Nasdaq European Markets sustains its strong position in the SME listings and sustainable debt market in 2023

-- Nasdaq European Markets welcomed 33 listings, including 7 initial public
   offerings (IPOs), raising a total of EUR 431 million risk capital and EUR
   11.6 bn in secondary offerings
 -- Nasdaq celebrated its 130th company to transfer from Nasdaq First North
   Growth Market to Main Market

Stockholm, January 8, 2024 - Nasdaq (Nasdaq: NDAQ) today presented its yearly
statistics for Nasdaq European markets. Despite the uncertainties in the wider
global economy, the Nordic and Baltic regions maintained their position in
capital markets in several key areas, including Sustainable Debt Market and SME
listings. In total, the Nasdaq equity markets in Sweden, Denmark, Finland,
Iceland and the Baltic countries welcomed 33 listings, including 7 initial
public offerings (IPOs), raising a total of EUR 431 million risk capital (2022:
EUR 0.76 bn) and EUR 11.6 bn in secondary offerings (2022: EUR 16.6 bn). With
19 listings, Nasdaq Stockholm also remained one of the most successful listings
venues in Europe in 2023. 

"Our European Market Services team has worked tirelessly to keep driving our
technology leadership, marketplace excellence and strong commitment to
sustainability to create a world class capital market offering for both
companies and investors in times of uncertainty. Nasdaq continues to perform a
crucial role as a vibrant growth engine for northern European capital markets,"
said Roland Chai, President of European Market Services, Nasdaq. 

Nasdaq celebrated its 130th switch from Nasdaq First North Growth Market to
Main Market 

Despite lower numbers in both capital raised and number of listings relative to
previous years, Nasdaq remains the leading European exchange groups in terms of
number of SME listings on its markets over the past years. Since the founding
of Nasdaq First North in 2006, Nasdaq had its 130th company to transfer from
Nasdaq First North Growth Market to Main Market in December 2023. The 130
companies have grown and matured, presenting an average annual growth rate of
43 percent from the first day of trading on First North to the first day of
trading on the Main Market. 

"In the midst of economic headwinds, the market has remained challenging in
2023. Despite that Nasdaq has been able to maintain its position as a leading
listings venue in Europe, especially for SME companies. Nasdaq First North is
the leading SME market not only in terms of bringing companies to the market
but also the evolution of companies over time in driving innovation and growth
supported by both institutional investors and retail investors. We are pleased
to celebrate the 130th switch from First North to our Main Markets," said Adam
Kostyál, Head of European Listings at Nasdaq. 

Continuing to enable sustainable growth

The Nordic and Baltic Sustainable Debt Markets grew by 33% from the previous
year to EUR 63 billion (2022: EUR 47.5 bn) during a period of turbulence and
relatively low activity in overall Nordic debt market. This is a testament to
the ever-growing focus on sustainability amongst investors and companies alike. 

Sweden is the most active sustainable bond market in the Nordic and Baltic
countries and has historically been dominated by issuers from the real estate
sector. In fact, 2023 marks the 10th anniversary of the worlds' first green
corporate bond, which was issued by the Swedish real estate company Vasakronan.
In 2023, new sustainable bond listings grew by 39% in Stockholm, which clearly
shows how the concept of green bonds has become an integral part of the broader
bond market and that the sustainable bond market is more resilient than ever
before. 

"It is pleasing to see that our Nordic and Baltic markets remain focused on
channeling capital towards sustainable projects and assets also in time of
uncertain market. The Nordic and Baltic sustainable bond market is well
positioned to grow even faster in coming years when interest rate levels are
expected to taper off. We look forward to seeing how the market responds to the
new macro environment," said Fredrik Ekström, President of Nasdaq Stockholm and
Head of European Fixed Income. 

In October 2023, Nasdaq launched Custom Basket Forwards. The Custom Basket
Forwards solution meets the increasing market demand for a simpler and more
efficient way of handling equity exposures by utilizing standardized contracts
on the regulated market. Custom Basket Forwards enable investors to create a
Forward contract on a customized equity basket that is defined by return type,
currency, and selected from a European universe of equities, totaling around
1,700+ stocks from 15 countries. 

For more details and milestones on Nasdaq's European market operations in 2023,
please see below. 

