IT – INET Nordic – Nasdaq Nordic introduces new market segments for Exchange Traded Notes (ETN) classified as securitized derivatives and transfers these instruments to First North (58/17)
As previously communicated in the IT Notice 55/17, Nasdaq Nordic is planning to transfer the existing market segments for warrants and certificates on the Copenhagen, Helsinki and Stockholm regulated markets to respective First North exchanges. Additionally, market segments for ETN products will be split in to two new market segments; Leverage Certificates and Tracker Certificates and will be moved to respective First North exchanges. As with warrants and certificates move, this transfer is planned to be completed in a three step process where the new market segments under respective First North MTFs will be available in production on mid November 2017. A migration period for moving a limited set of existing instruments for verification will follow and as of December 1, 2017, trading will continue on the new market segments under First North in Copenhagen, Helsinki and Stockholm. Please find the detailed time schedule further down in this notice. The transfer of these products to First North is pending regulatory approval.
The new market will have the same characteristics in terms of issuers’ obligations, in terms of rules for member participation and trading functionalities.
INET identifiers:
Current market segments will be permanently closed at the end of the trading day on November 30, 2017. The trading will continue on the new market segments on First North MTFs as of 1th of December.
|
Current Exchange/MIC |
Current Market Segment name (Seq. No) |
New Exchange/MIC |
New Segment Name |
Segment Symbol |
Seq. No |
|
XCSE |
OMX CPH Exchange Traded Notes (196) |
FNDK |
CPH Tracker Certificates |
CPH TRA |
208 |
|
XCSE |
OMX CPH Exchange Traded Notes (196) |
FNDK |
CPH Leverage Certificates |
CPH LEV |
209 |
|
XHEL |
OMX HEL Exchange Traded Notes (157) |
FNFI |
HEL Tracker Certificates |
HEL TRA |
210 |
|
XHEL |
OMX HEL Exchange Traded Notes (157) |
FNFI |
HEL Leverage Certificates |
HEL LEV |
211 |
|
XSTO |
OMX STO Exchange Traded Notes (158) |
FNSE |
STO Tracker Certificates |
STO TRA |
212 |
|
XSTO |
OMX STO Exchange Traded Notes (158) |
FNSE |
STO Leverage Certificates |
STO LEV |
213 |
Instrument Subtype:
For the purposes of the new Market Segments for Leverage Certificates and Tracker Certificates, a new instrument subtype for respective product will be created and will be sent out with the reference data.
1. Leverage Certificate
2. Tracker Certificate
More information regarding the individual instruments receiving new instrument subtypes will be communicated later.
Opening Hours:
There will be no changes in the current opening hours.
Turnover Lists and List population ids:
New turnover lists will be created for the market segments above. Please find the detailed table describing the details of the current and future turnover list and list population ids.
|
Exchange |
List Name |
Code |
List ID |
List Population name |
List Population ID |
Change description |
|
XCSE |
Exchange Traded Notes DKK |
ETN DKK |
124612 |
ETNs Copenhagen |
123654 |
Will be deactivated 2017-11-30 |
|
FNDK |
CPH Tracker Certificates |
CPHTC |
124629 |
CPH Tracker Certificates |
123676 |
NEW |
|
FNDK |
CPH Leverage Certificates |
CPHLC |
124630 |
CPH Leverage Certificates |
123681 |
NEW |
|
XHEL |
Exchange Traded Notes EUR |
ETN EUR |
124611 |
ETNs Helsinki |
123653
|
Will be deactivated
2017-11-30 |
|
FNFI |
HEL Tracker Certificates |
HELTC |
124631 |
HEL Tracker Certificates |
123677 |
NEW |
|
FNFI |
HEL Leverage Certificates |
HELLC |
124632 |
HEL Leverage Certificates |
123680 |
NEW |
|
XSTO |
Exchange Traded Notes SEK |
ETN SEK |
124610 |
ETNs Stockholm |
123652 |
Will be deactivated
2017-11-30 |
|
FNSE |
STO Tracker Certificates |
STOTC |
124633 |
STO Tracker Certificates |
123678 |
NEW |
|
FNSE |
STO Leverage Certificates |
STOLC |
124634 |
STO Leverage Certificates |
123679 |
NEW |
Market access:
All members trading in these products that do not have access to First North are required to be activated in order to trade the products in the scope after the transfer to First North. For more information regarding the activation procedure, please contact Nasdaq Cash Equity Operations at operator@nasdaq.com.
Time schedule:
- INET Test (NTF) and GCF TST4 – October 16, 2017
- INET Test (M2) and GCF TST3 – October 16, 2017
- Tentative dates for INET and GCF production launch:
1. New market segments available– November 15, 2017
2. New market segments available for test transfer of a limited set of existing instruments from the regulated market to new market segments under First North – November 15, 2017 until the end of the trading day on November 30, 2017
3. Closure of the market segments on the regulated market and transfer of the remaining instruments to the new market segments under First North:
a. Closure of the existing Market Segments on the regulated markets: End of trading day on November 30, 2017
b. All instruments traded on First North Sweden, First North Denmark, First North Finland: December 1, 2017
Market Model
The Nasdaq Nordic Market Model will be updated and will be effective as of November 15, 2017
Testing support
For technical questions relating to testing, please contact Nasdaq Cash Equity Operations:
Tel: +46 8 405 6410
E-mail: operator@nasdaq.com
Best regards,
Nasdaq Nordic
Nasdaq Copenhagen, Nasdaq Helsinki, Nasdaq Iceland, Nasdaq Riga, Nasdaq Stockholm, Nasdaq Tallinn and Nasdaq Vilnius are respectively brand names for Nasdaq Copenhagen A/S, Nasdaq Helsinki Ltd, Nasdaq Iceland hf., Nasdaq Riga AS, Nasdaq Stockholm AB, Nasdaq Tallinn AS and AB Nasdaq Vilnius. Nasdaq Nordic represents the common offering by Nasdaq Copenhagen, Nasdaq Helsinki, Nasdaq Iceland and Nasdaq Stockholm. Nasdaq Baltic represents the common offering by Nasdaq Tallinn, Nasdaq Riga and Nasdaq Vilnius.
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