Newsletter October
Newsletter October
Equity markets typically anticipate changes in the state of the economy and in this context, the health of
the IPO market is particularly noteworthy. We have witnessed increased activity levels in the US where
there has been a number of IPO’s over the last couple of weeks. In Europe it is still too early to see a
change in the statistics.
We realize that the next couple of weeks will be very intensive and important for most of our customers
with the disclosure of your Q3 reports. Please don’t hesitate to contact your Key Account Manager if you
need any information or guidance.
Jenny Rosberg
Senior Vice President
NASDAQ OMX
http://newsmanager.commpartners.com/nasdaqsn/textonly/printallPF.php?id=nasdaqs... 2009-10-15
NASDAQ OMX Page 2 of 11
CCP was initially launched on nine Nordic shares and on October 19, the equities of all Swedish, Finnish
and Danish large cap companies as well as all Finnish mid cap companies will be included.
Danisco
H. Lundbeck
Novozymes
Stora Enso
Amer Sports
Pohjola Pankki
Alfa Laval
Securitas
SSAB
The Nordic Small Cap Index VINX and Sweden Small Cap Index, serve as indicators of overall trends for
the mid and small cap segments as well as being investable and cost efficient. The indexes mirror the
investable part of the Nordic and Swedish small and mid cap regions with transparent portfolio selection
rules. Companies included in the indexes receive increased investor visibility through index-based
products.
This association recently released new guiding principles and recommendations for compensation
practices. The recommendations were issued to restore credibility and increase trust in pay practices and
oversight. The full set of guiding principles and recommendations for compensation practices is outlined in
the recently released report.
Mr. Oxley started his visit in Stockholm on September 29 sharing his views over an informal afternoon tea.
On September 30, Mr. Oxley was one of the speakers at a seminar in Helsinki targeting representatives of
listed companies. He provided an insight to board practices and corporate governance in a time of
economic turmoil.
On October 1, Mr. Oxley was key-note speaker together with Erik Bruun Hansen, Issuer Surveillance,
Copenhagen, at a VIP-seminar in Copenhagen with senior executives from some of the largest Danish
companies.
http://newsmanager.commpartners.com/nasdaqsn/textonly/printallPF.php?id=nasdaqs... 2009-10-15
NASDAQ OMX Page 3 of 11
annual reports include advanced tracking capabilities that make it possible to obtain detailed information
about which elements investors are viewing the most.
GlobeNewswire – GlobeNewswire now offers a translation service for press releases to its customer.
Press releases can be translated into many different languages, quickly and accurately. Contact your Key
Account Manager for more information.
COUNTRY-SPECIFIC
Stockholm
Successful Small and Mid Cap seminar
NASDAQ OMX aims to be a valued business partner for our listed companies. Within that concept lies the
goal to continuously and actively promote our listed
companies to investors. To facilitate communication between
companies and analysts, NASDAQ OMX and SFF, the Swedish
Financial Analyst Association, organize Small & Mid Cap
Seminars twice a year.
The seminar was webcasted to further increase reach and visibility. The live and on-demand webcast was
accessed by almost 1,000 viewers during the first 48 hours. Follow this link to view the webcast.
The next Small & Mid Cap Seminar will be organized in March, 2010. If you would like your company to
participate, please contact your Key Account Manager.
Environmental, social and governance valuation - SFF offers new training for Swedish
companies
The Swedish Society of Financial Analysts, SFF, now offers a new training course for financial analysts and
IR executives. The seminar is arranged jointly with the European Federation of Financial Analysts, EFFA.
The training will cover how to integrate environmental, social and governance factors into corporate
financial valuation. During a one-day seminar participants will meet experts covering both academic
perspectives and best practices.
For more information, please visit SFFs website or send an email to SFF.
New annual report from the Swedish Corporate Governance Board shows that the revised code applicable
for all companies also works well for small companies. However, certain adjustments may be required due
to both the new EU regulations regarding executive compensation and to Swedish legislation. A draft of the
new code will be published at the end of September for comments. The new revised rules will be available
at the end of November and enter into force on January 1, 2010.
http://newsmanager.commpartners.com/nasdaqsn/textonly/printallPF.php?id=nasdaqs... 2009-10-15
NASDAQ OMX Page 4 of 11
The NASDAQ OMX trading system provides each share with its own order book where current bid and ask
prices are visible to traders. A small spread, the difference between buy and sell price, increases the
probability that traders will move the price up or down to make a trade. According to the trading rules,
traders are allowed to move the price in certain pre-defined steps or tick sizes — the smallest price
increment in a security.
