Nasdaq Helsinki
A Finnish securities exchange in Helsinki that operates as part of the Nasdaq Nordic exchange group.
Last updated August 22, 2026
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Overview
Nasdaq Helsinki is the Finnish securities exchange headquartered in Helsinki. It traces its origin to the Helsinki Stock Exchange, whose first recorded transaction took place on 7 October 1912 while Finland was still a Grand Duchy within the Russian Empire. The exchange developed through periods of wartime expansion, political upheaval, Finnish independence, civil conflict, economic crises, market booms and technological change. Its historical identity is therefore closely connected with the development of Finland’s capital markets and the financing of Finnish companies. For much of its early existence, the exchange operated as a relatively informal financial association. In 1984 it was reorganized as a cooperative, with ownership distributed primarily among banks, brokers, companies and other associations. The exchange modernized its trading infrastructure over time. In 1990, trading moved to HETI, the Helsinki Stock Exchange Automated Trading and Information System. The electronic platform replaced the earlier electromechanical trading system and allowed remote participants to trade on terms more comparable with those available to members physically present in the exchange. The institution underwent a series of structural changes during the 1990s. It became a limited liability company in 1995 and subsequently combined with Finnish clearing and securities-registration organizations. In 1997 and 1998 it acquired and integrated Finland’s derivative exchanges, creating the broader HEX structure. The organization also expanded its regional presence through majority investments in the Tallinn Stock Exchange and the Riga Stock Exchange in 2001 and 2002. A decisive transformation occurred in September 2003, when HEX Plc merged with OM AB, the owner of the Stockholm Stock Exchange. The resulting group was initially known as OM HEX and was renamed OMX the following year. After Nasdaq acquired OMX in February 2008, the Finnish market was successively branded Nasdaq OMX Helsinki and then Nasdaq Helsinki. It is now one of the national marketplaces operated within Nasdaq Nordic, alongside the exchanges in other Nordic and Baltic countries. Nasdaq Helsinki provides a regulated marketplace for the trading and listing of Finnish equities and other securities. Its activities are supported by Nasdaq Nordic’s common trading, market-data and market-infrastructure framework, while Finnish market participants and issuers remain associated with the Helsinki venue. The exchange serves listed companies seeking access to public capital, institutional and retail investors, brokers, market makers and other financial-market intermediaries. Its historical derivatives activities were integrated into the broader exchange structure rather than remaining a separate Finnish exchange brand. The OMX Helsinki 25, commonly called OMXH25, is the leading share index associated with the venue. It is a market-value-weighted index covering 25 of the most-traded shares listed on Nasdaq Helsinki and was previously known as HEX25. The exchange’s normal trading session is described as running from 10:00 a.m. to 6:30 p.m. on weekdays and excluding weekends and exchange-declared holidays. Nasdaq Helsinki is best understood not as an independent global exchange group, but as the Finnish national market within the integrated Nasdaq Nordic platform.
History
The Helsinki Stock Exchange was established in 1912 during the period when Finland was an autonomous Grand Duchy of the Russian Empire. Its first transaction was recorded on 7 October of that year. During the First World War, activity and the number of companies increased sharply, partly because of wartime demand connected with the Russian Empire. Over subsequent decades, the market experienced alternating expansion and contraction as a result of war, Finnish independence, the Finnish Civil War, economic crises, speculative cycles and advances in trading technology. The exchange remained a relatively informal financial association until 1984, when it was reorganized as a cooperative. Its members and owners included banks, brokers, companies and associations. A major technological milestone followed on 1 April 1990, when HETI became the exchange’s electronic trading system. HETI replaced the electromechanical system introduced in 1935 and made it possible for traders outside the exchange floor to submit transactions remotely. In autumn 1995 the cooperative was converted into a limited liability company named Helsingin Arvopaperipörssi. During the following period, the exchange combined with Finnish clearing and securities-depository organizations. It also acquired Finland’s two derivative exchanges in 1997 and 1998. These transactions broadened the organization beyond a traditional equity marketplace and helped form the HEX structure. In November 1998, HEX merged with Arvopaperikeskus to create Helsinki Exchanges Group Plc; the group adopted the shorter name HEX Plc in spring 2001. HEX then pursued regional consolidation. In 2001 and 2002 it acquired majority holdings in the Tallinn Stock Exchange and the Riga Stock Exchange, linking the Finnish market more closely with the emerging Baltic exchange network. On 3 September 2003, HEX Plc merged with OM AB, the company that owned the Stockholm Stock Exchange. The combined organization was initially called OM HEX and was renamed OMX in 2004. Nasdaq acquired OMX in February 2008. The Finnish market consequently became known as NASDAQ OMX Helsinki and later Nasdaq Helsinki. The exchange is now operated within Nasdaq Nordic, an integrated family of Nordic and Baltic marketplaces. Nasdaq Helsinki retains its role as the Finnish listing and trading venue while sharing group-level technology, market-data arrangements and operational infrastructure. The venue’s principal market functions include listing and trading securities, providing issuer services and distributing market information. The OMX Helsinki 25, or OMXH25, is its best-known benchmark. The index is market-value weighted and comprises 25 of the most-traded shares on the exchange; it was formerly called HEX25. The exchange’s published normal trading hours are 10:00 to 18:30 on weekdays, excluding weekends and exchange holidays.
