Email Contact Phone Company Visit Website

Location Office

Kungsgatan 36
Stockholm
SE

NASDAQ OMX New York Head Office

One Liberty Plaza
New York
NY
US

NASDAQ OMX Stockholm Office

Tullvaktsvägen 15
Stockholm
SE

NASDAQ OMX Rockville Office

805 King Farm Boulevard 1st and 2nd floor
Rockville
MD
US

NASDAQ OMX London Office

Woolgate Exchange, 25 Basinghall Street, City of London
London
GB

NASDAQ OMX New York Office

Marketsite 4 Times Square
New York
NY
US

NASDAQ OMX Hong Kong Office

Room 1207-8, 12/F Man Yee Building 68 Des Voeux Road Central Hong Kong
Hong Kong
HK

NASDAQ OMX Singapore Office

20 Collyer Quay, #17-01
Singapore
SG

NASDAQ OMX Chicago Office

One North Wacker Drive Suite 3600
Chicago
IL
US

NASDAQ OMX Belgium Office

Avenue de Cortenbergh 116
Brussels
BE

NASDAQ OMX Dubai Office

Dubai World Trade Centre Sheikh Zayed Road
Dubai
AE

NASDAQ OMX Tokyo Office

1F, Kojimachi Square Building Nibancho, 3 Chiyoda-ku, Tokyo
Tokyo
JP

NASDAQ OMX Boston Office

100 Franklin St
Boston
MA
US

Location Office

Level 17-19, 110 Bishopsgate
London
GB

Telephone

212 231 5018

Contact

Todd A Swearingen
[email protected]
Back to all NASDAQ OMX announcements

Nasdaq Nordic to Launch Auction On Demand

Alternative to Over the Counter trading and designed to meet MiFID II requirements. Available June 7, 2017, on all Nasdaq Nordic Exchanges.

Nasdaq (Nasdaq: NDAQ) announced today that it will launch an innovative new market feature, Auction on Demand, on June 7, 2017.  This service is designed to fulfill MIFID II transparency requirements for the periodic auction trading model, while offering Nasdaq’s trading clients a regulated and highly advanced alternative to Over the Counter and darkpool trading.

Currently, only half of equity trading across Europe is carried on “lit” order books, which allows all traders to see the amount of liquidity posted on each bid and offer. After the implementation of MiFID II regulations in 2018, the majority of equity trading will be required to take place on lit markets.

“Auction on Demand provides a new way of executing large orders, without disrupting the market, in a regulated and transparent trading environment, making Nasdaq Nordic an even more secure and liquid marketplace,” said Henrik Husman, VP of Cash Equities at Nasdaq.

Developed with professional investors in mind, Auction on Demand addresses a broad range of execution challenges for larger orders, runs in parallel to Nasdaq Nordic’s lit order books, and is triggered on-demand.

In the Auction on Demand order book, a seller or buyer may place an order at any time, entering it into a periodic auction. When a matching bid or offer comes in, an auction uncross is triggered, and price and volume are made public. Auctions on Demand take place throughout the day when the lit book is in continuous trading and is triggered on demand, when there are orders that can match.

Auction on Demand is designed to fulfill both MiFID I and MiFID II transparency rules, and offers multiple features to ensure open yet unobtrusive trading. The service comes with a number of safety features, including randomization and minimum execution size.

Testing will begin March 20, 2017, and Auction on Demand will be launched on June 7, 2017. It will be available for all members trading shares on the main markets of Stockholm, Copenhagen, Helsinki and Iceland, via all order entry protocols, and during regular trading hours.

With Auction on Demand, Nasdaq has aimed to incorporate its world leading technology and market knowledge into a service that will help market participants execute both large and small orders in accordance with the new MiFID II regulations. 

Nasdaq (Nasdaq: NDAQ) is a leading provider of trading, clearing, exchange technology, listing, information and public company services across six continents. Through its diverse portfolio of solutions, Nasdaq enables customers to plan, optimize and execute their business vision with confidence, using proven technologies that provide transparency and insight for navigating today's global capital markets. As the creator of the world's first electronic stock market, its technology powers more than 70 marketplaces in 50 countries, and 1 in 10 of the world's securities transactions. Nasdaq is home to more than 3,700 listed companies with a market value of $10.0 trillion and approximately 18,000 corporate clients. 

Nasdaq Copenhagen, Nasdaq Helsinki, Nasdaq Iceland, Nasdaq Riga, Nasdaq Stockholm, Nasdaq Tallinn, Nasdaq Vilnius, Nasdaq Clearing and Nasdaq Broker Services are respectively brand names for the regulated markets of Nasdaq Copenhagen A/S, Nasdaq Helsinki Ltd., Nasdaq Iceland hf., Nasdaq Riga, AS, Nasdaq Stockholm AB, Nasdaq Tallinn AS, AB Nasdaq Vilnius, Nasdaq Clearing AB and Nasdaq Broker Services AB. Nasdaq Nordic represents the common offering by Nasdaq Copenhagen, Nasdaq Helsinki, Nasdaq Iceland and Nasdaq Stockholm. Nasdaq Baltic represents the common offering by Nasdaq Tallinn, Nasdaq Riga and Nasdaq Vilnius.

Source: GlobeNewswire