Nasdaq (Nasdaq:NDAQ) today publishes monthly trade statistics for the Nordic1 and Baltic2 markets. Below follows a summary of the statistics for November 2025:
The share trading increased by 11.7% to a daily average of 3.319bn EUR, compared to 2.972bn EUR in November 2024. Compared to the previous month, October 2025, the daily average increased by 6.0%.
Cleared derivatives volume decreased by 0.5% to a daily average of 279,417 contracts, compared with 280,784 contracts in November 2024.
ETP trading3 (Exchange Traded Products) decreased by 3.7% to a daily average of 42.5m EUR compared to 44.2m EUR in November 2024.
Novo Nordisk A/S was the most traded stock per day during the past month, followed by Investor AB.
Goldman Sachs Bank Europe SE was the most active member during the past month, followed by Morgan Stanley Europe SE.
Nasdaq Nordic’s share of order-book trading in our listed stocks increased to 74.2%, compared to 72.7% in the previous month4.
The average order book depth at the best price level was larger at Nasdaq Nordic than the second most liquid trading venue, see detailed figures per exchange:
For OMXC25 companies 1.9 larger
For OMXH25 companies 2.0 larger
For OMXS30 companies 2.6 larger
Nasdaq Nordic’s average time at EBBO5 (European Best Bid and Offer) was:
For OMXC25 companies 73.6% (-1.4% from October)
For OMXH25 companies 83.9% (3.7% from October)
For OMXS30 companies 84.2% (-1.6% from October)
1) Nasdaq Copenhagen, Helsinki, Iceland and Stockholm
2) Nasdaq Riga, Tallinn and Vilnius.
3) ETP trading (ETF, ETN, ETC, AIF) figures includes Nasdaq Copenhagen, Helsinki, Iceland and Stockholm.
4) Included are the main European marketplaces that offer trading in Nasdaq Nordic listed shares. Source: BMLL
5) EBBO (European Best Bid and Offer) refers to the current best price available for selling or buying a trading instrument such as a stock. Source: BMLL
