On Monday, November 15, 2010, NASDAQ OMX Nordic introduces Nordic@Mid, a non-displayed execution service or “Dark Pool” for the regulated cash equity markets in Stockholm, Copenhagen, Helsinki and Iceland.
Why is NASDAQ OMX Nordic launching Nordic@Mid?
“With Nordic@Mid, institutional investors are now able to execute large block trades efficiently and market neutrally on NASDAQ OMX Nordic exchanges, which are by far the biggest Nordic liquidity pool. Further improving liquidity on our regulated, well-surveyed markets and our state-of-art trading platform benefits all market participants and investors alike”, said Hans-Ole Jochumsen, President of NASDAQ OMX Nordic.
How does Nordic@Mid work?
Nordic@Mid offers a unique possibility to execute large orders anonymously and market neutrally. Trading members and investors are able to minimize trading and counterparty search costs while ensuring transparency concerning price determination.
Nordic@Mid offers
- A separate continuous crossing of non-displayed orders where orders are always matched at midpoint of prevailing reference price (best bid and offer).
- Real-time post trade transparency, including member identification, via public NASDAQ OMX feed, flagged as Nordic@Mid execution
- Nordic@Mid uses the same INET technology as the displayed central order books, but has a separate, publicly disclosed matching algorithm
- Regulated market with NASDAQ OMX Nordic Trading surveillance
- A minimum order size criteria and an optional minimum acceptable quantity (MAQ) and limit price are available to limit or avoid partial executions and as a price cap or floor.
For more information about Nordic@Mid, please click here.
