NasdaqOMX eyes Baltic shift of staff – possibly

NasdaqOMX, the operator of the Stockholm Stock Exchange, has been reported in local media as eyeing up a move of staff to Vilnius, the capital of Lithuania, although the company has moved to dampen speculation about the numbers affected.

Swedish business daily Dagens Industri has suggested up to 100 positions could be shifted away from the Swedish capital.

NasdaqOMX was approached by InvestmentEurope for a comment, but is yet to receive a formal response, although it is understood that the company may be mulling certain positions in respect of its model of operating centres of excellence, to which it prefers to concentrate relevant skills.

As other stock market operators, NasdaqOMX is in many respects part of a bigger global technology company. This is one of the factors that has been driving market operator consolidation since the Millenium. Efficiencies derived from technology applications is one of the arguments put forward for the pending merger between Deutsche Boerse and the London Stock Exchange. That deal could yet face significant scrutiny from Brussels because of the size of the combined entity versus other market providers, and because of the fact London is set to move outside the EU single market.

Nasdaq Inc. noted in its own second quarter results that it completed its acquisitions of Boardvantage and ISE “the last of four recently announced deals to close, and has achieved approximately $10m in annualized run-rate cost synergies.”

CEO Bob Greifel said the company had “experienced broad-based demand for our distinctive technology, services and solutions, resulting in continued organic growth from each of our business segments.”

He also noted ” exceptional growth in Nordic listings.”





Jonathan Boyd
Editorial Director of Open Door Media Publishing Ltd, and Editor of InvestmentEurope. Jonathan has over two decades of media experience in Japan, Australia, Canada and the UK. Over the past 17 years he has been based in London writing about funds and investments. From editing the newsletter of the Swedish Chamber of Commerce in Japan in the 1990s he now focuses on Nordic markets for InvestmentEurope. Jonathan was awarded Editor of the Year at the Professional Publishers Association (PPA) Independent Publisher Awards 2017. Shortlisted for the same in 2016, he was also shortlisted in 2017 and 2015 for the broader PPA Awards category Editor of the Year (Business Media).

Read more from Jonathan Boyd

Close Window
View the Magazine

You need to fill all required fields!