Nordic stock exchange operator OMX is closing part of its technology subsidiary in Helsinki and shifting operations to other locations, leading to the loss of 20 jobs.
OMX says operational staff as well as management and administration employees will be affected by the move, which is the latest in a series of cost cutting measures at the company.
The group said in October that it was streamlining its derivatives trading and global services operations in Finland, resulting in the loss of 18 jobs, while in September systems development and maintenance services previously handled by the OMX Technology subsidiary were outsourced to Indian IT firm HCL Technologies.