IT – Implementation of Round Lot One at OMX Nordic Exchange Copenhagen (56/08)


Round Lot One at OMX Nordic Exchange Copenhagen

OMX Nordic Exchange will harmonize the Nordic markets further by implementing round lot size one in Copenhagen, commencing September 29, 2008. Round lot one is already in effect in Helsinki and Iceland, and will be in Stockholm on September 29. By implementing round lot one liquidity and access to trading for individual investors will improve.

System test in SAXTST1 will be available from July 7, 2008.

This change will affect the following submarkets on the main market and on First North: Equities, Warrants, Fund units and Equity rights. Convertibles are excluded from this change. Round lot one has already been implemented on submarket Exchange Traded Funds (ETF) in Stockholm, effective from January 2008.

Experience from OMX Nordic Exchange Helsinki, where round lot one was implemented on all equity related markets in 2006, has been positive by bringing along upswing in trading and strengthened price competition. It has increased both turnover and liquidity in the order books and also made the relative spreads narrower.

The decision to implement round lot one was based on the results from a member consultation and on discussions with investors which showed a clear support for round lot one. 

This change is in harmony with the industry's best practice. The largest exchanges in Europe have round lot one today.

For further information concerning this exchange notice please contact:

Kristina Gahne, NASDAQ OMX 
Project Manager 
Transaction Services Nordics 
Equities Markets 
+46 8 405 67 62 
kristina.gahne@nasdaqomx.com

Mattias Hammarqvist, NASDAQ OMX 
Transaction Services Nordics 
Equities Markets 
+44 207 065 8147
mattias.hammarqvist@nasdaqomx.com 

Technical contacts and further information concerning system testing: 

Erik Hennix, +46 8 405 6966, erik.hennix@nasdaqomx.com
Sani Nevalainen, +358 9 6166 7683, sani.nevalainen@nasdaqomx.com 
Mattias Eriksson, +46 8 405 6530, mattias.eriksson@nasdaqomx.com
Ville Salo, +358 9 6166 7768, ville.salo@nasdaqomx.com


Attachments

wkr0003.pdf