NASDAQ OMX Stockholm Timeline

1860s | 1900s | 1910s | 1920s | 1930s | 1970s | 1980s | 1990s | 2000s | 2010s



The Stortorget square in Gamla Stan, Stockholm’s old town, had long served as a marketplace for trading goods and services. In the 1760s it was decided that a stock exchange should be built in Stockholm. The town hall would be demolished and the Stock Exchange built on the northern side of Stortorget. To finance construction, a duty was levied on all luxury goods imported into Sweden. The Stock Exchange building was finally completed in 1778. The attractive building was designed by the architect Erik Palmstedt.

In time, a system of Stock Exchange members was developed. These members served as intermediaries between the investor and the Stock Exchange, and they guaranteed that trading was conducted in a proper manner.

In the 18th and early 19th century, most trading on the Stock Exchange involved goods, promissory notes, drafts and marine insurance policies. But with the advent of industrialisation the nature of trading changed, albeit slowly. During the years 1853–1860 the city brokers at the Stock Exchange recorded only six transactions in shares and four in bonds. Other trading in shares took place at the Stockholm Auction House; bonds were traded over the counter at major banks.


Sweden did not have a proper stock exchange until 1863. On 18 January, a royal decree was read out from the pulpit in Stockholm Cathedral on the sale of bonds, portion certificates and shares at the Stockholm Stock Exchange. The first Stock Exchange auction was held at 14:00 on Wednesday 4 February. Twenty-two transactions were concluded, with a turnover of 14,105 old Swedish crowns. Stock Exchange auctions were thereafter held on the first Wednesday of every month. Carl Gustaf Hierzéel became the market’s most dominant stockbroker. In the first five years he accounted for more than 92 percent of turnover.


The Stock Exchange received new instructions when the Swedish Board of Trade and Shipping was given the right to authorise brokers. Stock Exchange commissioners were appointed for administration and supervision. Two share lists were created, A and B, and annual turnover totalled SEK 4 million.


Commercial banks were allowed to become members, and the number of members rose from 5 to 20. Trading was only conducted for one hour per day, but much of the trading in securities was still handled outside the Stock Exchange.


An hour of additional trading—after the close of normal trading hours—was introduced. An official share price list was displayed in the Stock Exchange hall; after 1913, this list was also published in local newspapers.


The Stock Exchange building was renovated. Operations took up the entire ground floor, with desks and space for 82 brokers in the trading hall. There were 44 member companies. Turnover reached no less than SEK 1,586 million, a record that stood until 1972.

A new electronic marking system debuted in September. The Stockholm Stock Exchange was now the most modern in Europe; it was also known as “the world’s quietest stock exchange.”


Wall Street’s “Black Thursday” occurred on 24 October. The New York Stock Exchange fell by four billion dollars in one day.


The Stock Exchange closed for three weeks as Britain abandoned the gold standard and there were fears of currency problems.


During the 1920s Ivar Kreuger and his “Svenska Tändsticksbolaget” (“Swedish Match Company”) were a very important part of the Swedish economy. Kreuger built his success on offering hard-pressed post-war economies in Europe vast credit facilities in return for a monopoly on matches in their country. These loans were financed by regular new issues of shares in the company. When repercussions from the New York Stock Exchange crash reached Sweden, Ivar Kreuger’s Tändsticksbolaget was hit hard. The shares were sold at rock bottom prices, and bankruptcy became a reality.

The Stock Exchange was closed for nine days following Ivar Kreuger’s suicide in Paris. Svenska Tändsticks AB was de-listed from the Stock Exchange, and would not be re-listed until 1938.


Simplified share processing was introduced. Company share registers housed in the Swedish Securities Register Centre were imported into computerised registers.


The computerisation of the Stock Exchange continued, and electronics started to replace the blackboards in the “after hours” trading session. Data communication services were developed for Stock Exchange members and other parties. Share turnover totalled SEK 2 billion.


A revised law gave the Stock Exchange a legal monopoly on trading in securities.


Olof Stenhammar started OM. On 12 June, OM offered options to purchase in six shares. The favourable Stock Exchange climate in the mid-1980s helped OM to thrive and grow rapidly. The following year the OMX Index was introduced, and OM developed an effective clearing business. Clearing meant that OM acted as an intermediary between buyer and seller, thus assuming the counterparty risk. This innovative concept largely formed the basis of OM’s success.


Share turnover at the Stock Exchange reached SEK 144 billion.


Prices at the Stockholm Stock Exchange rose by 50 percent October. On 19 October, “Black Monday” hit Wall Street and prices fell by 23 per cent. Over the ensuing five weeks, prices at the Stockholm Stock Exchange fell by nearly 40 percent. Share turnover was SEK 128 billion.