- 2008
Nasdaq acquires OMX
[1]Nasdaq’s acquisition of OMX brings the Helsinki venue into the Nasdaq Nordic group.
- 2004
OMX identity adopted
[1]The merged organization changes its name from OM HEX to OMX.
- 2003
Merger with OM AB
[1]HEX Plc merges with OM AB and becomes OM HEX, linking Helsinki with the Stockholm exchange group.
- 2002
Majority stake in Riga Stock Exchange
[1]HEX acquires a majority share of the Riga Stock Exchange, extending its regional network.
- 2001
HEX expands into the Baltic region
[1]HEX acquires a majority share of the Tallinn Stock Exchange and adopts the HEX Plc name.
- 1998
Helsinki Exchanges Group is formed
[1]A merger with Arvopaperikeskus creates Helsinki Exchanges Group Plc, later shortened to HEX Plc.
- 1995
Conversion into a limited liability company
[1]The cooperative is converted into Helsingin Arvopaperipörssi, a limited liability company.
- 1990
HETI electronic trading begins
[1]Trading moves to the Helsinki Stock Exchange Automated Trading and Information System, enabling remote trading.
- 1984
Exchange becomes a cooperative
[1]The formerly informal financial association is reorganized as a cooperative owned mainly by financial and market participants.
- 1935
Electromechanical trading system introduced
[1]The exchange introduces the electromechanical trading arrangement later replaced by the HETI electronic platform.
Products and positioning
The Finnish venue within Nasdaq Nordic, combining a national listing and trading marketplace with shared Nordic-Baltic exchange technology, market data and market infrastructure.
Regulated securities exchange
Nasdaq Helsinki Main Market
The principal regulated marketplace associated with the Finnish exchange. It provides a venue for listed Finnish companies and other issuers, allowing investors and intermediaries to trade listed securities through Nasdaq Nordic’s shared market infrastructure.
Growth marketplace
Nasdaq First North Finland
The Finnish segment of Nasdaq First North, a Nordic-Baltic growth-market framework intended for smaller or developing companies seeking public-market access under a marketplace structure distinct from the regulated main market.
Equity index
OMX Helsinki 25
Known as OMXH25 and formerly as HEX25, this market-value-weighted index tracks 25 of the most-traded shares on Nasdaq Helsinki. It is the venue’s leading share-market benchmark and is used to represent a major segment of Finnish listed equities.
Exchange services
Market data and issuer services
Nasdaq Helsinki participates in Nasdaq Nordic’s distribution of market information and provision of services for listed companies. These functions support price discovery, public disclosure, investor access and the ongoing operation of the Finnish marketplace.
Brand decisions
2008
Became part of Nasdaq through the OMX acquisitionM&ABackground
The OMX group had developed into a regional Nordic and Baltic exchange operator.
Action taken
Nasdaq acquired OMX, after which the Finnish venue was branded Nasdaq OMX Helsinki and later Nasdaq Helsinki.
Aftermath
Nasdaq Helsinki became the Finnish national marketplace within the integrated Nasdaq Nordic exchange group.
2003
Merged with OM ABM&ABackground
Nordic exchanges were consolidating to gain scale and share technology and market infrastructure.
Action taken
HEX Plc merged with OM AB, owner of the Stockholm Stock Exchange, forming OM HEX.
Aftermath
The group was renamed OMX in 2004 and became part of Nasdaq after the 2008 acquisition.
1997
Integrated Finnish clearing and derivatives operationsM&ABackground
The exchange sought to broaden its role and consolidate fragmented Finnish market infrastructure.
Action taken
It merged with clearing and securities organizations and acquired the Finnish derivative exchanges through transactions completed in 1997 and 1998.
Aftermath
The expanded organization developed into the HEX structure and combined exchange, clearing-related and derivatives activities more closely.
1990
Adopted the HETI electronic trading systemStrategyBackground
The exchange was modernizing its market infrastructure and replacing the electromechanical trading system used since 1935.
Action taken
Trading was transferred to HETI, enabling remote market participation.
Aftermath
The change increased automation and reduced the importance of physical presence in the trading room.
Sources2 sources
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