European Rules and Regulations
The rules and regulations serve an important purpose to sustain confidence in the financial market, enable a common framework for listed companies and protect minority stakeholders such as retail investors.
Regulated Markets and MTF
Nasdaq operates securities markets in Stockholm, Copenhagen, Helsinki and Iceland. These Nasdaq Nordic Markets which are jointly called the Nasdaq Nordic Main Market are classified as Regulated Markets within the meaning of MiFID II. Beside the Regulated Markets, Nasdaq also operates First North, a market that is classified as a Multilateral Trading Facility (MTF) pursuant to MiFID II. The equity segment, Nasdaq First North Growth Market, is a registered SME Growth Market as defined in MiFID II (as implemented in national law).
The Common Nordic Rules cover the framework for Nasdaq Copenhagen, Nasdaq Helsinki, Nasdaq Iceland and Nasdaq Stockholm within the areas of listing at Nasdaq Nordic Main Market (Nasdaq Nordic Main Market Rules) and Nasdaq First North MTF (Nasdaq First North MTF Rules) as well as cash equity and fixed income trading (Nasdaq Nordic Member Rules).
In addition, Nasdaq Stockholm and Nasdaq Clearing operate the Nasdaq Derivatives Markets, a derivatives exchange for trading and clearing in equity derivatives and fixed income derivatives (Derivatives Rules).
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Common Rules
Nordic Member Rules
Rules & Regulations - Nordic Member Rules
The Nasdaq Nordic Member Rules contain conditions for membership and trading rules on the regulated markets and MTFs.
Nordic Main Market Rules
Rules & Regulations – Nordic Main Market Rules
The Nasdaq Nordic Main Market Rules contain requirements for issuers to be admitted to trading on the regulated market.
Derivatives Rules
Rules & Regulations - Derivatives Rules
Rules and Regulations of Nasdaq Derivatives Markets govern Nasdaq Stockholm's derivative exchange & Nasdaq Clearing.
First North MTF Rules
Rules & Regulations - First North MTF Rules
The Nasdaq First North Rules contain common and local requirements to be admitted to trading on the Nasdaq First North.
Local Rules
NASDAQ COPENHAGEN
Rules & Regulations - Copenhagen
Nasdaq Copenhagen (Nasdaq København) is a regulated market licensed in Denmark.
Nasdaq Helsinki
Rules & Regulations - Helsinki
Nasdaq Helsinki (Helsingin pörssi) is a regulated market licensed in Finland.
Nasdaq Stockholm
Rules & Regulations - Stockholm
Nasdaq Stockholm (Stockholmsbörsen) is a regulated market licensed in Sweden.
Nasdaq Iceland
Rules & Regulations - Iceland
Nasdaq Iceland (Kauphöll Íslands) is a regulated market licensed in Iceland.