The Nordic Compass business alliance is proposing a unified public market for stocks and securities across the Nordic region to attract international capital and prevent companies from listing in the US. The initiative aims to harmonize rules and integrate trading, clearing, and settlement systems, creating one of Europe’s three largest exchanges. Christian Clausen, chairman of BlackRock in the Nordics, stated the region is currently viewed as fragmented and lacks global attention.
A combined market would improve price discovery, increase trading velocity, and lower capital costs. The proposal, inspired by Mario Draghi’s competitiveness report, involves around 40 partners including EQT, Nordea, and the Novo Nordisk Foundation. While Nasdaq and Euronext already operate in the region, national regulatory and legal differences remain obstacles.
The alliance also plans a Nordic growth fund to address immediate financing gaps.
Source: Bloomberg Markets · Summarized by HeadlinesBriefing