Forex glossary of terms
OMX Nordic-Baltic market
As the owner of the Stockholm Stock Exchange, OMX could initially trace its roots to 1863. With its recent acquisition of the Copenhagen Stock Exchange (CSE), OMX can now go further back in time. The Danish exchange was built in 1619 and is today the worlds oldest surviving exchange building.
Its spire is formed by the entwined tails of three dragons representing Denmark, Norway and Swedena fitting symbol for OMX, the global IT firm that operates six Nordic and Baltic markets.
OMX resulted from the 2003 merger of OMs Stockholm Stock Exchange and HEX, which owned the exchanges of Finland, Estonia and Latvia. The new company took the name of OMX and soon went public. OMX has since acquired the Lithuanian exchange and the CSE, with the Polish market now said to be a potential target.
The Swedish group is a partner in the NOREX alliance, formed in 1999 between the exchanges in Copenhagen and Stockholm as the first cross-border market supported by a single platform, OMs SAXESS, with uniform rules.
Today, there are eight members in the NOREX alliance: the six OMX exchanges plus Norways Oslo Bors and the Iceland Stock Exchange. All NOREX alliance exchanges trade on SAXESS.
OMs strategy has always been bold: the company made headlines in 2000 when it bid for the London Stock Exchange to counter Deutsche Borses offer. Neither won, but OM pursued its vision of a deep Nordic-Baltic pool of liquidity, whose capitalization rivals the one of the stock exchanges in Switzerland, Italy and Spain combined.
OMX also is the third largest European stock exchange for equity options trading and partnered with the LSE to create the EDX derivatives exchange.
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