Oslo Børs head supports proposal for unified Nordic stock market

The industrial alliance Nordic Compass is exploring the creation of a unified Nordic stock market to strengthen capital market competitiveness and build resilience in sectors such as defense. The initiative involves several major partners, including Aker, EQT, Ericsson, Kongsberg, Novo Nordisk Foundation, Saab, Wallenberg Investments, and Nordea.

Øivind Amundsen, head of Oslo Børs, expressed support for the initiative, stating he is positive about exploring opportunities for a more ‘seamless Nordic market.’ He noted that while the exchange is a key element, discussions regarding defense and energy in the Nordic region are equally significant.

Establishing a common exchange faces challenges due to existing market structures. Nasdaq controls most Nordic exchanges, while Euronext owns Oslo Børs. Additionally, entities like Euroclear manage much of the trade settlement. A successful agreement would require cooperation between these major players and the participation of Euronext leadership.