Published: 2023-06-16 10:01:31 CEST
Product information

Derivatives: Introduction of Custom Basket Forwards on June 19 (163/23)

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
Basket creation Defined by basket requestor
Universe of stocks ~1.700 European stocks (additional markets will be added)
Basket return type Price-, Gross- or Net return as defined by the requestor
Basket base currency EUR, USD, SEK, DKK, NOK or GBP
Basket composition Public or private
Basket ticker (public) “SB”+”G”/”N”/”P” (Gross/Net/Price) + ”XXX” (basket number or letter code)
Basket ticker (private) “OB”+”G”/”N”/”P” (Gross/Net/Price) + ”XXX” (basket number or letter code)
Basket RIC (Refinitiv) “.” followed by the Basket ticker, e.g. “.SBG001” for a public gross return basket
Corporate actions Standard treatment in accordance with the Custom Baskets Calculation Methodology
Benchmark Administrator Nasdaq Copenhagen A/S
Listing of contracts Upon Request
Contract type Forward contract with cash settlement at expiration
Contract currency Same as basket base currency
Expiration months Quarterly (Mar/ Jun/ Sep/ Dec)
Expiration day The first trading day following the third Friday of the expiration month
Final settlement price The basket closing level, rounded to four decimals, from the Friday prior to the expiration day
Trading mechanism Block trading (i.e. no electronic order book)
Trade price Price with up to four decimal places as agreed by the parties
Contract multiplier 1
Notional value per contract Contract multiplier x Trade price
Instrument name standard Basket ticker followed by expiration year identifier (one digit) and expiration month identifier (O=March, R=June, U=Sept, X=Dec)
CBF website www.nasdaq.com/solutions/custom-basket-forwards


Technical product information

For further technical product information, please see reference to IT-notices below:



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. 


163_CBF Exchange Notice.pdf