The Stock Exchange’s market information system, SIX (Stockholm Information Exchange), is launched.

OM is listed on the Stockholm Stock Exchange.


On 2 June, the Stock Exchange’s electronic trading system SAX (Stockholm Automated eXchange) begins trading in shares of six companies. SAX was an order-based system that automatically merged purchase and sales orders. Stock Exchange members no longer needed to have representatives in the actual Exchange building, and brokers could be connected to SAX from anywhere in the world.


The last day of trading on the floor was 31 May. The very last share to be traded on the floor was Försäkrings AB Skandia – the only share remaining that had been listed on the Stockholm Stock Exchange since the very first auction in 1863. By mid-1990, all shares had been transferred to the SAX system.


In November the Stockholm Bond Exchange (SOX) started to trade in bonds for small investors.


A new share turnover record, SEK 172 billion, was established.


A new era in the history of the Stock Exchange begins. The Riksdag approved a proposal and adopted a new law, which effectively ended the Stock Exchange monopoly and converted it into a limited liability company. Stockholms Fondbörs AB was launched, which was owned in equal shares by the Stock Exchange’s members and share issuers. The Stockholm Stock Exchange became the world’s first stock exchange to be run for profit.


The Stockholm Stock Exchange became the first stock exchange in Europe to allow remote members. Six new members were admitted, three of them foreign companies that traded in SAX from terminals located abroad. 40 new companies were introduced, and turnover on the Stockholm Bond Exchange (SOX) totalled SEK 29 billion. The SIX information service was sold to Bonnier Information Services AB. Share trading totalled SEK 659 billion.


The Treasury in London approves the Stockholm Stock Exchange as a “Recognized Overseas Investment Exchange”. In September the Stockholm Stock Exchange was launched online. Share trading generated turnover of SEK 665 billion, and there were 223 companies listed on the Stockholm Stock Exchange.


Share trading generated SEK 918 billion, an increase of 38 percent over 1995. The trading hours were extended by one hour until 17:00 to provide greater accessibility, especially for American investors. Automatic order mediation – the facility for Stock Exchange members to receive customer orders, which are automatically checked and forwarded to SAX – began in September.


OM and the Stockholm Stock Exchange merged with a view to enhancing Stockholm, and thereby the Nordic region, as a financial centre. The Stockholm Stock Exchange and the Copenhagen Stock Exchange signed a declaration of intent for a common Nordic securities market: NOREX. In June the Stockholm Stock Exchange was the first stock exchange in the world to achieve certification in accordance with the international quality standard ISO 9001. Share trading during the year increased by 47 per cent to SEK 1,346 billion.


In January, the merger between the Stockholm Stock Exchange and OM Gruppen was completed. In order that OM Gruppen could continue to be listed on what was now its self-owned Stock Exchange, the Swedish Financial Supervisory Authority took over direct responsibility for supervising trade in the OM shares. The name of the newly formed company was “OM Stockholmsbörsen” and this company became part of the “OM Gruppen” group of companies. Nya Marknaden (New Market) was formed to contribute to securing the regeneration of listed companies and to improve the conditions for supplying venture capital to small enterprises. Share trading increased by 36 percent to SEK 1,830 billion.


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.


OMX acquires the Copenhagen Stock Exchange.


OMX acquires the Iceland Stock Exchange.

First North is formed as a pan-Nordic extension of Nya Marknaden.


OMX acquires the Norwegian electricity derivatives exchange Nord Pool ASA. During the year the average daily turnover was more than SEK 26 billion. The volume of transactions per day is 100,000.

The EU’s MiFID Directive (Markets in Financial Instruments Directive) comes into force, bringing European deregulation of trading on stock exchanges.


NASDAQ acquires OMX for SEK 32 billion and forms the NASDAQ OMX Group.

As a result of the financial crisis, OMXSPI falls by 42 percent, the biggest annual fall in one hundred years.

Daily turnover totalled SEK 18.6 billion and 114,000 transactions.


NASDAQ OMX Nordic and Baltic Stock Exchanges introduce central counterparty clearing (CCP) as a consequence of the financial crisis, and thus own the counterparty in all share transactions. The introduction of CCP serves to promote stability in the financial system.

NASDAQ OMX starts to offer trading in companies listed on the Oslo Stock Exchange. OMXSPI increases by 48 percent.


NASDAQ OMX Nordic and Baltic Stock Exchanges replaced the SAXESS trading system with INET, which is used on the NASDAQ Stock Market in the USA.


NASDAQ OMX Nordic Stock Exchanges consolidate trading in interest rate products, derivatives and commodities into one single technical platform: Genium INET.

Daily turnover totals SEK 11.5 billion and 201,000 transactions. NASDAQ OMX Stockholm’s market share of trading in its own listed companies reaches 66 percent.