As a part of a Pan-European initiative to harmonize tick sizes, NASDAQ OMX will introduce a standardized
tick size table for shares in OMXS30 on October 26, 2009, based on member feedback and aligned with
the FESE (Federation of European Securities Exchanges) Tick Size Table 2. In addition, we are introducing
four decimals on orders in our trading system. Please see tick size table below.
As an example, the tick size (smallest price increment) is a hundredth of an öre for shares in the price
level up to SEK 5.
Ticksize table:
As of July 1, 2007, companies admitted to trading on a regulated market have to file certain information
with Finansinspektionen. Normally, companies who use a news distributor have commissioned the news
distributor to fulfill the companies’ obligations regarding this. All news sent out as a regulatory press
release through the news distributor will typically be filed with Finansinspektionen automatically. However,
there are some issues that companies have to pay extra attention to.
Each company shall publish if the number of shares or votes in the company changes, for instance due to a
new issue. Companies usually send out press releases about this in conjunction to the new share issue, but
in addition to that, the change shall be published on the last trading day of the month it occurred. The
information shall be submitted to Finansinspektionen simultaneously.
Annual financial reports and interim reports shall also be submitted electronically to Finansinspektionen.
Interim reports are normally sent in press releases and automatically filed with Finansinspektionen, but
annual reports are usually not sent in press releases. They might therefore, be filed with
Finansinspektionen separately.
One way to do this is to send the information to the companies’ news distributors and ask them to file this
information with Finansinspektionen.
Finansinspektionen will continuously make sure that this information is submitted in order to secure
complete and correct information in the public database. If information is missing, Finansinspektionen will
require a correction from the company even if the company has commissioned a news distributor to fulfill
its obligations. To check which information Finansinspektionen has about a certain company, please visit:
https://fiappl.fi.se/FinansCentralen/search.aspx
If you have further questions, please contact Finansinspektionen, Listed companies and prospectuses
[email protected]
http://newsmanager.commpartners.com/nasdaqsn/textonly/printallPF.php?id=nasdaqs... 2009-10-15
NASDAQ OMX Page 5 of 11
The Swedish Investor Relation Association, SIRA, recently launched an IR-blog. The purpose is to share
ideas, trends, problems and thoughts related to the fast developing IR area. Follow this link to follow the
blog, engage in discussions and subscribe to news from the blog. With your input the blog can be a useful
tool for IR professionals.
Copenhagen
Novo Nordisk - Overall winner of Best Annual Report Award 2009
On October 1, 2009, NASDAQ OMX hosted the Annual Report Award 2009 in cooperation with Børsen. The
event was held in the old exchange building with NASDAQ OMX top executives Mike Oxley, Hans-Ole
Jochumsen and Børsen's Cheif Editor Leif Beck Fallesen as key note speakers. The event attracted more
than 250 people including representatives from both listed and non-listed companies.
All companies listed at NASDAQ OMX exchanges are welcome to host the Opening or Closing Bell at
NASDAQ MarketSite at New York City's Times Square. The Market Open is televised globally each morning,
simulcast on the NASDAQ MarketSite Tower and webcast on nasdaq.com. The NASDAQ MarketSite
provides spectacular panoramic views and the ultimate high-visibility for any event.
On October 1, 2009, the Danish company Coloplast closed the NASDAQ Stock
Market. For more pictures and video follow this link.
To book a ceremony for your company, please contact your Key Account Manager
or send us an email.
On September 29, 2009, NASDAQ OMX hosted an annual investor event in Aarhus. Thirteen Danish main
market and First North-companies presented their businesses and future outlooks to investors at the
Radisson Hotel. 650 private investors took the opportunity to learn more about the companies through
their presentations and by visiting the companies' booths for talks with CEOs, CFOs and IROs.
NASDAQ OMX aims to show relevant and unique information on our websites. Through a co-operation with
Aktieinfo, we can now offer new stock market reports for Danish companies – an increased service for
private investors and listed companies.
Aktieinfo has agreed to deliver two weekly stock market reports published on nasdaqomxnordic.com.
http://newsmanager.commpartners.com/nasdaqsn/textonly/printallPF.php?id=nasdaqs... 2009-10-15
NASDAQ OMX Page 6 of 11
Follow this link to go to the stockmarket reports. The first 250 words are shown on the NASDAQ OMX
webpage and the full report can be read on Aktieinfo's website. The reports are only produced in Danish.
