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Back to all NASDAQ OMX announcements

NASDAQ OMX Nordic Launches Intraday Auctions to Improve Liquidity in SME Shares

NASDAQ OMX (NASDAQ: NDAQ) today announces the introduction of a scheduled intraday auction on certain market segments in Denmark, Finland and Sweden. The aim of introducing this is to improve liquidity in less traded shares, thereby contributing to SME funding and growth.

”The large majority of new jobs are created in SMEs”, said Lauri Rosendahl, Head of Equity and Derivatives Market at NASDAQ OMX Nordic. “As a part of our effort to improve the IPO climate and SME growth, we are now introducing a scheduled intraday auction to concentrate focus and liquidity in less liquid SME shares. Despite growing turnover in Large, Mid and Small Cap segments, low liquidity in some SME companies remains a point of concern for the market.”

At NASDAQ OMX Nordic, turnover in opening and closing auctions has tripled since 2007. The opening and closing auctions in the NASDAQ OMX Nordic markets accounted for 12.2 percent of the daily turnover in October 2013 compared to 3.8 percent in January 2007.

”By leveraging this strong trend in the market we are creating a new liquidity window where investors are more likely to have their orders in less traded shares executed”, said Lauri Rosendahl.

The scheduled intraday auction will be introduced on December 9th and will run every bank day in the trading calendar from 1.30 to 1.35 pm CET and follow existing functionality for opening and closing auctions.

Segments included in the new Intraday Auction are:

  • Denmark: Mid Cap shares that are not CCP cleared, Small Cap shares, First North
  • Finland: Mid Cap shares, Small Cap shares, First North
  • Sweden: Small Cap shares.