Market Making

    Nasdaq Nordic

    MiFID II Market Making Agreement and Market Making Scheme


     

    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, 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.

    Market Makers Who fulfilled Market Making Obligations Under Stressed Market Conditions for May 2024

    Date MIC Symbol ISIN Participant Name
    2024-05-03 XCSE ROCK B DK0010219153 Citadel Securities GCS (Ireland) Limited
    2024-05-03 XCSE ROCK B DK0010219153 HRTEU Limited
    2024-05-03 XCSE ROCK B DK0010219153 XTX Markets SAS
    2024-05-03 XSTO HTRO SE0018040677 Citadel Securities GCS (Ireland) Limited
    2024-05-06 XSTO SINCH SE0016101844 Jane Street Netherlands B.V.
    2024-05-06 XSTO SINCH SE0016101844 Optiver VOF
    2024-05-06 XSTO SINCH SE0016101844 Société Générale S.A.
    2024-05-06 XSTO SINCH SE0016101844 XTX Markets SAS
    2024-05-08 XCSE BAVA DK0015998017 Citadel Securities GCS (Ireland) Limited
    2024-05-08 XCSE BAVA DK0015998017 Jane Street Netherlands B.V.
    2024-05-08 XCSE BAVA DK0015998017 Optiver VOF
    2024-05-08 XCSE BAVA DK0015998017 Société Générale S.A.
    2024-05-08 XCSE BAVA DK0015998017 XTX Markets SAS
    2024-05-14 XSTO BHG SE0010948588 Citadel Securities GCS (Ireland) Limited
    2024-05-16 XSTO NIBE B SE0015988019 Citadel Securities GCS (Ireland) Limited
    2024-05-16 XSTO NIBE B SE0015988019 Société Générale S.A.
    2024-05-16 XSTO NIBE B SE0015988019 XTX Markets SAS
    2024-05-23 XSTO CALTX SE0010441584 Optiver VOF
    2024-05-24 XSTO HEM SE0015671995 XTX Markets SAS
    2024-05-30 XHEL YIT FI0009800643 Citadel Securities GCS (Ireland) Limited
    2024-05-30 XHEL YIT FI0009800643 HRTEU Limited
    2024-05-30 XHEL YIT FI0009800643 Jane Street Netherlands B.V.
    2024-05-30 XSTO INTRUM SE0000936478 Citadel Securities GCS (Ireland) Limited
    2024-05-30 XSTO INTRUM SE0000936478 XTX Markets SAS

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

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