OMX Nordic Exchange to implement non-displayed orders on September 29th, 2008

As earlier communicated OMX Nordic Exchange  will introduce non-displayed orders (i.e. zero iceberg orders) for orders in line with the large in scale criteria (LIS) specified in MiFID. 
Non-displayed orders meeting the LIS criteria will be implemented in Helsinki, Stockholm, Copenhagen and Iceland on September 29th, 2008. In Iceland the implementation is still subject to the Icelandic Financial Supervisory Authority’s approval. 

The All or None (AoN) function will not be implemented in connection of non-displayed orders in this release as earlier communicated. 
Implementation of non-displayed order functionality aims to better facilitate large orders in the order book by reducing market impact and risk of front running. The implementation of non-displayed orders will also offer an alternative to trading outside the market.
Other trading venues in Europe have similar trading functionalities in place. 
The decision to implement non-displayed orders was based on the results of a member consultation, which showed support for the functionality. 
Non-displayed orders will be prioritized after visible orders and ordinary iceberg orders. Please note that the table with ADT values for Icelandic krona (ISK) column five and six has been corrected compared to what was in the earlier noticed.

All current members of OMX Nordic Exchange will have the possibility to utilize the non-displayed orders as follows:
-	In OMX Nordic Exchange Helsinki, this change will affect the main Finnish market (OMX HEL Equities);
-	In OMX Nordic Exchange Stockholm, this change will affect the main Swedish market (OMX STO Equities), First North Sweden (First North STO) and First North Helsinki (First North HEL);
-	In OMX Nordic Exchange Copenhagen, this change will affect the main Danish market (OMX CPH Equities) and First North Denmark (First North); and
-	In OMX Nordic Exchange Iceland, this change will affect the main Icelandic market (OMX ICE Equities, OMX ICE Alternative Market and OMX ICE Fund units) and on First North Iceland.