OMX’s exchanges statistics 2005
- Average daily share turnover amounted to EUR 2,993 (2,500) million. - The turnover rate was 115 (114) percent. - The average daily derivative trading turnover amounted to 478,240 (449,024) contracts. - The number of listed companies amounted to 679 (end 2004:686). - The number of members amounted to 148 (end 2004:142).
Highlights 2005 • The number of trades per day for OMX’s exchanges reached an all time high, with 84,357 trades per day during 2005. (Second best year was 2000, with 79,000 trades per day). • The derivatives trading on OMX’s exchanges in 2005 amounted to 478,240 contracts per day, thus making 2005 to the best year ever. • The total share trading on OMX’s exchanges in October amounted to EUR 77.8 billion corresponding to an average daily turnover of EUR 3,703 million, thus making October the best individual month in terms of trading since April 2000 (EUR 3,874 million) 1) . • The derivatives trading on OMX’s exchanges in October amounted to 624,265 contracts per day, which is the second best month on record. The present record of 639,580 contracts per day was set in February 2004. Trading turnover and number of trades per day in share trading 1996-2005 [REMOVED GRAPHIC] 1) The figure from April 2000 has been recalculated to include Copenhagen, Helsinki, Riga, Tallinn and Vilnius which were not part of OMX at that time. The Nordic Exchange in sight Comments by Jukka Ruuska, Head of Nordic Marketplaces and President of Stockholm Stock Exchange. OMX can look back on a highly eventful year, during which its vision of the Nordic Exchange started to become a reality. In January, the Copenhagen Stock Exchange was incorporated in OMX and plans were launched during the fall for a common Nordic exchange list. The OMX List will result in harmonized listing requirements for the exchanges in Copenhagen, Stockholm and Helsinki, and a uniform method of presenting the listed companies. The common list will increase the visibility of Nordic equities and strengthen the competitiveness of the Nordic region. The objective is that investments across national Nordic borders will become a natural option and that Nordic investors will perceive the Nordic region as their domestic market. Trading turnover increased significantly in 2005, as did the market capitalization of the listed companies. Furthermore, trading activity in the derivatives segment rose and several records were broken on OMX’s exchanges. We also saw an inflow of new companies and members on our exchanges, which is very gratifying. In October, the name structure for the exchange indexes in Copenhagen, Stockholm, Helsinki, Tallinn, Riga and Vilnius was harmonized. Moreover, all OMX’s exchanges have now introduced a uniform international standard for the sector classification of listed securities. OMX has also launched First North, a concept for alternative marketplaces in the Nordic region. First North is aimed at small companies that are not yet ready for a traditional exchange listing. By offering an alternative marketplace, OMX makes it easier for small companies to raise venture capital, thereby further strengthening growth in the region. During the year, the Stockholm Stock Exchange introduced a corporate governance code for the companies listed on the exchange. The exchanges in Copenhagen, Helsinki and Vilnius have already introduced such codes and, in the beginning of 2006, codes of corporate governance will be introduced on the exchanges in Riga and Tallinn. Other important steps planned for 2006 include the introduction of a common exchange membership and the development of our Nordic information products and services. We will also implement the common Nordic exchange list, the OMX List, to further boost interest in the region. OMX puts the Nordic Exchange on the global stock exchange map! Highlights for 2005 Stockholm • December was the best month on record in stock futures trading and the average daily volume amounted to 51,327 contracts (September 2005, 18,039). • The share turnover for 2005 was EUR 1 603 million per day thus making 2005 the third best year ever. • The total no of transactions reached 46 470 per day thus making 2005 the second best year ever. • The turnover rate was 124 (134) percent. Helsinki • The covered warrant trading reached an all time high of EUR 122.2 million (November 2005: EUR 114.0 million) on the Helsinki Stock Exchange in December, corresponding to a daily average of EUR 6.1 million (November 2005: 5.2 million). Copenhagen: • Share trading in 2005 reached an all-time high with EUR 125.8 Billion (2004: EUR 79.7 Billion). December was the best month on record in terms of number of trades at 421,790 and 2005 was the best year ever measured by number of trades with 3,977,160 trades. Vilnius • The share turnover reached an all time high for 2005 of EUR 588 million and also the no of trades reached an all time high with 147,623 trades. Share trading The average share-trading turnover per business day amounted to EUR 2,993 (2,500) million, which is 20 percent higher than 2004. The average number of closed transactions per business day was 84,357 (68,093), which is 24 percent higher than 2004. The turnover rate was 115 (114) percent. 