 |
THE VPS GROUP |
|
|
| The VPS Group consists of VPS Holding ASA, VPS ASA and Manamind AS. Through local presence and knowledge, the VPS Group helps to simplify and enhance the efficiency of the securities market. VPS Holding ASA owns 50 per cent of FNN (FinansNett Norge AS) and has a 16.7 per cent share-holding in NOS (Norwegian Futures and Options Clearing House). VPS ASA is a Norwegian public-limited company, which is authorized to register rights to financial instruments with the legal effects laid down in the Act relating to the Registration of Financial Instruments. VPS undertakes clearing and settlement for trading in financial instruments in the Norwegian securities market. VPS ASA also provides a number of services relating to issues, distribution of dividends and other corporate actions for companies that are registered in VPS ASA. VPS ASA’s customers are 220 banks, brokerage houses and mutual fund management companies which provide account, settlement and related services for more than 800,000 securities holders and more than 1,200 limited companies and public limited companies. Manamind Manamind AS, a supplier of web-based solutions for the securities market, was purchased by VPS Holding ASA in 2004. Manamind supplies a wide range of solutions. The most important of these are: Net-based securities trading for ordinary savers and for active investors and a market-leading solution for the distribution of company and market analyses. Manamind had a very good year in 2004, increasing its turnover by almost fifty per cent. Relevant, up-to-date information is one of the mainstays in financial markets. The players are becoming more and more advanced and they want sophisticated solutions to adapt information to suit their own and/or their customers’ requirements. An important priority task for Manamind will be to ensure an efficient, broad distribution of value-enhancing information from the VPS registers. Ownership structure The VPS Group is organized in a holding structure, in which the parent company, VPS Holding ASA, owns 100 per cent of the operating company, VPS ASA, and 100 percent of Manamind AS.  From 1985 until 2002, VPS was a self-owned institution, established under the provisions of the 1985 Act relating to the Norwegian Central Securities Depository. The old legislation has been replaced by an Act relating to the Registration of Financial Instruments, which entered into force on 1 January 2003. VPS ASA has a share capital of NOK 50 million and is insured against loss for NOK 1 bn. |
 1987 The stock market experiences it`s worst one-day crash ever. On 19 October the Dow Jones index falls by 22.6 per cent. The Oslo Stock Exchange follows the day after with a drop of 19 per cent. This puts 28 October 1929 in the shade, but the consequences are not as dramatic. Three years later the stock market has risen by 100 per cent. Activity in the market was very high both before and after the crash. VPS handles twice as many transactions in shares and bonds. The following winter the manual calling system at the Oslo Stock Exchange is replaced by an electronic market place. |
||