Oslo Børs works continuously to encourage greater trading and liquidity for the exchange's marketplaces. As part of this commitment, Oslo Børs announces further changes to the fees for trading in shares listed on Oslo Børs and Oslo Axess with effect from April 2010. This will be the third time that Oslo Børs has reduced trading fees for equities since September 2008. In addition, Oslo Børs is making some changes to its pricing model to offer bigger discounts and greater flexibility for its customers.
“These further fee reductions are a consequence of the continuing increase in competition for equities trading and our commitment to strengthening our competitive position. It is important for us to meet our customers' requirements, and to respond with changes that will increase their trading activity on our marketplaces. This also reflects our wish to maintain a competitive local exchange, because we believe this is the best way to facilitate future value creation by Norwegian trade and industry”, comments Bente A. Landsnes, President and CEO of Oslo Børs.
The changes to the pricing model that will come into effect from 1 April 2010 include the following:
- No fee for reporting of trades
- Changes to discounts:
- Larger discounts for trading in the five most widely-traded shares
- Reduction in discount for OBX shares (applies only to Fee Structure 4)
- Introduction of a discount for cross-trading
- Larger volume discounts (applies to all shares)
- Changes to fixed monthly fees
- Change to the timing for payment of fixed fees
- Market participants will be able to change their choice of fee structure more frequently
- Increase in auction fees for all shares
Based on trading activity for 2009 as a whole, these changes to the pricing model and trading fees would have caused a reduction in annual revenue for Oslo Børs VPS of approximately NOK 10 million in 2009.
