Nordic Fund Market

easy access to mutual funds on a modern, efficient platform

This Solution Helps

  • Banks & Brokers
  • Insurance Companies
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Technology and knowledge to improve the fund market

The Nordic Fund Market enables fund distributors and companies to decrease transaction costs and reduce operational risk.

Manage Mutual Fund Orders, Settlement and Retrocession with Ease

The Nordic Fund Market is an electronic mutual fund service that enables straight through processing of orders and settlements, plus retrocession management. The service enables the fund distributors to access a broad choice of mutual funds through one single interface. There are presently 200 connected fund companies with more than 5000 mutual funds available on the Nasdaq platform. The connected fund companies are domiciled both in Sweden and abroad.

Among the customers at the Nordic Fund Market are retail Banks, Insurance companies, Wealth managers and Robo-Advisors. The service currently covers Sweden, Norway and Finland.

Nordic Fund Market full service

Nordic Fund Market Services for Fund Companies

Fund Companies with funds available on Nordic Fund Market receive orders from many distributors through one single connection. The service aggregates the orders sent from the fund distributors to the fund companies, hence, there are less orders to handle which enables more efficient operations. Although the Nordic Fund Market aggregates orders, the service offers full transparency regarding holdings on a distributor level.

Full Remuneration to Fund Distributors

The Nordic Fund Market is fully transparent with remuneration levels agreed between the Nordic Fund Market and the fund companies, and do not benefit from the remunerations paid out. The remunerations are sent in full to the distributors connected to the service.

Registering Funds on Nordic Fund Market

Funds can be registered on the platform through a distribution agreement between Nasdaq and the fund company.

Mutual funds that are registered on the platform must be registered for sale in Sweden.

How to Connect

Nasdaq provides all necessary communication interfaces in order to allow Straight Through Processing in every single step of the order management flow. We offer a range of services in order to ensure flexibility for our customers.

Order management message format:

  • SWIFT ISO 20022
     

Holdings reporting message format:

  • SWIFT ISO 15022
     

Transport protocols:

  • SWIFT Net
  • S-FTP
  • FTP over VPN
     

Webservices:

  • Nasdaq offers systems integration services to implement end-to-end STP flows.

Recent Announcement About Changes in Ownership

Nasdaq recently announced the divestment of Nordic Fund Market business to Allfunds Bank, one of the world’s leading distributors of mutual funds.

Since its launch in 2010, Nasdaq has developed Nordic Fund Market into one of the leading mutual fund services in the Nordic region. Today, Nordic Fund Market connects around 200 connected fund companies with more than 5,000 mutual funds through one single interface. 

By leveraging Nasdaq’s knowledge and technology, we have grown this business, while providing customers with lower transaction costs and reduced operational risk. Nasdaq is confident that the Nordic Fund Market, under its new ownership, will be able to further enhance its value proposition to its clients, as well as the broader Nordic fund market. 

Allfunds Bank press release

Key Benefits

Lower Costs

Access to an efficient infrastructure for automated processing for fund orders, payments, FX and reconciliation to minimize the time spent on administration.

Lower Risk

Automated order flow minimizes the risk of human errors in transaction processing.

Access to 5,000 Mutual Funds

The Nordic Fund Market gives access to 5,000 mutual funds from 200 fund companies through one single interface.

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