OMX benefits from merger synergy

28 Oct 2005

Swedish exchange and technology provider OMX has announced operating profit of SEK647m ($82.21m) for the first three quarters of the year, including SEK232m for the last three months.

The exchange attributed increased revenues to higher trading activity and to the consolidation with Copenhagen Stock Exchange in January...

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"While we support its overall direction, a number of the requirements in the review are needlessly oppressive, particularly the proposed limits on execution-only business and bilateral execution. Additionally, the swathe of costly disclosure obligations is more likely to confuse than inform customers.”

The FOA's Anthony Belchambers responds to the EC's Mifid review.