The Nasdaq OMX Group, Inc. (NASDAQ: NDAQ) today announced that Magnus Billing has been appointed President of NASDAQ OMX Stockholm.
"I'm very pleased that Magnus has accepted this position. His solid regulatory expertise and his extensive knowledge and understanding of our business and the current changes within the exchange industry, is an excellent combination which will be beneficial for NASDAQ OMX", said Hans-Ole Jochumsen, Executive Vice President Transaction Services Nordics and President of NASDAQ OMX Nordics.
"Magnus also has a thorough knowledge of our clearing operations, which is very valuable. The development of the clearing operation is crucial for the Nordic financial markets, and a key growth area for NASDAQ OMX Nordics."
"I am very proud and happy to have been given this opportunity", said Magnus Billing. "The Stock Exchange is a key player in the economy. The new regulations and the growing competition create both challenges and opportunities. I'm honoured to be heading NASDAQ OMX Stockholm and to make sure that it remains an attractive infrastructure for fund raising and investments. I am particularly happy about the initiatives in relation to our First North success."
Magnus Billing will assume the position as of July 1, 2013. At the same time he will assume the position as Senior Vice President Nordic Fixed Income and NASDAQ OMX Baltics/Armenia.
As previously announced the current President of the Stockholm Stock Exchange and Senior Vice President Nordic Fixed Income and NASDAQ OMX Baltics, Jens Henriksson, will leave NASDAQ OMX