The Norwegian OTC system celebrates 10 years of service
19.8.2009
The information system supporting the trade of unlisted stocks in Norway (N-OTC) came into service on August 16th , 1999. The OTC system isowned and administrated by the Norwegian Stockbrokers Information Services(FINFO), which is jointly owned by the Norwegian Securities Dealers Associationand the Oslo Stock Exchange.
The technical operation of the system is handledby Oslo Market Solutions.
To commemorate the 10-year anniversary, the Norwegian Securities DealersAssociation has published and distributed a special newsletter. Here is anexcerp, translated from Norwegian:
“Several persons have contributed to the success of the OTC system. Thebroker companies using the OTC system are of course the‘engine’ of the system. They help companies acquire financing in the stock market and introduce them to the OTC list. The brokers create market awareness for the companies' shares through presentations, research and advisory services. Without the brokers' activities, there would be no liquidity in these shares.
Oslo Market Solutions (Manamind) created and operates the IT system.The employees of Oslo Market Solutions have contributed ideas and solutions during the evolution of the system, from conception and up til today. Operations have been impeccable, and system downtime is extremelyrare. CEO Hugo Sundkjer and the ‘veteran’ Dag Hasvold are well versed in howthe market works, and they have made sure the system meets the demands of the market".