NASDAQ OMX Nordic is extending the practice of Open bid-side after knock-out that has been in use on NASDAQ OMX Helsinki to Warrants on NASDAQ OMX Stockholm. As of December 23, 2013, issuers of Warrants will be able to make use of the optional Open bid-side after knock-out practise. The extension of the practice does not cause any technical changes and is fully optional for both issuers and market participants.
This is a value-added practice to issuers and investors, and is offered by NASDAQ OMX Stockholm upon request of the warrant issuer. It enables the selling back of positions to the issuer after barrier level has been reached and settlement amount has been calculated. Issuers will be responsible for informing market participants of the possibility that upon knock-out of their warrant, the issuer may request NASDAQ OMX Stockholm to release the halt on the Order book of the knocked-out warrant for the remainder of that trading day. The issuer is also responsible for ensuring that participants are informed about the knock-out of the instrument whenever they opt to use this practice.
To make use of Open bid-side after knock-out, the issuer needs to contact NASDAQ OMX Stockholm after the knock-out event, requesting the release of the trading halt in the instrument in question. The issuer will inform the market participants about the knock-out of the warrant. The release of the trading halt of a knocked-out warrant signals to the market participants that they can sell back their positions in the warrant.
The following table contains details of the market segment the practice is being extended to as of December 23, 2013:
INET identifiers
| Exchange / MIC | Segment name | Segment symbol | Currency | Seq. no |
| XSTO | OMX STO Warrants | SEEQ WAR | SEK | 4 |
Time plan
No changes in INET system.
Practice can start to be used by issuers and market participants as of December 23, 2013.
INET Nordic Market Model No changes in the market model. Support For questions and assistance regarding this Exchange Notice, as well as any technical queries, please contact NASDAQ OMX Tech Support at: +46 8 405 64 10, operator@nasdaqomx.com.
Best regards,
NASDAQ OMX Nordic
NASDAQ OMX Nordic is not legal entity but describes the common offering from NASDAQ OMX exchanges in Helsinki, Copenhagen, Stockholm and Iceland.