About Nasdaq:

Nasdaq (Nasdaq: NDAQ) is a leading global technology company serving corporate
clients, investment managers, banks, brokers, and exchange operators as they
navigate and interact with the global capital markets and the broader financial
system. We aspire to deliver world-leading platforms that improve the
liquidity, transparency, and integrity of the global economy. Our diverse
offering of data, analytics, software, exchange capabilities, and
client-centric services enables clients to optimize and execute their business
vision with confidence. To learn more about the company, technology solutions,
and career opportunities, visit us on LinkedIn, on Twitter @Nasdaq, or at
www.nasdaq.com. 

Nasdaq Media Contact
Maarit Bystedt
tel. [phone]
[e-mail]



SELECTED 2023 EUROPEAN HIGHLIGHTS

LISTINGS

 -- Nasdaq welcomed 33 new equity listings (among them 7 initial public
   offerings), raising a total of EUR 431 million. Furthermore, 10 companies
   switched from Nasdaq First North Growth Market to Nasdaq Main Market. A
   total of 1,218 companies are currently listed at Nasdaq in Europe of which
   687 on Main Market and 531 on Nasdaq First North Growth Market.
 -- Market by market, Nasdaq Stockholm had 19 listings, Nasdaq Iceland 5
   listings, Nasdaq Copenhagen 3 listings, Nasdaq Helsinki 3 listings, Nasdaq
   Tallinn 2 listings and Nasdaq Riga 1 listing.

TRADING

 -- Nasdaq saw trading volumes decrease in 2023, with share trading decreasing
   by 17% to a daily average of EUR 2.9 billion (2022: 3.6 bn) across all
   markets.
 -- Nasdaq maintained a market share of 71% (2022: 71%) of lit and auction
   trading in its listed shares, while continuing to reinforce its leadership
   in the Nordic derivatives market, including Norway, where Nasdaq has a
   achieved a 82% market share in single stock options.

SUSTAINABILITY

 -- The Nordic & Baltic sustainable debt markets grew to EUR 63 billion by
   the end of 2023 (2022: EUR 47.5 bn)
 -- Nasdaq majority-owned Puro.earth, the world's leading crediting platform
   for engineered carbon removal, issued 128,301 CORCs with durability of more
   than 100 years. Since Puro.earth was founded in 2019, its supplier partners
   have durably removed nearly half a million metric tons of CO2 from the
   atmosphere.

PRODUCTS & PARTNERSHIPS

 -- Nasdaq Clearing is about to open up for clearing of Interest Rate Swaps
   (IRS) in EUR, DKK and NOK, in addition to the existing clearing of IRS in
   SEK. Furthermore, the initiative from the Swedish Central Bank (Riksbanken)
   offering central clearing parties deposit and lending facilities provides
   resistance to the clearing market.
 -- Nasdaq has launched Custom Basket Forwards - an innovative derivative
   product addressing the rising demand for a simpler and more efficient way
   of handling tailored equity exposures. Nasdaq Custom Basket Forwards offer
   a cost-efficient alternative, combining bespoke elements with the benefits
   of central counterparty clearing and trading on a regulated market. With
   the launch of Custom Baskets Forwards more clients are given access to a
   simple and efficient solution for ex. ESG & climate investments,
   thematic investing, ETF replications, tailor-made indexes, and equity
   financing.
 -- In November, Nasdaq launched a pioneering new technology that securely
   digitizes the issuance, settlement, and custody of carbon credits. It will
   be provided to market infrastructures, registry platforms, and other
   service providers globally. Alongside the launch of the service, Nasdaq
   announced a new technology partnership with Nasdaq majority-owned
   Puro.earth, a world-leading standards and registry platform for engineered
   carbon removal, to register CO2 Removal Certificates, or CORCs. The
   registry tracks the issuance, retirement, and the transfer of the assets,
   providing full traceability and transparency to avoid double counting
   carbon removal projects.

RETAIL ENGAGEMENT

 -- Nasdaq's role as an exchange is to promote public markets and help educate
   investors of all sizes, which we do through our financial literacy
   initiative. Together with more than 20 partnerships and organizations we
   seek to promote our common purpose of financial progress for all. In 2023,
   we have driven more than 70 events with our partner organizations and
   educated thousands of investors across our asset class portfolio.
 -- Nasdaq Derivatives Academy was launched in the Nordics to increase
   knowledge of equity derivatives and since its start more than 2,800 private
   investors and 200 professionals have signed up for the program. In November
   2023, the education program was expanded to include Nasdaq Clearing
   Essentials which is specifically dedicated to professionals working in
   back-office roles.