IT - INET Nordic - Reminder: Post-trade anonymity extends to all Order Book trades in shares on Nasdaq Nordic (61/22)
As communicated in IT Notice 47/22, Nasdaq Copenhagen A/S, Nasdaq Helsinki Ltd and Nasdaq Stockholm AB (Nasdaq Nordic) will extend mandatory post-trade anonymity (PoTA) to Order Book trades in Mid and Small Cap and First North Growth Market shares[1] as of December 1, 2022. Currently, PoTA is applied to Order Book trades in Nasdaq Nordic main index (OMXS30, OMXC25 and OMXH25) and Large Cap shares.
This means that going forward, Member IDs (MPIDs) are not visible in the public trade ticker in share trades executed in Order Book on Nasdaq Nordic.
At the same time, voluntary post-trade anonymity (vPoTA), currently available for Manual Trades in main index and Large Cap shares will extend to Mid and Small Cap and First North shares.
Public member market share statistics containing names and MPIDs of Members continue to be published monthly as currently, with following enhancement:
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Currently, monthly exchange level statistics separate market shares of automatically matched trades (trading via Order Book, Nordic@Mid and Auction On Demand) from total trading. As a new element in statistics, also Manual Trades are separated from total trading and will be added to monthly, year-to-date, and rolling 12-month report in the members’ market share statistics.
Details and Member set-up
Mandatory post-trade anonymity is applied to Order Book trading in shares for all Nasdaq Nordic Members.
For Manual Trades in shares, MPID is displayed as default, unless Member has opted in for voluntary post-trade anonymity.
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Member who has not opted in for vPoTA continues to have its MPID displayed in Manual Trades in all shares. This is the default behaviour and Member who wishes to keep this set-up does not need to take any action.
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Member who has previously opted in for vPoTA continues to have its MPID not displayed also in Manual Trades in Mid and Small Cap and First North shares. Member who wishes to keep this set-up does not need to take any action.
Members who wish to change current set-up for Manual Trades MPID visibility are asked to request the change via Nasdaq Nordic Member Portal.
Implementation details:
Protocol specifications
This change has no impact to INET Nordic protocol specifications.
Genium Condolidated Feed – reference data
Individual Order Book configuration is disseminated in reference data. Shares where PoTA is applied in Order Book trading have numerical value “1” in instrument reference data BD Tradable PostTradeAnonymity (PTb) distributed via the TIP protocol in Genium Consolidated Feed.
Documentation:
INET Nordic Market Model:
Market Model will be updated, effective as of December 1, 2022 and published on Nasdaq Nordic website, under Nordic Member Rules.
Time schedule
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INET Test (NTF) – Available as of October 17, 2022
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INET Production – December 1, 2022
Support
For technical questions, please contact Nasdaq Cash Equity Operations:
Tel: +46 8 405 6410
E-mail: operator@nasdaq.com
Best regards,
Nasdaq Nordic
Nasdaq Nordic
Nasdaq Copenhagen, Nasdaq Helsinki and Nasdaq Stockholm are respectively brand names for Nasdaq Copenhagen A/S, Nasdaq Helsinki Ltd and Nasdaq Stockholm AB. Nasdaq Nordic represents the common offering by Nasdaq Copenhagen, Nasdaq Helsinki and Nasdaq Stockholm.
[1] Including depositary receipts on shares and Cooperative Shares
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