Rules & Regulations -

First North MTF Rules



First North is a Multilateral Trading Facility (MTF) as defined in the Markets in the Financial Instruments Directive (MiFID), regulating securities companies and exchanges in the European Union. Issuers on First North MTF are subject to the rules of different segments of First North MTF but not the requirements for admission to trading on a regulated market. 

The rules of the different segments are the same in all local First North markets, except for a few, smaller differences due to national law. The equity segment, Nasdaq First North Growth Market is a registered SME growth market as defined in EU legislation (as implemented in national law).

Please note that as of 1 September 2019, the equity segment of Nasdaq First North MTF in Sweden, Finland and Denmark is registered as SME Growth Market and referred to as Nasdaq First North Growth Market.

First North

Local Rules

Common Rules

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