OMX Streamlines Operations In Finland

OMX has initiated streamlining measures in its operations in Finland to improve efficiency within the Derivatives Markets and Global Services business areas.

In line with the creation of an integrated Nordic Baltic securities market, OMX launched an integrated Finnish Swedish derivatives exchange and clearinghouse in June. All derivatives trading will be conducted at the integrated derivates exchange by the end of 2004. The reorganization of Derivatives Markets is expected to lead to a reduction of 10 positions in Finland. The affected personnel will be offered possibilities to relocate to Stockholm.

The successful implementation of a common equity and derivatives trading platform will enable OMX to discontinue maintenance and development of local trading environments in Finland. Combined with the phase out of certain local support systems, the planned measures are expected to lead to the loss of approximately another 8 positions within Global Services in Finland.

The planned rationalization measures are a part of the synergies announced in connection with the merger between OM and HEX in May 2003.