OMX Nordic Exchange will implement a change in round lot sizes from June 2, 2008. External system testing in SAXTST1 is possible from March 3, 2008.
Round Lot One at OMX Nordic Exchange
OMX Nordic Exchange aim to further harmonize the Nordic markets and will implement round lot size one on the exchanges in Stockholm and Iceland. Round lot one is already in effect in Helsinki. In Copenhagen the decision pending.
Round lot one will affect the submarkets on the main markets and on First North: Equities, Warrants, Fund units and Equity rights. See table 1 below. Convertibles are excluded from this change. Please note that in Stockholm round lot one has already been implemented on submarket Exchange Traded Funds (ETF), effective from January 2008.
Background
Experience from OMX Nordic Exchange Helsinki, where round lot one was implemented on all equity related markets in 2006, has been very positive. It supports OMX Nordic Exchange’s belief that continued implementation of round lot one will make the Nordic market more efficient.
The first subjects to round lot one in Finland in 2006 were the submarkets: Equities, Covered Warrants & Other, Equity Rights, and Fund Units.
The decision to continue implementing round lot one in Stockholm and Iceland was based on the results from a member consultation and on discussions with investors which showed a clear support for round lot one in Stockholm and Iceland. Discussions are still ongoing in Denmark.
Markets and submarkets
The markets and submarkets presented in table 1 below will be affected by the change in round lot size this time. From March 3 to May 30, 2008 external system testing is available in SAXTST1. Production launch of round lot one will take place on June 2, 2008.