Helsinki
Aktia Plc listed on NASDAQ OMX Helsinki
Aktia Plc (Aktia), a Mid Cap company within the Regional Banking industry, started trading on the Main
Market of NASDAQ OMX Helsinki on September 29. Aktia is one of the largest Finnish-owned finance
groups and provides a broad range of products within banking, asset management, insurance and real
estate agencies. We are happy to welcome Aktia to NASDAQ OMX Helsinki.
Due to the launch of central counterparty clearing (CCP) in the Nordics by NASDAQ OMX on October 9,
2009, the Insider Guidelines have been updated. NASDAQ OMX defines those listed companies whose
shares’ trades are cleared in the central counterparty clearing. The central counterparty reports only the
net of the traded shares at the end of the day and thus intra-day trades will no longer be reported directly
to NetSire system maintained by Euroclear Finland Ltd. When trades regarding a share incorporated in the
bookentry system are cleared in the central counterparty clearing and an insider buys and sells the share
in question intra-day, the insider must report the trades in accordance with the guidelines of the Finnish
Financial Supervisory Authority standard 5.3 (Declarations of insider holdings and insider registers).
The changes to the Insider Guidelines correspond to the changes made in the Financial Supervisory
Authority standard 5.3. Follow this link to find new updated insider guidelines.
On September 30, 2009, representatives of listed companies gathered in the Stock exchange building to
hear and discuss current topics. Vice Chairman of NASDAQ OMX, Mike Oxley, provided an insight to board
practices and corporate governance in a time of economic turmoil. Additionally:
Annika von Haartman, Head of Surveillance Nordics, portrayed challenges of market surveillance in
multinational markets
Lauri Rosendahl, President of NASDAQ OMX Helsinki, defined listed companies status after MiFID.
Janne Seppänen, Head of Surveillance Helsinki, introduced listeners to practical findings on Finnish
companies complying with the reviewed Corporate Governance code.
We want to thank all participants for their attendance, and hope to see you again at our next event.
UPCOMING EVENTS
New York
The High-Performance Director: Navigating 2010
Welcome to a new Executive Conference for Experienced Directors. This one-day seminar is designed to
help experienced Directors stay on top of the most challenging issues facing corporate Board members in
2010.
When: Friday, December 11, 2009, 7:30 a.m. - 5:30 p.m. U.S. EST
Where: The Metropolitan Club, New York, NY
RSVP: Please visit website for the full program and to register.
NASDAQ OMX was the first exchange to focus on the needs of Boards, Directors and Corporate
Secretaries. We launched Board Recruting, the first online Director recruiting system, and acquired
Directors Desk, a premier Board portal, offering unsurpassed communications and workflow management
solutions for Boards.
This advanced education conference represents the addition of Director Education, a critical component of
sound corporate governance, to our extensive Board Practice portfolio. At NASDAQ OMX, we remain
committed to helping Board members understand their governance responsibilities through unique
http://newsmanager.commpartners.com/nasdaqsn/textonly/printallPF.php?id=nasdaqs... 2009-10-15
NASDAQ OMX Page 7 of 11
opportunities that address the topical issues of the day. The high-level agenda was developed in
collaboration with leading regulators, government officials, corporate executives and top scholars who will
host panel discussions, compelling debates and keynote interviews on:
We are excited to offer this new opportunity for Boards and encourage you to discuss this opportunity with
your Directors today. For more information please visit our website.
Stockholm
Seminar on Exchange rules
A strong commitment to good corporate governance is essential to building and maintaining the credibility
of your company. NASDAQ OMX offers seminars on exchange rules and regulations for boards and
management teams helping listed companies to navigate the complex requirements of being a public
company.
Welcome to join a seminar announcing the winners of NASDAQ OMX Best Annual Report and Regi Best IR
function. During this enjoyable afternoon speakers will present different aspects of investor relations and
you can mingle with fellow colleagues. For the full program please follow this link (pdf)
http://newsmanager.commpartners.com/nasdaqsn/textonly/printallPF.php?id=nasdaqs... 2009-10-15
NASDAQ OMX Page 8 of 11
Copenhagen
How to take full advantage of being traded on First North
All management teams at First North-companies are warmly welcome to a First North-seminar together
with their Certified Advisers.
