OMX has entered a partnership with the St Petersburg Exchange and RX, a group of venture capitalists, to create the International Exchange St Petersburg, IXSP. OMX will deliver the platform for trading and price dissemination as well as provide its expertise in creating marketplaces for small and mid sized growth companies.
The Russian capital market is growing and facing increasing needs to ensure efficient capital allocation. IXSP, International Exchange St Petersburg, will offer primarily small and mid-sized Russian growth companies access to international capital without having to seek listing on an exchange outside Russia. Adhering to international standards, IXSP aims to become a strong and developed securities market that will act as an entry point for international investors seeking Russian investment opportunities.
As a result of the partnership, the different parties will become owners of 1/3 each of the new company.
IXSP will benefit from OMX’s experiences of integrating the Nordic Exchange, creating the alternative market First North in Denmark, Sweden, Iceland and Finland, and providing technology to more than 60 exchanges in over 50 countries.
The St Petersburg Exchange operates exchanges in St Petersburg, including the St Petersburg Stock Exchange, the third largest exchange in Russia. The St Petersburg Exchange will operate IXSP and contribute with its local knowledge and expertise in running exchanges in Russia.
RX is a group of venture capitalists focused on Russia, headed by Gunnar Nilsson, founder of VIS-able International AB and EM Capital Ltd. RX includes Alpcot Capital Management Ltd, an asset management company regulated by the Financial Services Authority in the UK and founded by Björn Lindström and Katre Saard. RX has a vast experience of connecting small and mid-sized Russian companies with international and Russian venture capital.
About OMX
OMX is a leading expert in the exchange industry. Through the Nordic Exchange, OMX offers access to approximately 80 percent of the Nordic and Baltic securities market. The Nordic Exchange is a term used for marketing purposes and is not a legal entity. It describes the common offering from the Helsinki Stock Exchange, Copenhagen Stock Exchange, Stockholm Stock Exchange, Iceland Stock Exchange, Tallinn Stock Exchange, Riga Stock Exchange and Vilnius Stock Exchange. OMX integrated technology solutions cross the transaction chain enabling efficient securities transactions for over 60 exchange organizations in more than 50 countries. OMX is a Nordic Large Cap company in the Financials sector on the OMX Nordic Exchange. For more information, please visit www.omxgroup.com
