What Is the Oslo Stock Exchange (OSL)?
Let me explain the Oslo Stock Exchange, or OSL, directly to you—it's Norway's only regulated market for securities trading, right in the capital city of Oslo. You can trade equities, bonds, and exchange-traded products here, and as of May 13, 2022, its market cap stood at about $295.55 billion. I know it was founded in 1819 and got acquired by Euronext in 2019, plus it's part of the NOREX alliance, which draws in foreign investors.
Understanding the Oslo Stock Exchange (OSL)
You should know that the Oslo Stock Exchange is Norway's main stock market, often called Oslo Børs, and it's the country's sole regulated exchange for securities. Located in Oslo, it handles trading in equities, bonds, ETFs, ETPs, derivatives, and some funds. As of September 2024, there are 332 companies with equity shares listed, mostly in energy, seafood, and shipping sectors. While most are Norwegian public limited companies, foreign ones list here too.
If you're interested in investing, you can look at the Oslo OBX Index, which includes the 24 most liquid securities and gets revised twice a year based on market data from specific dates in March and September. The whole system is fully electronic since 1999, with trading hours from 9:00 a.m. to 4:20 p.m. local time, Monday to Friday. It closes for seven national holidays and has one partial trading day annually. Remember, all trading happens in Norwegian kroner.
History of the Oslo Stock Exchange (OSL)
The OSL started in 1819 as the Christiana Børs, initially for merchants to trade news and goods like lumber. It became an official stock exchange in 1881 for listing and trading securities, changing its name to Oslo Børs in the early 1900s. By the late 1990s, with brokerage firms rising, physical meetings faded, so it went private as an LLC in 2001. In 2007, Oslo Børs VPS Holding ASA took ownership after a merger.
To boost international appeal, it joined the NOREX alliance in 2000, linking with Stockholm, Copenhagen, and Iceland exchanges for a common platform and rules. In 2019, Nasdaq and Euronext bid for control; Nasdaq had shareholder support but withdrew after Norway's finance ministry approved Euronext's offer, completed in June 2019. For listing, companies must meet requirements on ownership, history, shares, and market value disclosure.
Markets Associated With the Oslo Stock Exchange (OSL)
Beyond the main exchange, Oslo Børs VPS Holding ASA runs four other markets: Oslo Axess, Merkur Market, Nordic ABM, and Oslo Connect. Oslo Axess, started in 2007, is a regulated market for small companies not yet qualifying for the main OSL. Merkur Market, from 2016, is an MTF for SMEs, including private limited companies, with a fast admission process—qualified applicants can trade in two weeks.
Nordic ABM, established in 2005, is an alternative bond market where the OSL sets rules, fees, and registration, though it's not regulated or an MTF. Oslo Connect is an OTC derivatives market regulated as an MTF; participants need agreements with the OSL and a clearinghouse.
Frequently Asked Questions About the Oslo Stock Exchange
You might ask what the Oslo Stock Exchange is called—it's the premier Norwegian exchange, also known as Euronext Oslo or Oslo Børs, owned by Euronext. Yes, it's an EU-regulated market since Euronext operates in the EU, but unlike others, it's not an SME growth market. As of April 2024, 332 companies are listed. To buy Norwegian stocks, trade directly on the OSL for best liquidity, or use ADRs on U.S. exchanges for companies like Equinor, Idex Biometrics, and Opera. Euronext Oslo is just another name for it, with Euronext winning the 2019 acquisition over Nasdaq; Euronext is Europe's largest stock exchange group based in Amsterdam.
The Bottom Line
Even though Norway isn't in the EU, Euronext owns the OSL from Amsterdam, making it a regulated EU market and Norway's only such exchange with around 340 companies and various financial instruments.
Key Takeaways
- The Oslo Stock Exchange is Norway's major stock market and only regulated securities exchange.
- It was established in 1819.
- The OSL was privatized in 2001 and acquired by Euronext in 2019.
- Most companies are Norwegian, but foreign listings are encouraged.
- Trading is fully electronic on the Oslo Stock Exchange.
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