Nasdaq Sustainability Report 2022

    Lit Trading

    The most liquid pool for Nordic shares

    One common gateway for trading Swedish, Finnish, Danish, Icelandic and Norwegian equities

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    The Most Liquid Pool for Nordic Shares

    Nasdaq Nordic is the largest lit venue for trading Nordic shares. At almost all times, the European Best Bid or Offer for Nordic shares can be found in our main order books. Thanks to the high liquidity, the order depth at EBBO is also larger, providing better pricing and more efficient execution of larger orders.

    The total turnover of the Nasdaq equity trading, number of trades and traded shares are published in our monthly equity trading reports.

    Nasdaq Nordic is the largest lit venue for trading Nordic shares. At almost all times, the European Best Bid or Offer for Nordic shares can be found in our main order books. Thanks to the high liquidity, the order depth at EBBO is also larger, providing better pricing and more efficient execution of larger orders.

    The total turnover of the Nasdaq equity trading, number of trades and traded shares are published in our monthly equity trading reports.

    Full CCP Risk Coverage
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    Nasdaq Nordic Markets

    Nasdaq Nordic represents the combined offering of:

    • Nasdaq Copenhagen
    • Nasdaq Helsinki
    • Nasdaq Iceland
    • Nasdaq Stockholm

    The number of companies listed on Nasdaq Nordic's market places are growing at a steady rate. See the latest statistics for up-to-date information.

    Nasdaq Nordic represents the combined offering of:

    • Nasdaq Copenhagen
    • Nasdaq Helsinki
    • Nasdaq Iceland
    • Nasdaq Stockholm

    The number of companies listed on Nasdaq Nordic's market places are growing at a steady rate. See the latest statistics for up-to-date information.

    Norwegian Shares

    Norwegian shares listed on Oslo Børs can be traded on First North Stockholm, with trades executed either on First North Stockholm or via routing. All equities with primary listing on Oslo Børs are subject to the same market surveillance that applies to the Nasdaq Nordic markets and are CCP-cleared.

    Norwegian shares listed on Oslo Børs can be traded on First North Stockholm, with trades executed either on First North Stockholm or via routing. All equities with primary listing on Oslo Børs are subject to the same market surveillance that applies to the Nasdaq Nordic markets and are CCP-cleared.

    Moody Norway landscape
    advisor in conversation pointing at screen

    Transparency and Regulation

    We offer a well-regulated and transparent market, where both listed companies and trading activity are scrutinized. To ensure the integrity of our market surveillance, it is carried out by a function separated from the business units within Nasdaq.

    We offer a well-regulated and transparent market, where both listed companies and trading activity are scrutinized. To ensure the integrity of our market surveillance, it is carried out by a function separated from the business units within Nasdaq.

    Technical Capability

    Nasdaq Nordic trading technology is based on the INET trading platform, capable of handling over 1 million messages per second at an average speed of sub-100 microseconds.

    INET Nordic trading functionalities and order types can be found in the INET Nordic Cash Equity Market Model. Please refer to the Member Rules page for latest Market Model updates.

    Issuer Surveillance

    Nasdaq Issuer Surveillance verifies the qualifications for all companies before they are listed. Continuous verification and enforcement ensure that all listed companies uphold their undertakings and always meet the listing criteria.

    Issuer Surveillance verifies and enforces initial and continued listing qualifications of the listed companies. This includes responsibility for the formal listing process as well as handling all types of corporate actions. It also monitors compliance with the disclosure rules of the exchanges to ensure a transparent, consistent and fair market.

    European Market Surveillance

    Trading Surveillance

    Trading Surveillance upholds the market integrity by monitoring all trading activity to identify suspected market abuse.

    Trading Surveillance is responsible for monitoring the trading on Nasdaq Nordic markets. The goal is to uphold market integrity by enforcing the rules of the exchange and by identifying and referring any matter regarding suspected market abuse. Another task for Trading Surveillance is to resolve matters relating to trading incidents.

    European Market Surveillance

    Primary Market Benefits

    Best Liquidity for Nordic Shares

    A majority of lit order book trading of Nordic shares occurs in the Nasdaq Nordic main order books. We provide better liquidity than any secondary marketplace.

    Best EBBO for Nordic Shares

    Nasdaq Nordic main order books offer the European Best Bid or Offer (EBBO) most of the time.

    Largest Order Depth at Best Bid

    A high liquidity also mean larger order depths at Best Bid or Offer in our main order books, providing better pricing and more efficient execution of orders.

    Contact

    Contact our European Equity Sales teams

    Resource Center

    Related Solutions

    Auction on Demand - AOD

    Auction on Demand

    Periodic auctions as an alternative to OTC and dark pool trading.


     

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    Auctions

    Nordic Auctions

    Auctions at opening and closing offer robust pricing and volume discovery.

     

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    Nordic@Mid

    Nordic@Mid Darkpool

    Mid-point matching for reduced market impact costs - as well as a price advantage.

     

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    Nordic Workstation

    Nordic Workstation

    Cost-efficient software for trade management.


     

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    Order Routing

    Smart Order Routing for EBBO

    Plug-and-play best execution solution.

     

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    Algos

    Execution Algorithms

    Efficient pay-as-you-go trading algorithms.


     

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    Trade Reporting

    Trade Reporting of Equity Trades

    Any trades that occur outside Nasdaq Nordic Central Limit Order book must be reported to the relevant order book.

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    Post-Trade Arrangements

    Post-Trade Arrangements

    Trades are cleared and settled either through a Central Counterparty (CCP) or they are settled on a gross basis.

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    Market Making

    Market Making (INET)

    Nasdaq Nordic offers a Market Making Agreement for members and participants acting as Market Maker per MiFID II.
     

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