As of November 1, 2007, the OMX Nordic Exchange will reduce its fees related to cash equity trades reported to the Stockholm, Copenhagen and Helsinki exchanges. The fees for trade reporting were reduced by 50 percent in April and now the prices will be reduced by approximately another 50 percent.
“OMX Nordic Exchange is further strengthening the offer for trade reporting to our customers, by reducing the fees for this service by approximately another 50 percent”, says Jukka Ruuska, President Nordic Marketplaces.
The fee reductions are one step in the Nordic Exchange's offering of products for trade reporting for Markets in Financial Instruments Directive (MiFID), the EU-regulations that will be introduced in November as part of the development of the European financial market. In addition to the fee cut, OMX will simplify the reporting facility and extend the offer to securities from all over the European Union.
Based on trading activity during the last 12 months the fee reduction would have had a negative effect on OMX revenues with approximately SEK 25 million, on a yearly basis.
