MiFID II Market Making Agreement and Market Making Scheme

The agreement covers instruments on Nasdaq Stockholm, Nasdaq Helsinki, Nasdaq Copenhagen and Nasdaq Iceland (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 MAC@nasdaq.com with a list of instruments selected for market making. The quoting obligations can be found in the Market Making Agreement and can also be requested from Operator@nasdaq.com.

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.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.