Nordic countries consider merging stock exchanges into single market

The industrial alliance Nordic Compass is exploring the possibility of merging the national stock exchanges of Sweden, Denmark, Norway, and Finland into a single regional market. The initiative aims to harmonize regulatory frameworks and improve capital raising opportunities to bolster competitiveness across various stages, from startups and venture capital to initial public offerings (IPOs).

Christian Clausen, president of the Nordic Compass capital markets branch and chairman for the Nordic countries at BlackRock, stated that the work is currently in an exploratory phase. He noted that the group is analyzing various initiatives, including those related to liquidity, but no specific agreements or conclusions have been reached yet.

Nordic Compass was launched in May as a pan-Nordic alliance comprising over 25 organizations, including companies such as Ericsson, Nokia, Saab, Ørsted, and the Novo Nordisk Foundation. Led by former Finnish Prime Minister Jyrki Katainen, the alliance focuses on capital markets, deep tech, defense, and energy. A proposal regarding capital markets is expected to be presented during a summit in Gothenburg on November 4 and 5.