OM Announces Completion Of Jiway Limited Restructuring

OM announced today the final details of the restructuring of Jiway Limited, the exchange operations within Jiway. As from Friday 12 October, the functions of Jiway Limited in London will be fully transferred to the OM London Exchange. Of the 45 staff, 29 will transfer to the OM London Exchange and will continue to operate the Jiway market under the aegis of that exchange's Recognised Investment Exchange (RIE) regulatory status. The remaining 16 members of staff will be leaving the company.

The OM London Exchange is headed by Peter Cox, Chief Executive. Ian McNeil, former Chief Operating Officer of Jiway Holdings, will be leaving the company altogether and returning to investment banking, while Lynton Jones, former Chairman and CEO of Jiway Holdings, will act as a consultant to OM on a project basis.

- I am grateful to all the staff of Jiway for their contribution in building the Jiway platform, and in particular to Ian McNeil and Lynton Jones. Current market conditions do not di-minish in any way the Jiway staff's achievement in creating in a very short space of time such an innovative and groundbreaking exchange, said Per E. Larsson, President and CEO of OM.