Nasdaq Nordic introduced June 7, 2017 a new trading model, Auction On Demand
(AOD), for all shares and some other instruments traded on Nasdaq Stockholm,
Nasdaq Copenhagen, Nasdaq Helsinki and Nasdaq Iceland.
Based on new regulation Nasdaq Nordic will implement the following price
validations on orders sent to AOD:
· Limit Orders - Only on-tick prices on Orders allowed. Limit Orders can
match on-tick or off-tick at midpoint.
· Mid-point pegged Orders. Any Limit guard price allowed, including
off-tick. They can match on-tick or off-tick at midpoint.
More information about AOD can be found here:
No updates to INET protocol specifications.
Legal and Market Model
The next INET Nordic Market Model will be updated reflecting the changes.
· INET Test (NTF), GCF TST4 - Currently in test,
· INET MiFID II Test - Currently in test,
· INET Production - From 2017-10-17 and completed 2017-10-23 (phased rollout).
Members can test out the functionality in the INET Test (NTF)/GCF TST4 and INET
MiFID II Test environments.
For technical questions, please contact Nasdaq Cash Equity Operations:
Tel: +46 8 405 6410,
Nasdaq Nordic represents the common offering by Nasdaq Copenhagen, Nasdaq
Helsinki, Nasdaq Iceland and Nasdaq Stockholm. Nasdaq Copenhagen, Nasdaq
Helsinki, Nasdaq Iceland and Nasdaq Stockholm are respectively brand names for
Nasdaq Copenhagen A/S, Nasdaq Helsinki Ltd, Nasdaq Iceland hf. and Nasdaq