Nordic trading volumes slide sharply on Nasdaq OMX, reports exchange owner

Nasdaq OMX has reported a sharp fall in trading volumes on its Nordic exchanges through November compared to the same period a year ago.

Figures for the Nordic and Baltic markets served by Nasdaq OMX Nordic point to a 23.3% fall in the daily average to just €1.7bn from €2.2bn in November 2011. The latest month was also down against the previous month, October, by 7.8%.

Derivatives trading fell 12.1% to a daily average of 462.151 contracts, compared with 525,817 contracts in November 2011.

For investors in exchange traded funds the figures make for sobering reading, particularly given the liquidity argument often put forward as a reason to own such funds.
The value of ETF trading dropped 57.3% to just €38m against €89m a year ago. The figures for ETFs encompass funds traded on Nasdaq OMX Stockholm and Nasdaq OMX Helsinki.

According to the latest discrete data on ETF provider firms – published in September 2012 – the top five ETF providers in Stockholm by turnover were:

Company SEK %
Svenska Handelsbanken AB  6,938,859,865  38.04%
Nordea Bank AB (publ) 2,354,008,544 12.91%
Merrill Lynch International 1,517,558,987 8.32%
Skandinaviska Enskilda Banken AB 1,444,116,174 7.92%
Avanza Bank AB 1,430,126,109 7.84%

 The top five providers in Helsinki by ETF turnover in September were:

Company EUR %
Svenska Handelsbanken AB 16,643,606 61.38%
Pohjola Pankki Oyj 4,751,464 17.52%
Nordea Bank Finland Plc 1,392,993 5.14%
Nordnet Bank AB 1,386,037 5.11%
Barclays Capital Securities Limited Plc 1,194,691 4.41%

Big cap stocks retain their position as the most traded investments on the exchange in November. Danish insulin maker Novo Nordisk was the most traded stock in the past month, followed by Finnish mobile phone and network equipment maker Nokia.


Oslo Børs, which still operates independently as the only regulated market for securities trading in Norway, meanwhile has announced moves that will see it take control of a significant global fish and seafood derivatives market, operated by Fish Pool ASA.

The exchange operator has struck a deal to acquire about 71% of shares in the company from Imarex, Bergen Energi and GC Rieber. The deal values Fish Pool at NOK27.25m.

Oslo Børs itself currently lists some 19 Norwegian and foreign companies in its seafood sectors.


Jonathan Boyd
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