co. International Ltd. as a member of the Oslo Stock Exchange with the right to participate in trading and price quotation for equity capital instruments. The President of the Oslo Stock Exchange is authorised to determine the date and practical arrangements for membership to come into effect, though no later than 1 March 2000. E*Trade approved as a remote member. The Stock Exchange Board resolved to approve E*Trade Sverige AB as a member of the Oslo Stock Exchange with the right to participate in trading and price quotation of all financial instruments quoted on the Oslo Stock Exchange. The President of the Oslo Stock Exchange is authorised to determine the date and practical arrangements for membership to come into effect. Aker Fonds approved as a member. The Stock Exchange Board resolved to approve Aker Fonds ASA as a member of the Oslo Stock Exchange with the right to participate in price quotation of all financial instruments quoted on the Oslo Stock Exchange. The President of the Oslo Stock Exchange is authorised to determine the date and practical arrangements for membership to come into effect. In addition Prebon Marshall Yamane (UK) Ltd - Prebon Yamane Norway (Branch) is approved as a member of the Oslo Stock Exchange with the right to participate in price quotation of debt instruments. This membership replaces the existing remote membership of Prebon Yamane AB. The President of the Oslo Stock Exchange is authorised to determine the date and practical arrangements for membership to come into effect.