10 most traded companies [REMOVED GRAPHIC] Derivatives Trading Average derivative trading turnover (share and interest-rate related contracts) amounted to 478,240 (449,024) contracts per day, representing an increase of 7 percent. The average number of contracts in share-related derivative products amounted to 440,544 (423,198) contracts per day, while the average number of contracts in interest-rate related derivative products amounted to 37,696 (25,826) contracts per day. The total value of trading in stock options amounted to EUR 5.0 (5.7) million per day. Turnover per day derivative trading 1996–2005 [REMOVED GRAPHIC] Bond trading The value of average daily bond trading amounted to EUR 10,261 (EUR 9,385 million). Covered warrant trading The value of average daily warrant trading amounted to EUR 5.8 million (EUR 6.0 million). ETF trading / Investment fund trading The value of average daily ETF:s/Investment funds amounted to EUR 63 million (EUR 38 million). Index trends year 2005 The OMXS30 Index increased by 29 percent and closed at 960.0 (Dec 30, 2004: 741.9). The OMXH25 Index closed at 2 301.3 (Dec 30, 2004: 1,831.0), an increase by 26 percent. The OMXC20 index closed at 393.5 (Dec 30, 2004: 286.7), an increase by 37 percent. The OMXT index closed at 664.1 (Dec, 30, 2004: 448,8), an increase by 48 percent. The OMXR index closed at 676.4 (Dec. 30, 2004: 413.6), representing an increase of 64 percent. The OMXV index closed at 448.8 (Dec. 30, 2004: 293,4), representing an increase of 53 percent. Members During the period of 2005, Stockholm Stock Exchange has received nine members and three membership expired. Helsinki Stock Exchange has received six new members. Copenhagen Stock Exchange has received six new members and one membership has expired. Tallinn Stock Exchange has received four new members and one membership expired. Riga Stock Exchange has received three new members. Vilnius Stock Exchange has received eight memberships and three memberships expired. On December 30, 2005 the total number of members was 148 (excluded 96 members who are members at more than one exchange) (Dec. 30, 2004: 142/74) of which Stockholm Stock Exchange had 84 (Dec. 30, 2004: 78) members, Helsinki Stock Exchange had 50 (Dec. 30, 2004: 44) members, Copenhagen Stock Exchange had 51 (Dec. 30, 2004: 46) members, Tallinn Stock Exchange had 18 (Dec. 30, 2004: 15) members, Riga Stock Exchange had 17 (Dec. 30, 2004: 14) members and Vilnius Stock Exchange had 24 (Dec. 30, 2004: 19) members. New companies in 2005 on OMX’s exchanges [REMOVED GRAPHIC] List changes Shares Total market value of all listed companies amounted to EUR 743 billion on December 30 (Dec. 30, 2004: EUR 587 billion.) During 2005, nine companies were listed at Stockholm Stock Exchange and 14 companies were delisted. On Helsinki Stock Exchange five companies were listed and five were delisted. On Copenhagen Stock Exchange six companies were listed and 15 companies were delisted. On Riga Stock Exchange seven companies were listed and one company was delisted. On Tallinn Stock Exchange three companies were listed and one company was delisted. The total number of listed companies is 679 (Dec. 30, 2004: 686) (excluding 9 multiple listings) of which 272 (Dec. 30, 2004: 277) companies are listed on Stockholm Stock Exchange, 137 (Dec. 30, 2004: 137) on Helsinki Stock Exchange, 176 (Dec.30, 2004: 185) on Copenhagen Stock Exchange, 15 (Dec. 30, 2004: 13) on Tallinn Stock Exchange, 45 (Dec. 30, 2004: 39) on Riga Stock Exchange and 43 (Dec. 30, 2004: 43) on Vilnius Stock Exchange. Bonds The total number of listed bonds is 4,328 of which 1,621 (Dec. 30, 2004:1 485) on Stockholm Stock Exchange, 302 (Dec. 30, 2004:287) on Helsinki Stock Exchange, 2,325 (Dec. 30, 2004:2,232) on Copenhagen Stock Exchange, 9 (Dec. 30, 2004:5) on Tallinn Stock Exchange, 34 (Dec. 30, 2004:29) on Riga Stock Exchange and 37 (Dec. 30, 2004:33) on Vilnius Stock Exchange. Covered Warrants The total number of listed covered warrants is 1,463, of which 1,121 (Dec. 30, 2004: 1,491) on Stockholm Stock Exchange and 342 (Dec. 30, 2004: 329) on Helsinki Stock Exchange. Surveillance and Enforcement Stockholm Stock Exchange Nine of the 83 matters involving listed companies and exchange members that Stockholm Stock Exchange has initiated during the year were submitted to the Exchange's Disciplinary Committee for action. Of the nine cases addressed by the Disciplinary Committee, four companies were fined, four member firms received a warning and one individual stockbroker received a warning. In December three companies were fined by the Disciplinary Committee. Fastighets AB Balder/Enlight International was fined SEK 192,000 for having adjusted a forecast in the printed annual report without at the same time publishing it. They did not either inform about the change in the Q1 report. Note AB was fined SEK 384,000 for having given price sensitive information regarding a forecast on an analyst meeting. Fischer Partners Fondkommission AB was fined SEK 300,000 for having allowed some customers to place orders in the trading system that violated the Norex member rules. The Stockholm Stock Exchange issued criticism in 23 cases regarding listed companies and in 16 cases regarding members for infractions of the rules of the Exchange. These infractions were not of such a serious nature that they required to be handled by the Disciplinary Committee. During December, the Stockholm Stock Exchange has issued criticism towards members on three occasions. Two of the cases have concerned instances where the members have routed orders for execution, which have been generated by automatic trading engines and where the price limits deviated from current market values. The third case concerned a member's order placing in connection with a closing call, whereas the member's orders were placed with heavily deviating price limits due to an error in the member's internal systems. In all of these cases, the criticism has concerned shortcomings in the members' controls of electronic trading flows. During the year 15 companies