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Nasdaq Helsinki, formerly known as the Helsinki Stock Exchange (, ), is a stock exchange located in Helsinki, Finland. Since 3 September 2003, it has been part of Nasdaq Nordic (previously called OMX). After the OMX merger, it was referred to as OMX Helsinki (OMXH), then after NASDAQ's acquisition of OMX in February 2008, NASDAQ OMX Helsinki, and currently Nasdaq Helsinki.
The Stock Exchange Association ( Pörssiyhdistys) was founded in 1862. The association held regular meetings at the House of Nobility in Helsinki. Stock exchange activity remained modest, as only a few companies were listed. The association’s work also stayed limited because economic conditions deteriorated, the value of money was unstable, and the years of famine struck Finland.
Architect Karl August Wrede designed a stock exchange building in Helsinki in 1882 in the Neo-Baroque style. This demonstrated that Finland had long-standing aspirations to establish stock exchange activity.
At the turn of the 19th and 20th centuries, Helsinki’s population grew rapidly. Finland industrialised, and economic growth was brisk. The belle époque era created a favorable moment to initiate stock exchange activities.
The Helsinki Stock Exchange was founded during the era of the Grand Duchy of Finland in 1912, and in its early years, trading took place in the Stock Exchange building located on Fabianinkatu, where operations continued until 1989. Helsinki Bourse Club was founded at the same time. The stock exchange received its establishment permit from the Imperial Senate of Finland and from Emperor Nicholas II.
The Helsinki Stock Exchange saw its first transaction on October 7, 1912. From then it remained a "free form" financial association until in 1984 it was converted into a cooperative owned mostly by , stock trader, other companies and associations.
The exchange went through a colorful history, including significant growth during World War I, when the number of companies nearly multiplied tenfold due to Russian Empire's wartime demand. The exchange's performance and returns have been volatile, experiencing bubbles, downturns, impacts of wars, Finnish independence, the civil war, economic crises, and technological development.
During the 1950s and 1960s, the Helsinki Stock Exchange remained largely dormant and was largely forgotten by savers. However, in the 1970s the exchange experienced a significant revival and regained the interest of investors. Between 1968 and 1973, the market value of the exchange tripled, driven by a strong economic upturn and increased investor participation. This growth was subsequently reversed during the mid-1970s due to the international oil crisis and rising inflation, which caused the exchange to lose two-thirds of its value. Toward the end of the 1970s, the Helsinki Stock Exchange aligned with a global market upswing, which continued into the affluent 1980s before culminating in a recession toward the end of that decade. This period marked a renewed phase of activity and expansion for the stock exchange after years of relative inactivity. the 1990s, the Helsinki Stock Exchange recovered quickly from the recession, partly due to Nokia's success. In 2003, the exchange merged with the Swedish OMX, and a year later Nasdaq bought OMX, making the Helsinki Stock Exchange part of the international Nasdaq group. Today, trading is fully electronic, although the exchange's offices are still located in the old Stock Exchange building on Fabianinkatu. On April 1, 1990, trading was moved to a new digital system: HETI (Helsinki Stock Exchange Automated Trading and Information System, and in Finnish a rough backronym for "immediately"), which replaced the electro-mechanical trading system originally introduced back in 1935. HETI enabled remote traders to conduct transactions on equal terms with those in the trading room. The cooperative changed to a limited liability company ( Helsingin Arvopaperipörssi) in the fall of 1995 and merged with several clearing and stock deposit companies and associations at the beginning of 1997. During 1997 and 1998 the Stock Exchange bought both of the Finnish derivative exchanges and merged them with itself to become HEX. In November 1998 HEX merged with Arvopaperikeskus to form Helsinki Exchanges Group Plc, which then changed its name to HEX Plc in the spring of 2001. In 2001 and 2002 HEX acquired a majority share of the Tallinn Stock Exchange and the Riga Stock Exchange.
On 3 September 2003, HEX Plc merged with OM AB, owner of the Stockholm Stock Exchange, to become OM HEX. A year later, the company was renamed to OMX.
OMX Helsinki 25 (OMXH25) is the leading share index on Nasdaq Helsinki. It is a market value weighted index that consists of the 25 most-traded on Nasdaq Helsinki. OMXH25 was earlier known by its old name, HEX25.
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