Merkur Market

Merkur Market offers companies and their owners one of the fastest admission processes in Europe. The time between Oslo Børs receiving an application and the company being admitted to trading can be around one to two weeks. Since Merkur Market is an MTF, both the admission requirements and the continuing reporting obligations following admission are simpler and less comprehensive than for companies listed on Oslo Børs and Oslo Axess.

Advantages of admission to Merkur Market

  • Orderly and transparent trading in the company’s shares/equity certificates in an efficient electronic order system to which all member firms are connected through their membership agreements
  • A company’s Merkur Advisor will normally be able to offer market making and analyst coverage services
  • Continuous market surveillance by Oslo Børs
  • An effective announcement portal, Newsweb, on which to publish news and statutory reports
  • Market-based valuation of the company – this can make it easier for company founders to sell down their holdings, can provide companies with access to new investors in connection with share and debt issues, can have a positive effect on banks’ assessments of companies’ creditworthiness when applying for bank loans, and can help make a company’s shares an effective form of settlement in connection with M&A and other corporate transactions.
  • A quality stamp – this can be valuable when seeking to attract new customers, skilled employees and well-qualified board members
  • For investments in companies traded on Merkur Market, the calculation of wealth tax for investors is based on the company’s book value, not on its market capitalisation. For securities traded on Oslo Børs and Oslo Axess, the company’s market capitalisation is used.
  • Tailored introduction courses in the continuing obligations that apply to a company once it is admitted to trading
  • Preparation for a future transition to full stock exchange listing on Oslo Børs and Oslo Axess

Oslo Børs has much experience of maintaining direct customer relationships with issuers listed on Oslo Børs and Oslo Axess, and strives to have similarly close customer relationships with companies that are admitted to trading on Merkur Market. Oslo Børs’ customer-focused way of working results in issuers finding it easier to ask for advice and guidance from Oslo Børs. Historically, both issuer companies and Oslo Børs have found it positive and flexible to be able to communicate informally and directly when necessary.

 

Trading

Shares and equity certificates on Merkur Market are traded through the Millennium Exchange platform, thus existing members on Oslo Børs / Oslo Axess do not need to make enablement changes in order to trade. However, members need to sign a separate Membership Agreement before being granted access to Merkur Market.

For existing members on Oslo Børs / Oslo Axess no additional fixed fees will apply when signing up as a Merkur Market member. Trading fees on Merkur Market follows the prevailing fee structure applicable to Oslo Børs and Oslo Axess, and traded volume on Merkur Market will be included in the total volume of the variable trading fee model.

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