Effective June 9, 2014, tick sizes for certain equity instruments admitted to trading on NASDAQ OMX Helsinki and NASDAQ OMX Stockholm as well as equities admitted to trading on First North Stockholm, First North Finland, and First North Iceland will be changed.
The change is based on customer requests in order to ensure a better price formation for equities trading below 1 EUR/SEK/ISK.
Overall, the change implies the creation of two new tick size tables and a name change for two existing tick size tables. The two existing tables being:
- “XHEL Equities EUR”, with ID 113
- “Equities SEK”, with ID 1
Moreover, the change implies termination of tick size table:
- FN Equities, with ID 177
Please see further down for a detailed description on the activities involved as well as the tick sizes for the two new tables.
Time Table
- INET test environment (OTF) and GCF4: from May 20, 2014
- INET production and GCF production: from June 9, 2014
Orders in affected order books on production
- The changes will be effective from and including June 9, 2014
- GTC orders with a valid tick size will remain in the order book for trading June 9
- GTC orders that do not have a valid tick size will be rounded to match a valid tick size or automatically rejected on pre-trade June 9, based on members’ chosen preferences.
INET Nordic Market Model
The changes will be updated in the Market Model, Appendix F and available latest May 23, 2014 on http://www.nasdaqomx.com/listing/europe/rulesregulations/
Detailed description of the NASDAQ OMX Helsinki market
- Move equities (not structured products) from existing tick size table “XHEL Equities EUR” with ID 113 to a new tick size table, “XHEL Other Equities”, which is described further down.
- This means transferring the market segments stated in the table below. Enclosed with this IT Notice you find a list with the order books that will be moved to the new table. We will publish an updated list close to production date.
- Name change: After the below transfers of market segments to the new table “XHEL Other Equities”, existing tick size table “XHEL Equities EUR” will not include equities and the table’s name will be changed to “XHEL Other Instruments”. Please note that the table’s ID does not change, it remains as is, 113.
| Transfer the following market segments from existing table “XHEL Equities EUR” to a new table “XHEL Other Equities” | The market segments that remain on existing table “XHEL Equities EUR” (which will change name to “XHEL Other Instruments”) |
| OMX HEL Equities CCP (only one active ISIN code – SE0000108656) | OMX HEL Actively Managed Funds |
| OMX HEL Equities Intraday Cross (only equities that do not have “XHEL Equities EUR FESE2” tick size table 218) | OMX HEL Covered Warrants |
| OMX HEL Equity Rights | OMX HEL Exchange Traded Notes |
| First North Finland | OMX HEL Fund Units (only one active ISIN code – FI0008805627) |
Detailed description of the NASDAQ OMX Stockholm market
- Move equities (not structured products) from existing tick size table “Equities SEK” with ID 1 to a new tick size table, “Other Equities”, which is described further down.
- This means transferring the market segments stated in the table below. Enclosed with this IT Notice you find a list with the order books that will be moved to the new table. We will publish an updated list close to production date.
- Name change: After the transfer to the new table, “Other Equities”, existing table “Equities SEK” does not include equities and the table’s name will be changed to “Warrants and Certificates”. Please note that the table’s ID does not change, it remains as is, 1.
| Transfer the following market segments from existing table “Equities SEK”to a new table “Other Equities” | The market segments that remain on existing table “Equities SEK” (which will change name to “Warrants and Certificates”) |
| OMX STO Eq.rights, Subs.Opt, Int.shares | OMX STO Certificates |
| OMX STO Equities | OMS STO Exchange Traded Notes |
| OMX STO Equities Intraday Cross | OMX STO Warrants |
Detailed description of First North STO and First North Iceland
- Equities from existing tick size table “FN Equities” with ID 177 will be transferred to the new tick size table “Other Equities” which is described further down.
- This means transferring the market segments in the table below:
| Transfer the following market segments from existing tick size table “FN Equities” to a new table “other Equities” | Market segment that remains on existing table “FN Equities” |
| First North STO | None |
| First North Iceland |
- Delete tick size table: After the transfer of the above two First North market segments, no market segments will be connected to the “FN Equities”, and the table will, therefore, be deleted.
Detailed description of the two new tick size tables
- New tick size table “XHEL Other Equities”
- ID 228:
- The market segments that will be transferred to this new table are the ones described in the table above under heading “Detailed description of the NASDAQ OMX Helsinki market”
- The tick sizes in the new table are:
| Price Interval From – To | Tick Size |
| 0.00 - 0.499 | 0.001 |
| 0.50 - 0.995 | 0.005 |
| 1.00 - | 0.01 |
- New tick size table “Other Equities”
- ID 227:
- The market segments that will be transferred to this new table are the ones described in the tables above under headings “Detailed description of the NASDAQ OMX Stockholm market”, and “Detailed description of First North STO and First North Iceland”
- The tick sizes in the new table are:
| Price Interval From – To | Tick Size |
| 0.000 - 0.499 | 0.001 |
| 0.500 - 0.995 | 0.005 |
| 1.000 - 4.990 | 0.01 |
| 5.00 - 14.95 | 0.05 |
| 15.00 - 49.90 | 0.1 |
| 50.00 - 149.75 | 0.25 |
| 150.00 - 499.50 | 0.5 |
| 500.00 - 4,999.00 | 1.00 |
| 5,000.00 - | 5.00 |
Information to users of AktieTorget
Customers, ISVs, Vendors, and other interested parties using AktieTorget should note that the instruments trading on market segment “MM Aktietorget-cotr, id 17” will be moved from tick size table “Equities SEK” with ID 1 to the new tick size table “Other Equities” with ID 227, which is described above.
The order books that will be moved are included in the list attached to this notice.
Please direct your questions regarding AktieTorget directly to AktieTorget on +46 8 511 68000 or marknadsmeddelanden@aktietorget.se
Support
If you have any questions regarding this Exchange Notice, please contact NASDAQ OMX Tech Support at: +46 8 405 6410, operator@nasdaqomx.com
Best regards
NASDAQ OMX Nordic
