ATP will establish 'the Folkebørsen' - an electronic trading platform for investment certificates for pension clients.
Based on the wishes from the pension clients regarding the distribution of their funds on the different investment certificates arranged via the Folkebørsen, ATP will trade the orders via ATP's own investment company. The Copenhagen Stock Exchange makes the Saxess trading system available to ensure that the trades are executed as efficiently as possible.
All trades between ATP's investment company and ATP (SP savings) will be reported to the Copenhagen Stock Exchange and published to ensure transparency. The Exchange will also monitor that the investment funds comply with the disclosure requirements and ensure that e.g. the funds' intrinsic value is published daily in the Exchange's Official List, the Exchange's website and dispatched to all the Exchange's information recipients - including Danish newspapers.
"The cooperation means that the Copenhagen Stock Exchange will stand surety for the transparency which is decisive for the success of the Folkebørsen. The Copenhagen Stock Exchange has both expertise and experience in establishing transparency in the investment area so the clients will receive the necessary information," said CEO Lars Rohde, ATP.
The Folkebørsen becomes a part of the Copenhagen Stock Exchange's virtual universe when ATP introduces free investment choice for SP Savings.
"The fact that ATP has chosen the Copenhagen Stock Exchange to perform the functions relating to trading, supervision and administration of the SP scheme shows that efficiency and investor confidence are given high priority. The Exchange's expertise within efficient trading systems, confidence-building supervision and far-reaching distribution systems will be exploited fully. I also believe that other pension providers would benefit from a similar set-up, and the investors' free investment choice will have a positive rub-off effect on the share investment culture", commented President and CEO Hans-Ole Jochumsen, Copenhagen Stock Exchange.
The Exchange's cooperation with ATP is to be approved by the Danish Financial Supervisory Authority in pursuance of the Danish Securities Trading Act.
