On June 14, 2023, Nasdaq Clearing AB received the necessary regulatory
approvals for Custom Basket Forwards (CBF). Following the regulatory approval,
the trading and clearing systems will be ready to support CBFs as of June 19,
2023.
Members wishing to gain access to CBF need to sign a Close Out Provider
Agreement as well as a Service agreement and request access to the relevant
market segment.
CBF is a new equity derivatives product that enables investors to create a cash
settled forward contract on a customized equity basket selected from a broad
stock universe.
Product information
Underlying Bespoke stock basket
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Basket Defined by basket requestor
creation
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Universe of ~1.700 European stocks (additional markets will be added)
stocks
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Basket return Price-, Gross- or Net return as defined by the requestor
type
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Basket base EUR, USD, SEK, DKK, NOK or GBP
currency
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Basket Public or private
composition
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Basket ticker "SB"+"G"/"N"/"P" (Gross/Net/Price) + "XXX" (basket number or
(public) letter code)
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Basket ticker "OB"+"G"/"N"/"P" (Gross/Net/Price) + "XXX" (basket number or
(private) letter code)
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Basket RIC "." followed by the Basket ticker, e.g. ".SBG001" for a public
(Refinitiv) gross return basket
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Corporate Standard treatment in accordance with the Custom Baskets
actions Calculation Methodology
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Benchmark Nasdaq Copenhagen A/S
Administrator
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Listing of Upon Request
contracts
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Contract type Forward contract with cash settlement at expiration
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Contract Same as basket base currency
currency
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Expiration Quarterly (Mar/ Jun/ Sep/ Dec)
months
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Expiration day The first trading day following the third Friday of the
expiration month
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Final The basket closing level, rounded to four decimals, from the
settlement Friday prior to the expiration day
price
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Trading Block trading (i.e. no electronic order book)
mechanism
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Trade price Price with up to four decimal places as agreed by the parties
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Contract 1
multiplier
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Notional value Contract multiplier x Trade price
per contract
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Instrument Basket ticker followed by expiration year identifier (one digit)
name standard and expiration month identifier (O=March, R=June, U=Sept,
X=Dec)
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CBF website www.nasdaq.com/solutions/custom-basket-forwards
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Technical product information
For further technical product information, please see reference to IT-notices
below:
https://view.news.eu.nasdaq.com/view?id=b558f61582dc01e8389b5084e9b5bd80c&lang=e
n&src=notices
Member testing
CBFs are available for trading in EqD Test and are cleared in External test
system 1 (EXT1).
For contact details please see attached file.
Attachment:
https://cns.omxgroup.com/cds/DisclosureAttachmentServlet?messageAttachmentId=1150435© 2023 GlobeNewswire
