Oslo Børs Separates Its Supervision Responsibilities From Its Commercial Activities

With effect from February 2004, Oslo Børs has established a separate section that will work exclusively with supervision and control duties. This represents a more focused approach to this function, and gives a clearer separation between the supervision/control responsibilities of Oslo Børs and its commercial activities. A separate section has also been established that brings together all commercial operations.

Following this change, the organisational structure of Oslo Børs will be as follows:

Senior Vice President Legal Affairs, Atle Degré, joins the senior management group of Oslo Børs with effect from the date of these changes.

"We have recognised a need to separate our supervisory duties from our commercial activities, in part to maintain confidence that Oslo Børs is able to operate its control and supervision duties without this causing any conflict with its commercial activities. By taking this step, Oslo Børs is ahead of development and players in the market should see this as an additional reassurance. The changes will also ensure that Oslo Børs can maintain a clearer focus and carry out the duties involved in its respective activities in a better way", explains Sven Arild Andersen, President and Chief Executive Officer of Oslo Børs.

Markets will be headed by Anders Brodin, Deputy Chief Executive Officer, and will comprise the operational aspects of the marketplace functions carried out by Oslo Børs. The section will in addition have responsibility for client relations, course and seminar activities and sales of financial market data. This means that all the commercial activities of Oslo Børs are brought together in a single section.

Supervision and Control will be headed by Henning Dokset, Senior Vice President, and will comprise market surveillance and monitoring of issuers, including the admission of companies to listing, monitoring information obligations, corporate governance practices, supervision of accounting reporting by issuers and other related duties.