Market Making

    Nasdaq Nordic

    MiFID II Market Making Agreement and Market Making Scheme


     

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    Nasdaq Nordic offers a Market Making Agreement for members and participants acting as Market Maker as defined in MiFID II

    The agreement covers instruments on Nasdaq Stockholm, Nasdaq Helsinki and Nasdaq Copenhagen (including First North market segments) traded in INET. The Market Maker’s quoting obligations are described in the agreement and are tracked on a daily basis by Nasdaq Nordic. 

    The ETF LP Programme has been incorporated into the MiFID II Market Making Agreement. An LPS account needs to be used for the purpose of market making in ETFs. 

    When a member acting as a Market Maker wishes to enter into the Market Making Agreement, the signed agreement should be sent to Operator@nasdaq.com with a list of instruments selected for market making. The quoting obligations can be found in the Market Making Agreement and will be made available on Member Portal. 

    A component of the Market Making agreement is the Market Making Scheme offered for liquid shares and ETFs. The spread obligations for the Market Maker in liquid instruments are doubled during Stressed Market Conditions.

    Market Makers Who Fulfilled Market Making Obligations Under Stressed Market Conditions for August 2023

    Date Mic Symbol Isin Participant Name
    8/3/23 XHEL QTCOM FI4000198031 XTX Markets SAS
    8/8/23 XCSE NOVO B DK0060534915 Citadel Securities GCS (Ireland) Limited
    8/8/23 XCSE NOVO B DK0060534915 Optiver VOF
    8/18/23 XSTO HTRO SE0018040677 Citadel Securities GCS (Ireland) Limited
    8/22/23 XSTO BICO SE0013647385 XTX Markets SAS
    8/30/23 XCSE ORSTED DK0060094928 BNP Paribas Arbitrage SNC
    8/30/23 XCSE ORSTED DK0060094928 Citadel Securities GCS (Ireland) Limited
    8/30/23 XCSE ORSTED DK0060094928 HRTEU Limited
    8/30/23 XCSE ORSTED DK0060094928 Optiver VOF
    8/30/23 XCSE ORSTED DK0060094928 XTX Markets SAS
    8/31/23 XCSE AMBU B DK0060946788 Citadel Securities GCS (Ireland) Limited
    8/31/23 XCSE AMBU B DK0060946788 Citadel Securities GCS (Ireland) Limited
    8/31/23 XCSE AMBU B DK0060946788 XTX Markets SAS

    Date Mic Symbol Isin Participant Name
    8/3/23 XHEL QTCOM FI4000198031 XTX Markets SAS
    8/8/23 XCSE NOVO B DK0060534915 Citadel Securities GCS (Ireland) Limited
    8/8/23 XCSE NOVO B DK0060534915 Optiver VOF
    8/18/23 XSTO HTRO SE0018040677 Citadel Securities GCS (Ireland) Limited
    8/22/23 XSTO BICO SE0013647385 XTX Markets SAS
    8/30/23 XCSE ORSTED DK0060094928 BNP Paribas Arbitrage SNC
    8/30/23 XCSE ORSTED DK0060094928 Citadel Securities GCS (Ireland) Limited
    8/30/23 XCSE ORSTED DK0060094928 HRTEU Limited
    8/30/23 XCSE ORSTED DK0060094928 Optiver VOF
    8/30/23 XCSE ORSTED DK0060094928 XTX Markets SAS
    8/31/23 XCSE AMBU B DK0060946788 Citadel Securities GCS (Ireland) Limited
    8/31/23 XCSE AMBU B DK0060946788 Citadel Securities GCS (Ireland) Limited
    8/31/23 XCSE AMBU B DK0060946788 XTX Markets SAS

    Contact our European Equity Sales teams.

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