The OMX Nordic Exchange is preparing the technical readiness to launch a new submarket for certificates. Today Swedish certificates are traded on the submarket OMX STO Warrants & Certificates and Finnish certificates are traded on the submarket called ‘OMX HEL Covered Warrants Other’. OMX Nordic Exchange will now move the certificates from the warrants submarkets to new submarkets. The reason is that they are different products from warrants; certificates are long-term investment products and warrants are more of a speculation product.
There will be four types of changes of the current set-up for warrants:
1. The current warrants submarket names will be changed
2. The submarket list called ‘Certificates’ will be removed from the warrants submarkets and moved to the new certificates submarkets
3. The current warrants turnover lists names will be changed
4. The list heading of ‘Certificates’ will be removed from current turnover lists of warrants and moved to the new certificates turnover lists
The new submarkets, OMX STO Certificates and OMX HEL Certificates, will have the same market model as the current submarkets for warrants; the Swedish Certificates will have same set-up as Swedish warrants and the Finnish Certificates will have same set-up as Finnish warrants. There will also be new turnover lists for certificates.
As of Tuesday, February 12, two new submarkets, OMX STO Certificates and OMX HEL Certificates, along with the other changes, will be available for testing in current release of SAXESS; SAXTST3.
