STOCKHOLM, Sweden, March 20, 2023 (GLOBE NEWSWIRE) -- Nasdaq Stockholm celebrates its 160th Anniversary this year, marking the milestone with the launch of a series of internal and external events over the coming months in recognition of the deep history and heritage of the exchange, including a bell ceremony during the Almedalen Week. Founded in 1863, Nasdaq Stockholm has supported job creation and growth across the Swedish and European economy. As an important part of the Swedish investment community, retail capital flows representing more than a third of First North and 15 percent of our main market.
The exchange has successfully evolved from a domestic market supporting local businesses to a global exchange operator and technology provider. Today, Nasdaq Stockholm is Europe's leading SME listing venue, welcoming more companies than any other venue in 2022. The exchange also leads effort in the global development of sustainability initiatives.
"For 160 years, our market has facilitated efficient capital formation and advanced economic growth across our country," said Fredrik Ekström, President of Nasdaq Stockholm. "In addition to serving generations of investors, Nasdaq Stockholm has been at the forefront of embracing new technologies and home to some of the most innovative companies. The exchange will continue to play a critical role leading global capital markets, with our expertise in sustainability and green transformation helping to build a more inclusive economy."
In Europe, Nasdaq operates exchanges in eight countries, one clearing house and one central securities depository (CSD) serving four markets. Our European Trading Services business offers multi-asset trading, market services, and provides a full suite of capital raising solutions supporting over 1,250 listed companies. In addition, Nasdaq First North, our market for SME growth companies, has served as an important platform enabling Nordic and international entrepreneurs to access growth capital to develop and expand their businesses.
"Nasdaq Stockholm has been a fundamental engine of innovation, economic growth and prosperity for 160 years," Bjørn Sibbern, President of European Markets and Executive Vice President, Nasdaq, said: "While its role as a market operator has evolved, what has not changed is the enduring commitment to serving the interest of all investors, companies and future entrepreneurs. As we celebrate this milestone, Nasdaq upholds its promise to drive the development of more competitive, transparent and efficient capital markets."
Key historical milestones of Stockholm Stock Exchange:
- In 1918, the Stockholm Stock Exchange became the world's quietest stock exchange when a new electromechanical quotation system was implemented.
- In 1974, the computerisation of the Stock Exchange started, and electronics began to replace the blackboards in the after-hours trading session. Data communication services were developed for Stock Exchange members and other parties.
- In 1985, Olof Stenhammar started OM to offer options trading. OM would later merge with Stockholm Stock Exchange in 1998.
- In 1986, OMX Index was introduced, and OM developed an effective clearing business.
- In 1989, the business of OM moved into trading technology platforms.
- In 1989, Stockholm Stock Exchange's electronic trading system SAX, Stockholm Automated eXchange, started with trading in shares of six companies. SAX was an order-based system that automatically merged buy and sell orders. The Exchange members no longer needed to have representatives in the actual Stock Exchange building, and brokers could now be connected to SAX from anywhere in the world.
- May 31, 1990, was the last day of trading on the trading floor.
- In 1993, The Stockholm Stock Exchange became the world's first stock exchange to be run for profit when it was converted into a limited liability company owned in equal shares by the Exchange members and Issuers.
- In 1994, The Stockholm Stock Exchange was the first stock exchange in Europe to allow remote members.
- In 1998, the merger between the Stockholm Stock Exchange and OM Gruppen was completed. The name of the newly formed company was OM Stockholmsbörsen.
- In 2004, OM acquired the Helsinki Stock Exchange (HEX) and changed the company name to OMX AB. This acquisition included the Baltic stock exchanges in Tallinn, Riga and Vilnius.
- In 2005, OMX acquired the Copenhagen Stock Exchange.
- In 2006, OMX acquired the Iceland Stock Exchange. Nordic First North Market was formed as further development of Nya Marknaden established in 1998.
- In 2008, Nasdaq and the Nordic stock exchange OMX AB announced the completion of merger.
- In 2015 Nasdaq Stockholm launched the world's first Sustainable Bond Markets.
- In 2021 Nasdaq acquired majority ownership in the carbon removal platform Puro.earth.
Nasdaq (Nasdaq: NDAQ) is a global technology company serving the capital markets and other industries. Our diverse offering of data, analytics, software and services enables clients to optimize and execute their business vision with confidence. To learn more about the company, technology solutions and career opportunities, visit us on LinkedIn, on Twitter @Nasdaq, or at www.nasdaq.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's Purpose Initiative and other initiatives. 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's control. These factors include, but are not limited to, Nasdaq's ability to implement its strategic initiatives, economic, political and market conditions and fluctuations, government and industry regulation, and other factors detailed in Nasdaq'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
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