NASDAQ OMX Nordic, part of the NASDAQ OMX Group, Inc, today announces that it will extend the European harmonized tick sizes to cover all Nordic Large Cap shares traded on NASDAQ OMX Nordic exchanges in Stockholm, Helsinki and Copenhagen as of June 7, 2010. The decision to implement the European tick sizes for all Swedish, Finnish and Danish Large Cap shares was taken in co-operation with the Nordic Securities Dealers' Associations and the Association for Financial Markets in Europe.
The harmonized European tick size regime was first implemented at NASDAQ OMX Nordic for the constituents of the main Nordic tradable indices (OMXS30, OMXH25 and OMXC20) by NASDAQ OMX Stockholm on October 26, 2009, followed by the Helsinki and Copenhagen exchanges on January 4, 2010.
The harmonization of tick sizes (the smallest possible change in share price) aims at minimizing implicit transaction costs when trading with Nordic equities and increasing liquidity on the Nordic markets. NASDAQ OMX Nordic implements new tick size tables in accordance with the agreement reached by the Federation of European Exchanges, the London Investment Banking Association and a number of European MTFs in July 2009. The aim of the agreement is to harmonize the tick size regimes in Europe and thus deliver multiple benefits to the markets, users and investors by simplifying the complexity and number of regimes being used.
NASDAQ OMX Nordic's tick sizes for Large Cap shares in Stockholm, Helsinki and Copenhagen as of June 7, 2010*
-------------------------------------------------------------------------------- | Share price SEK/EUR/DKK | Tick size SEK/EUR/DKK | -------------------------------------------------------------------------------- | 0 - 0,4999 | 0,0001 | -------------------------------------------------------------------------------- | 0,5 - 0,9995 | 0,0005 | -------------------------------------------------------------------------------- | 1 - 4,999 | 0,001 | -------------------------------------------------------------------------------- | 5 - 9,995 | 0,005 | -------------------------------------------------------------------------------- | 10 - 49,99 | 0,01 | -------------------------------------------------------------------------------- | 50 - 99,95 | 0,05 | -------------------------------------------------------------------------------- | 100 - 499,9 | 0,1 | -------------------------------------------------------------------------------- | 500 - 999,5 | 0,5 | -------------------------------------------------------------------------------- | 1000 - 4999 | 1 | -------------------------------------------------------------------------------- | 5000 - 9990 | 5 | -------------------------------------------------------------------------------- | 10000- | 10 | --------------------------------------------------------------------------------*For other shares, the current tick size regime of each market will continue to apply
