Derivatives: Introduction of Market Maker obligati

In preparation for the transparency regime being introduced with MIFID II as of January 2018, Nasdaq Derivatives Markets will extend the Market Maker (MM) obligations for Swedish derivatives to also cover Request for Quote (RFQ) on Tailor-Made Combinations (TMCs).

RFQs on TMCs means the provision of bid and ask quotes which is to be made within a stated period of time following the request and which is to be valid for a stated period of time with a specified maximum spread and minimum number of contracts.

A soft launch is set to June 1, 2017 with a final launch as of December 1, 2017. MM will be set up for supervision during the soft launch period with the intention to give stakeholders time to adapt and calibrate towards new obligations and for the Exchange to collect feedback from market participants, analyse the behaviour and use of the service in order to set the final requirements ahead of the final launch when firm obligations are being introduced.

Prior to the final launch as of December 1, 2017, MMs shall enter into new MM agreements with the Exchange. The content of these agreements will also include the requirements specified in MIFID II.

Please refer to page 2 and 3 in this notice for a detailed description of the MM obligations.

For further information concerning this exchange notice please contact Joakim Fernlund or Mikael Siewertz, telephone +46 8 405 60 00.