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Oslo Børs: New Market-Makers In The Derivatives Market

Date 11/06/2004

Eden Rock Securities and Kaupthing ASA have signed market-maker agreement in the Norwegian derivatives market. Eden Rock Securities, a subsidiary of the English investment firm Eden Rock Capital Management, has entered into a market-maker agreement through their membership on EDX London. Kaupthing ASA, a subsidiary company of Kaupthing Bank, has entered into a market-maker agreement through their membership on Oslo Børs.

The level of activity in the derivatives market increased significantly in the early months of this year, and this has attracted international attention. This is also the main reason for Eden Rock Securities to take an interest in the Norwegian market in addition to its existing activities as a market maker in Swedish derivatives products and on Eurex.

We noted a sharp increase in turnover in the Norwegian derivatives markets in the first quarter. This, combined with strong interest in the oil market, has encouraged us to participate in the Norwegian market, explains Barney Stirling of Eden Rock Securities.

Kaupthing is also a member on Stockholmsbörsen and Eurex in Frankfürt, and wish to be more present in the Norwegien market.

Our ambition is to be a greater participant in Norway, and thats why we want to be more active in derivatives, says Roy Coleman of Kaupthing.

Oslo Børs has been part of Linked Exchange and Clearing (LEC) together with Stockholmsbörsen, the Copenhagen Stock Exchange, EDX-London and the related local clearing houses since 1977. Investors can access the derivatives products of all these exchanges through a common trading system.

The Norwegian derivatives market has seven market-makers in total, of which two are foreign.