As a consequence of full stock exchange status, companies listed on NGM receive a seal of approval by virtue of the review and supervision for which the Finansinspektionen is now responsible, whilst at the same time, members enjoy increased security. In addition, stock exchange status means that a number of institutional investors can now invest in companies listed on NGM whereas before they were restricted from so doing by their investments rules. "NGM will be offering the same services as Stockholmsbörsen, but at European prices. Our starting point is to listen primarily to our members and the companies listed. We will be regularly offering new services to our members and companies listed. This enables our members, in turn, to give their customers even better service", says Ulf Cederin, Chief Executive Officer of Nordic Growth Market, and NGM.
Finansinspektionen has been dealing with NGM's application for stock exchange status for two years. They have conducted a thorough review and analysis of NGM's operations. Among other things, four persons from Finansinspektionen spent four weeks monitoring NGM's trading system. The new stock exchange status will apply from April 22nd.
In January 1999, NGM was granted a license as an authorized market place. In June 2000, NGM's Tellus electronic trading system, delivered by Univits, was launched The application for stock exchange status was submitted in May 2001. In December 2002, NGM launched a platform for trading in unlisted shares, Nordic OTC. In March 2003, a market place was launched for derivatives trading, Nordic Derivatives Exchange, NDX.
"Four years ago we were faced with a choice: to either continue building and improving NGM or to create something completely new. We chose to continue working with NGM. The fact that we have now obtained stock exchange status is confirmation that our efforts have produced results. In the near future, we will be increasing our demands on the companies listed in order to further enhance quality", says Ulf Cederin, Chief Executive Officer of NGM.
Information concerning NGM
Nordic Growth Market, NGM, is one of Sweden's two stock exchanges. NGM currently offers
trading on the NGM Equity list, on which 49 companies are currently listed. NGM will also be
offering official listings of shares in accordance with relevant EU directives, something which
can only occur on a stock exchange. In the future, this will also apply to other financial
instruments. Investors can buy and sell shares listed on the stock exchange through its 21
members. Trading in unlisted small and medium-sized growth companies is offered through
Nordic OTC. NGM also offers derivatives trading through the Nordic Derivatives Exchange,
NDX. The stock exchange is characterized by a high degree of service provided to companies, a
high level of innovative yet proven and robust IT functionality an willingness to be open to
international co-operation as well as a small, flexible and cost-efficient organization.
