IT – INET Nordic – Additional optional Tick Size table for Exchange Traded Products and changes to the use of Buy-Back functionalities (32/16)
Nasdaq Nordic is planning an additional, optional tick size table for Exchange Traded Products on Nasdaq Stockholm. Additionally, changes will be introduced to the use of the Sold-Out Buy-Back, Buy-Back and Knock-Out Buy-Back on Nasdaq Stockholm, Nasdaq Helsinki and Nasdaq Copenhagen.
The additional tick size table for Warrants, Certificates and Exchange Traded Notes on XSTO contains tick size 0,001 for all price levels. The table is an existing tick size table which will be renamed for this purpose.
Enhancements to the use of the Buy-Back functionalities relate to market practice and procedural changes that are to be reflected in the Market Model. Technical functionality will remain unchanged. Sold-Out Buy-Back and Buy-Back will be allowed going forward also in unforeseen and exceptional circumstances where it is unreasonable for the Market Maker/Issuer to be expected to maintain two-sided prices in the instrument. Additionally going forward, the Knock-Out Buy-Back functionality can be activated directly with the “KB” note code, without first placing the instrument in “Trading Halt – Knock Out”. As of July 4, both the practice of placing the instrument in “Trading Halt- Knock Out” and then applying the note code “KB” as well as the practice of applying the note code “KB” without the instrument being in “Trading Halt – Knock Out” first, will be allowed.
The tick size table change is planned for INET and GCF production as of July 4, 2016 and testing will be available in INET Test (NTF) and GCF - TST4 as of June 21, 2016.
Details
INET identifiers:
Issuers of instruments within the following market segments may opt for the tick size table with 0,001 across all price levels as of July 4, 2016.
Exchange / MIC |
Segment name |
Segment symbol |
Currency |
Seq. no |
GCF ID |
XSTO |
OMX STO Warrants |
SEEQ WAR |
SEK |
4 |
21 |
XSTO |
OMX STO Certificates |
SEEQ CERT |
SEK |
160 |
256 |
XSTO |
OMX STO Exchange Traded Notes |
SEEQ COM |
SEK |
158 |
264 |
Tick size table details:
Table Id: 224
Price levels |
Tick Size |
0.000 - |
0.001 |
Tick Size Table name change:
Current name |
New name as of July 4, 2016 |
XRIS-equities 3 dec. |
Three decimals |
Protocol specifications
No changes to protocol specifications.
Current versions of INET protocol specifications are available at the Nasdaq Nordic Technical Information website, under INET Nordic Protocol Specifications.
Implementation schedule
Time schedule
The additional tick size table will be available for XSTO Exchange Traded Products:
- INET Test (NTF), GCF - TST4 – June 21, 2016
- GCF Production – July 4, 2016
- INET Production – July 4, 2016
Documentation
INET Nordic Market Model:
Changes will be reflected in the Market Model. The current and future version of the Market Model can be viewed at http://business.nasdaq.com/list/Rules-and-Regulations/European-rules/index.html.
Support
For technical questions, please contact Nasdaq Cash Equity Operations:
Tel: +46 8 405 6410,
E-mail: operator@nasdaq.com
List of test instruments can be requested from Nasdaq Cash Equity Operations.
Best regards,
Nasdaq Nordic
“Nasdaq Nordic” is not a legal entity but represents the common offering by Nasdaq Copenhagen A/S, Nasdaq Helsinki Ltd, Nasdaq Iceland hf. and Nasdaq Stockholm AB.
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