IT - INET Production - REMINDER - Volatility Guards introduced on main equity markets in STO, HEL, CPH (143/10)


As of Sept 30, NASDAQOMX will launch volatility guards on the main markets in
Stockholm, Helsinki, and Copenhagen. 

On September 27, volatility guards were successfully introduced in Iceland, the
Baltics, and all First North markets. Sept 30 is the production launch for the
rest of the shares and ETFs. Also see IT Notice 133/10. 


The following configuration will be applied:

Liquidity band	Dynamic	Static
Index Shares (OMXS30/OMXH25/OMXC20)	3%	10%
Other Shares or ETFs	5%	15%
First North or Liquidity Group C or spread <=3%	10%	15%
Penny shares:		
0.25-5 (SEK, DKK), 0.025-0.5 (EUR)	25%	50%
0.1-0.25 (SEK,DKK), 0.01-0.025 (EUR)	40%	75%
0.05-0.1 (SEK,DKK), 0.005-0.01 (EUR)	50%	100%
0-0.05 (SEK,DKK), 0.0-0.005 (EUR)	100%	200%
Baltic and Icelandic markets:		
Baltic shares 	10%	15%
Icelandic shares	10%	N/A
	5% MARL, OSSR	N/A

Length of auctions:
Configuration item:	Duration:
Auction triggered by breach of Dynamic volatility guard	60 sec
Auction triggered by breach of Static volatility guard	180 sec
Period before closing auction no volatility guard will be triggered	240 sec

The full configuration for volatility guards has been available for testing in
INET Nordic OTF since Sept 6. 

A complete list of markets and their launch date for volatility guards is
attached to this IT Notice. 

Reference data specifying the thresholds for the individual stock will be
disseminated via the real time message OrderbookReferencePrice via GCF.  More
info on this was published in IT Notice 127/10. 

The updated Market Model for INET Nordic applicable from September 27 is
available on the member website. Link to latest Market Model. 

The Guidelines for cancellation of trades based on NASDAQ OMX Nordic Member
Rules section 5.7.3 applicable to NASDAQ OMX Stockholm, NASDAQ OMX Helsinki,
NASDAQ OMX Copenhagen and NASDAQ OMX Iceland has been updated in respect to the
introduction of the Volatility Guards. Link to Cancellation Guideline. 


More information about Volatility Guards is found on Member Extranet - INET
Nordic Enhancement. 

If you have any questions regarding this IT Exchange Notice please do not
hesitate to contact your Key Account Manager. 


Best regards, 

NASDAQ OMX Nordic


Please read about ongoing changes for NASDAQ OMX Nordic, on member extranet
INET Nordic Enhancements

Attachments

it_exchange_notice_14310_volatility guards phased implementationfinal_appendix.pdf it_exchange_notice_14310_vollaunchreminderstohelcph.pdf