How NASDAQ OMX can assist the Certified Adviser and the First North-company
How companies can optimize the communications to the market and thus increase visibility
Guest speaker is Tim Eriksen, PROSPECT, with many years experience in advising main market- and First
North-companies.
A strong commitment to good corporate governance is essential to building and maintaining the credibility
of your company. NASDAQ OMX offers seminars on exchange rules and regulations for boards and
management teams helping listed companies to navigate the complex requirements of being a public
company.
Welcome to a breakfast seminar with focus on IR. During the seminar the winners of Regi's Best IR-
function among Danish listed companies will be announced.
Helsinki
Fragmentation in European trading
The landscape for share trading has changed following the EU directive, MiFID, introduced on November 1,
2007. Today, listed companies shares may be traded on several trading venues in Europe. Frank
Hatheway, Senior Vice President and Chief Economist of NASDAQ OMX, will host a seminar on this topic.
The target groups for this seminar are Finnish-listed companies, advisers, investors and other
stakeholders.
http://newsmanager.commpartners.com/nasdaqsn/textonly/printallPF.php?id=nasdaqs... 2009-10-15
NASDAQ OMX Page 9 of 11
Welcome to a breakfast seminar arranged together with Regi. The seminar will focus on IR and will also
announce the winners of Regi's Best IR-function among Finnish-
listed companies.
NASDAQ OMX Web Seminar Series highlights current topics of interest to listed companies. Here we
present the latest web seminars. The seminars can be viewed on demand and accessed at any time.
The SEC's Proposed Proxy Access Rules, Recent Changes to the "Broker Vote" Rule and Pending
Legislation Affecting Compensation Committees.
Listen to the web seminar here
CONTACT US
Your Trusted Advisor in Public Company Practice
NASDAQ OMX is committed to maximize the value of a listing. Please do not hesitate to contact us at our
offices around the world.
Contact one of our relationship managers directly or our surveillance desks in the Nordics:
Stockholm
Håkan Sjögren
[email protected]
+46 8 405 78 93
Cristina Espelund
[email protected]
http://newsmanager.commpartners.com/nasdaqsn/textonly/printallPF.php?id=nasdaqs... 2009-10-15
NASDAQ OMX Page 10 of 11
+46 8 405 71 36
Copenhagen
Carsten Borring
[email protected]
+45 33 77 04 55
Peter Legind-Hansen
[email protected]
+45 33 77 03 85
Toke Reedtz
[email protected]
+45 33 77 03 85
Kenneth Jørgensen
[email protected]
+45 33 77 03 28
Helsinki
Minna Rautiainen
[email protected]
+358 9 6166 671
Erja Jumppanen
[email protected]
+358 9 6166 7322
Iceland
Kristin Rafnar
[email protected]
+354 525 2869
London
Isabella Schidrich
[email protected]
+44 207 065 8122
Surveillance desks
Stockholm
[email protected]
+46 8 405 70 50
Copenhagen
[email protected]
+45 33 93 33 66
Helsinki
[email protected]
+358 9 61 66 71 (switchboard)
Iceland
[email protected]
+354 525 2800 (switchboard)
The NASDAQ OMX Group, Inc. is the world's largest exchange company. It delivers trading, exchange technology and public company
services across six continents, with over 3,700 listed companies. NASDAQ OMX Group offers multiple capital raising solutions to
http://newsmanager.commpartners.com/nasdaqsn/textonly/printallPF.php?id=nasdaqs... 2009-10-15
NASDAQ OMX Page 11 of 11
companies around the globe, including its U.S. listings market; NASDAQ OMX Nordic, NASDAQ OMX Baltic, including NASDAQ OMX First
North; and the U.S. 144A sector. The company offers trading across multiple asset classes including equities, derivatives, debt,
commodities, structured products and ETFs. NASDAQ OMX Group technology supports the operations of over 70 exchanges, clearing
organizations and central securities depositories in more than 50 countries. NASDAQ OMX Nordic and NASDAQ OMX Baltic are not legal
entities but describe the common offering from NASDAQ OMX Group exchanges in Helsinki, Copenhagen, Stockholm, Iceland, Tallinn,
Riga, and Vilnius. For more information about NASDAQ OMX, www.nasdaqomx.com.
© Copyright 2009 The NASDAQ OMX Group, Inc. All Rights Reserved
http://newsmanager.commpartners.com/nasdaqsn/textonly/printallPF.php?id=nasdaqs... 2009-10-15