As previously communicated (IT-Notice 32/18), Nasdaq Helsinki Ltd transfers the existing Equity Warrants from Nasdaq Helsinki Regulated Market to First North Finland, a multilateral trading facility (MTF) operated by Nasdaq Helsinki. The transfer is planned to take place on July 2, 2018, when the applicable First North issuer rules enter into force. The transfer is subject to delisting and listing decisions by Nasdaq Helsinki.
Background
Regulation (EU) no. 600/2014 on Markets in Financial Instruments (MiFIR) has introduced, under Article 29, a clearing obligation for derivatives traded on a regulated market by requiring the market operator to ensure that all derivative transactions concluded on the regulated market are cleared by a CCP. The Equity Warrant instruments currently traded on the Nasdaq Helsinki’s regulated market are classified as Securitized Derivatives under MiFID II, and are therefore subject to CCP clearing requirement. MTFs do not fall within the scope of Article 29 of MiFIR.
Details
The six instruments impacted by the transfer on July 2, 2018 are listed below. These instruments will be traded last time on Nasdaq Helsinki regulated market (INET market segment / seq.no: OMX HEL Equity rights/ 63) on Friday June 29, 2018. Trading of these instruments will continue on First North Finland (INET market segment/ seq.no: First North Finland/ 110) on Monday July 2, 2018.
GCF/TIP identifiers for market segment First North Finland:
- IdCode = "146"
- INET SourceId = "110"
- Name = "First North Finland"
- Symbol = "SEMM FN HEL"
There are no changes to the INET identifiers of these instruments. Tick size table as well as the various parameters (e.g. parameters for pre-trade control mechanism) for these instruments remain unchanged.
Trading venue MIC code for trades executed in these instruments as of July 2, 2018 will be FNFI.
There are no changes in the settlement of the trades in these instruments.
| ISIN | Instrument Name | Symbol | Order Book ID |
| FI4000071451 | CapMan 2013B Stock options | CPMBVEW213 | 136861 |
| FI4000243605 | Kone 2015 Option rights | KNEBVEW115 | 135884 |
| FI4000261037 | Revenio 2015 A Optio | REG1VEW115 | 138828 |
| FI4000104971 | Nokian Renkaat 2013C | NRE1VEW313 | 136860 |
| FI4000153333 | eQ optio-oikeudet 2010 | EQV1VEW110 | 108862 |
| FI4000071469 | CapMan Oyj 2013C options right | CPMBVEW313 | 154542 |
Opening Hours and Trading Schedule
Instruments will be traded in accordance with First North Finland trading hours, including scheduled intra-day auction between 14:30 and 14:35 local Helsinki time.
Turnover Lists and List Populations
Currently, the impacted instruments are included in Turnover List “HEXIM HELSINKI EQUITY RIGHTS” (INET id 58549) with the List Population “OPTION RIGHTS” (INET id 58550).
Turnover of the impacted instruments will be moved to the First North Finland turnover:
A new List Population with name “First North Finland Equity Warrants” will be created and the impacted instruments will be included. This new List population will be connected to existing Turnover list “First North Finland”, (INET id 82837, code “FNEU”). INET and GCF/TIP identifiers for the new List Population will be provided later.
New List Population details:
| List Population name | INET id | GCF/TIP id |
| First North Finland Equity Warrants | 123686 | 14574 |
Market access
Members trading in Helsinki Equity Warrants today that do not have access to First North Finland are required to be activated in order to trade these instruments after the transfer to First North Finland. The members, who do not have an access to First North but are members of the Nasdaq Helsinki regulated markets, are asked to submit a form indicating the First North Market Segments to be activated. For more information regarding the activation procedure, please contact Nasdaq Cash Equity Operations at operator@nasdaq.com.
Protocol specifications
This change has no impact to protocol specifications.
Implementation schedule
Instrument transfer is subject to delisting and listing decisions by Nasdaq Helsinki. Nasdaq Helsinki will confirm these separately via Exchange Notice by June 28, 2018.
- Last trading day on Nasdaq Helsinki (INET market segment / seq.no: OMX HEL Equity rights/ 63) on Friday June 29, 2018.
- First trading day on First North Finland (INET market segment/ seq.no: First North Finland/ 110) on Monday July 2, 2018.
INET and GCF schedule for new List population
INET time schedule
- INET Test (NTF) and GCF TST4 – May 28, 2018.
- INET Production and GCF Production – July 2, 2018
Flush of GTC orders
All Good-Till-Cancel (GTC) orders on the impacted instruments will be removed (flushed) during Post-Trading Phase on Friday June 29, 2018.
INET Nordic Market Model
Market Model will be updated and will be effective as of June 18, 2018.
Questions and feedback
For further information and feedback concerning this information, please contact: Marja Hyttinen, tel. +358 9 6166 7272, marja.hyttinen@nasdaq.com.
Support
For technical questions, please contact Nasdaq Cash Equity Operations:
Tel: +46 8 405 6410
E-mail: operator@nasdaq.com
Best regards,
Nasdaq Helsinki Ltd
