Finansinspektionen has been dealing with NGM's application for Stock Exchange status for two years. They have conducted a thorough review and analysis of NGM's operations, whereof a review and audit of the trading system, Tellus, delivered by Univits constituted a material part of the Stock Exchange authorization of NGM.
Today Univits technology supports three market places operated by NGM. The main stock list, NGM Equity, a market place for trading in unlisted shares, Nordic OTC and a market place for derivates trading, Nordic Derivatives Exchange, NDX - all markets are operated in one single platform.
"This further enhances the concept of Univits technology. The thorough review and audit performed by Finansinspektionen gives further assurances of Univits technology for existing customers and future potential customers. To our knowledge no other platform in the Nordic region has been subject to such a process", says Daniel Elfvendahl, Chief Executive Officer of Univits.
Univits delivers front- to back end solutions (Univits Tellus), with integrated STP interfaces, for marketplaces regardless of size and products - one platform for all markets - all markets in one platform. The platform is developed with a module-based technology, where general standardized functionality constitutes the core and the market-dependent functionality is implemented as modules. The development model of implementing add-on modules to the core allows for great flexibility and enables for customisation with proven short time to market and low cost. Modules can be added, removed or adjusted to complement the core therefore customising solutions on a market-by-market basis or even contract-by-contract basis.
"We have always had a very close relationship with Univits and I believe that this has been a critical success factor of NGM. The flexibility of Univits organization that is manifested in their technology has been a condition for the most recent developments of NGM - On the 2nd of December 2002 we launched Nordic OTC and on the 13th of March 2003 we launched NDX and today we received the Stock Exchange status", says Ulf Cederin, Chief Executive Officer of NGM.
Nordic Growth Market, NGM, is one of Sweden's two Stock Exchanges. NGM currently offers trading on the NGM Equity list, on which 49 companies are currently listed. NGM will also be offering official listing of shares in accordance with relevant EU directives, something that can only occur on a Stock Exchange. In the future, this will also apply to other financial instruments. Investors can buy and sell shares listed on the Stock Exchange through its 21 members. Trading in unlisted small and medium-sized growth companies is offered through Nordic OTC. NGM also offers derivatives trading through the Nordic Derivatives Exchange, NDX. The Stock Exchange is characterized by a high degree of service provided to companies, a high level of innovative yet proven and robust IT functionality and willingness to be open to international co-operation as well as a small, flexible and cost-efficient organization.
Univits International AB was founded 1998 and is an international company with offices in Stockholm and London. The company develops and sell solutions for electronic exchanges and marketplaces for equity, commodities, currencies and other financial instruments. The company aims to be at the technical forefront to be able to offer the international market flexible and cost saving electronic system that enable split second and secure contact between the markets players. Univits has among other things developed the system for the second Stock Exchange in Sweden, Nordic Growth Market. Björn Nordstrand is the Chairman and Daniel Elfvendahl is the CEO.