listed on the Stockholm Stock Exchange were put on the observation segment. One company was placed there due to the company’s unstable financial situation. Two companies were placed there due to planned significant changes in the companies’ line of business. The remaining part of the companies where placed under observation since they did not fulfill the listing requirement regarding owner concentration as a consequence of public bids on the companies shares. In December, Maxim Pharmaceuticals, Inc. was placed on the Observation segment of the O-list since the company had applied for delisting of the shares of the company from the Stockholm Stock Exchange. During the year, the Stockholm Stock Exchange referred 42 matters of suspected insider trading or suspected market manipulation to the Financial Supervisory Authority or the Swedish National Economic Crimes Bureau. Two matters were sent in December. Helsinki Stock Exchange In 2005, the Helsinki Stock Exchange has issued criticism in 17 cases for the infractions of the rules of the Exchange. In addition, the secretary of the disciplinary committee of the Helsinki Stock Exchange’s issued a reprimand to seven listed companies. These infractions were not of such a serious nature that they required to be handled by the Disciplinary Committee. The Disciplinary Committee has issued a warning to one listed company and a warning and a disciplinary fine to another listed company for breaching the disclosure requirements applicable to listed companies. The warning and the fine were issued in December regarding an incomplete disclosure of a significant divestiture. Moreover, the Helsinki Stock Exchange referred 15 matters of suspected insider trading or other market abuse to the Financial Supervisory Authority during the year 2005. One of these cases was sent in December. During year 2005 the Helsinki Stock Exchange placed four companies to Observation Segment. One company was placed on the Observation Segment of the Main list and two companies on the Observation segment of the I-list due to the fact that the companies had applied for de-listing. One company was placed on the Observation Segment of the Main list in December due to the fact that there was a significant defect in the listing qualifications of the company and the issuer had repeatedly breached the Rules of the Exchange. Copenhagen Stock Exchange In 2005, the Copenhagen Stock Exchange reprimanded three companies for having published price sensitive information in an incorrect manner, most recently in December when a company disclosed information to a market maker about an error in the net asset value before publishing this information via a company announcement. The Copenhagen Stock Exchange criticized or commented on issuers’ behaviour in 11 cases regarding suspicion of breach of the disclosure requirements. None occasioned reprimands. In 2005, a member was reprimanded for having failed to report a transaction to the exchange. In 2005, the Copenhagen Stock Exchange dealt with eight voluntary bids and eight mandatory bids, most recently in December when Nordic Telephone Company ApS submitted a recommended voluntary bid to the shareholders in TDC A/S and Aktieselskabet Schouw & Co submitted a voluntary bid to the shareholders in BioMar Holding A/S. A total of 18 companies were transferred to the observation segment of which four took place in December: Mols-Linien A/S awaits the approval and publication of an agreement with A/S Storebæltforbindelsen; Asgaard Development A/S awaits a decision to de-merge the company and Akademisk Boldklub A/S awaits the submission of a bid; and finally Nørhaven A/S awaits the submission of a bid. In 2005, eight companies were transferred back from the observation segment, three of which in December: EAC since the shareholders have approved the divestment of EAC Nutrition Ltd. Spæncom A/S as the company’s financial irregularities have now been clarified, Københavns Lufthavne A/S as Macquarie Airports Copenhagen ApS has announced that the offer to the shareholders in Københavns Lufthavne A/S will be carried through and Mols-Linien A/S, as the Danish Ministry of Transport and Energy has approved the agreement between Mols-Linien A/S and A/S Storebæltsforbindelsen. In January 2005, the Copenhagen Stock Exchange implemented the IAS/IFRS and the Market Abuse Directive in the stock exchange rules and implemented the Prospectus Directive in June. Tallinn Stock Exchange In April 2005, the Listing and Surveillance Committee of the Tallinn Stock Exchange decided to impose a fine of EUR 15 978 to AS Hansapank for violation of Tallinn Stock Exchange Rules for delay in information disclosure concerning the negotiations on takeover bid. In November 2005, the Listing and Surveillance Committee of the Tallinn Stock Exchange issued warnings to two companies for having violated the rules that forbid trading during the restricted period. A member of the management board in AS Norma had bought shares in AS Norma in April 2005 in conflict with the rules. A legal person affiliated to the management and supervisory boards in AS Baltica had bought shares in AS Baltica in September 2005 also in conflict with the rules. In November 2005, the Listing and Surveillance Committee of the Tallinn Stock Exchange imposed a fine of EUR 320 AS Rakvere Lihakombinaat for having delayed information regarding the retirement of member of the management board by one day in August 2005. A more detailed report regarding the market surveillance of the OMX’s exchanges will be published shortly on www.omxgroup.com/stockholmsborsen, in "Our services for issuers/News for listed companies".