NOREX Member Rules governs Exchange Members trading on the Nordic equity and the bond markets on the common cross-border trading system Saxess.
NOREX Member Rules in English version will be available from mid September 2001 on www.norex.com and the Danish version is expected to be on www.fondsborsen.dk at 1 October 2001 at latest.
Amendments
The harmonisation has taken place based on the four NOREX exchanges' present agreements and rules.
The harmonisation has first of all resulted in a changed structure of the member rules. In addition, a number of minor changes in language and terminology have been made. Furthermore, it is worth paying attention to the information which can be found in the appendices to the NOREX Member Rules, which contain information relevant to the membership and the trading on the NOREX exchanges - e.g. Exchange hours, fee lists, tick size tables, primarily functionality in the SAXESS trading system.
The main changes in the NOREX Member Rules as of 1. October 2001:
- Trading lots have been changed to market values of approximately DKK 20,000 and DKK 10,000. The present trading sizes are DKK 20,000, DKK 10,000 and DKK 5,000 respectively.
- Off exchange trades must be effected at a price on or within the spread in the concerned order book in SAXESS when the transaction involves 250 round lots or less. Today the Rule only applies to immediate transactions of up to DKK 400,000 in market value for transactions on the equity market cf. Rules of Ethics.
- All trades in stocks, which are reported to the Exchange will be published with id of the members who have been part in the transaction. Today, member-ids are not published for transactions of 100 trading lots or more.
