OM Technology In Extended Collaboration With The Copenhagen Stock Exchange

The Copenhagen Stock Exchange has signed an agreement with OM Technology to migrate Denmark's bond trading to OM's SAXESS trading system; Danish equity trading has been on SAXESS since June this year, within the framework of the Norex joint marketplace. Danish bonds are expected to start trading on SAXESS during the second quarter of the year 2000. Improvements previously implemented on the stock market are now being transferred to the Danish bond market, which is the Nordic region's biggest. Accordingly, OM Stockholm Exchange's members will gain better access to Danish bond trading. "Today's agreement marks yet another step in the process of deepening our Nordic collaboration. Things only being discussed in many countries are a reality here," announced Hans-Ole Jochumsen, the Copenhagen Stock Exchange's CEO. OM Technology will receive total licence and project revenue of over SEK 40 m from the sale of SAXESS to the Copenhagen Stock Exchange. In addition, a fixed fee and a floating, volume-dependent, charge is also payable, which is expected to amount to over SEK 20 m annually. OM Technology is the world's leading supplier of exchange technology. OM Technology is part of the OM group, which provides transaction technology services and products. OM operates exchanges (OM Stockholm Exchange and OM London Exchange) and develops technology that raises the efficiency of financial and commodities markets worldwide. Parent company OM Gruppen is quoted on OM Stockholm Exchange.