Nasdaq First North MTF: Rules & Regulations
First North is a Multilateral Trading Facility (MTF) as defined in the Markets in the Financial Instruments Directive (MiFID), regulating securities companies and exchanges in the European Union. Issuers on First North MTF are subject to the rules of different segments of First North MTF but not the requirements for admission to trading on a regulated market.
The rules of the different segments are the same in all local First North markets, except for a few, smaller differences due to national law. The equity segment, Nasdaq First North Growth Market is a registered SME growth market as defined in EU legislation (as implemented in national law).
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Issuer Rules
In this section, you will find current rulebooks and rules, Q&As, regulatory notices pertaining to rule changes and the upcoming version of the new rulebooks. Swedish/Finnish/Danish/Icelandic documents are placed under Local Language Versions when available.
Common Rules
Rules & Regulations - Nordic Member Rules
The Nasdaq Nordic Member Rules contain conditions for membership and trading rules on the regulated markets and MTFs.
Learn MoreRules & Regulations – Nordic Main Market Rules
The Nasdaq Nordic Main Market Rules contain requirements for issuers to be admitted to trading on the regulated market.
Learn MoreRules & Regulations - Derivatives Rules
Rules and Regulations of Nasdaq Derivatives Markets govern Nasdaq Stockholm's derivative exchange & Nasdaq Clearing.
Learn MoreLocal Rules
Rules & Regulations - Helsinki
Nasdaq Helsinki (Helsingin pörssi) is a regulated market licensed in Finland.
Learn MoreRules & Regulations - Copenhagen
Nasdaq Copenhagen (Københavns Fondsbørs) is a regulated market licensed in Denmark.
Learn MoreRules & Regulations - Stockholm
Nasdaq Stockholm (Stockholmsbörsen) is a regulated market licensed in Sweden.
Learn MoreRules & Regulations - Iceland
Nasdaq Iceland (Kauphöll Íslands) is a regulated market licensed in Iceland.
Learn More