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Vaerdipapircentralen (VP) transfers Nordic clients to Telekurs Financial

Telekurs Financial has signed an agreement with Vaerdipapircentralen (VP), Denmark’s Central Security Administration, to take on the clients of VP Financial Information products in the Nordic markets; the agreement will become effective retroactively on 1 January 2008. VP has so far acted as a partner of Telekurs Financial in the Nordic markets, this will now be handled by SIX AB. Since 2 October 2007, Telekurs Group has een the majority owner of SIX AB.

Since 2002, Vaerdipapircentralen (VP) has been selling VP Financial Information products in the Nordic markets: Denmark, Sweden, Norway, Finland and Iceland. In this context, VP acted both as data provider as well as a business partner for Telekurs Financial. Retroactively from 1st January 2008, clients of VP Financial Information products that have been supported by VP will be handed over to SIX AB which is responsible for the Nordic Market within Telekurs Financial.

To ensure the continuity of data deliveries and services, VP’s existing client relations will be transferred unchanged to the local subsidiary of SIX AB responsible for the respective market. Employees at VP that have so far been responsible for VP Financial Information products will join SIX AB's respective local subsidiary. Telekurs Financial and VP will continue to collaboratively work together in the future.

This new form of collaboration offers many different advantages to both the three companies involved and their clients: "Offering our products on the same market through different channels would have created confusion among our clients", says Fritz Hediger, Telekurs Financial’s Head of International Marketing. Borger Borgersen of VP comments: "We are convinced that clients will benefit from Telekurs’ strengthened position in the market and its continued development of products, data and service". Johan Rost CEO of SIX AB says: "We are happy to be able to provide our clients with a comprehensive product portfolio that has been rounded off with back office data”