STOCKHOLM, Sweden, Nov. 10, 2008 (GLOBE NEWSWIRE) -- The NASDAQ OMX Group, Inc. (Nasdaq:NDAQ) announced today that its business area Transaction Services Nordic will be reorganized to better serve clients and incorporate the acquired Nord Pool business. This change follows the launch of the new roadmap for the Nordic equity market, announced on October 16th. As a result of this move, all customer service roles within the cash equities and equities derivatives areas will be combined into a single unit.
Hans-Ole Jochumsen, Executive Vice President, NASDAQ OMX, commented, "We recognized that integrating our client service functions would allow us to better focus on the needs of our clients and at the same time increase our competitive advantage. Additionally, we have made some functional changes that will increase our operational efficiency as our organization continues to expand and grow."
As part of the reorganization, several management changes will be made.
Bjorn Sibbern will head up sales efforts for both the cash equities and equities derivatives in the Nordics and continue to serve as the President of NASDAQ OMX Copenhagen. Previously Mr. Sibbern was responsible for sales within the cash equities markets.
Henrik Husman has been appointed acting President of NASDAQ OMX Helsinki. Henrik Husman will also continue to serve as Vice President of Products within the equities markets.
Jouni Torasvirta, former President of NASDAQ OMX Helsinki, has chosen to seek new challenges outside the company. Jouni Torasvirta has for the last 20 years been a valuable contributor in the development of the Nordic securities market.
Magnus Billing will expand his current role to take on the position of acting head of the Surveillance operation within NASDAQ OMX Nordic. Currently Magnus Billing serves as Chief Counsel Europe for NASDAQ OMX.
Anders Ackebo will leave his position as head of Surveillance for NASDAQ OMX Nordic looking for new challenges outside the company after reaching an agreement with NASDAQ OMX. Anders Ackebo joined the company as Head of Surveillance in Stockholm in 2001. Anders Ackebo has contributed to creating trust and credibility for the markets by running the surveillance operation.
The Surveillance department, primarily responsible for monitoring trading and disclosures made by listed companies, will be moved out of the Transaction Services Nordic and into the Office of General Counsel. This will further enhance the independence of the Surveillance unit.
The operations within the Financial Training business unit will in the future be outsourced and operated by an external company. All courses and training currently offered by NASDAQ OMX Nordic will continue.
The acquisition of Nord Pool's international energy and carbon derivatives will be organized in the Commodities business unit within the Transaction Services Nordic business area.
A new business unit, European Derivatives, headed by Henrik Paulsson, will be introduced focusing on new initiatives within the derivatives and clearing areas.
ABOUT NASDAQ OMX GROUP
The NASDAQ OMX Group, Inc. is the world's largest exchange company. With over 3,900 listed companies, it delivers trading, exchange technology and public company services across six continents. NASDAQ OMX offers multiple capital raising solutions to companies around the globe, including its U.S. listings market; the OMX Nordic Exchange, including First North; and the 144A PORTAL Market. The company offers trading across multiple asset classes including equities, derivatives, debt, commodities, structured products and ETFs. NASDAQ OMX technology supports the operations of over 70 exchanges, clearing organizations and central securities depositories in more than 50 countries. OMX Nordic Exchange is not a legal entity but describes the common offering from Nasdaq OMX exchanges in Helsinki, Copenhagen, Stockholm, Iceland, Tallinn, Riga, and Vilnius. For more information about NASDAQ OMX, visit www.nasdaqomx.com.
Cautionary Note Regarding Forward-Looking Statements
The matters described herein contain forward-looking statements that are made under the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements include, but are not limited to, statements about NASDAQ OMX's internal reorganization, products and offerings. We caution that these statements are not guarantees of future performance. Actual results may differ materially from those expressed or implied in the forward-looking statements. Forward-looking statements involve a number of risks, uncertainties or other factors beyond NASDAQ OMX's control. These factors include, but are not limited to factors detailed in NASDAQ OMX's annual report on Form 10-K, and periodic reports filed with the U.S. Securities and Exchange Commission. We undertake no obligation to release any revisions to any forward-looking statements. There can be no assurance that the FSA will give the NASDAQ OMX applicant the authorization and permissions which it seeks.
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