As of the first calendar quarter of 2014 (Q1-14), NASDAQ OMX Derivatives Markets will introduce a minimum trading volume requirement on Market Makers (“MM”) and liquidity providers (“LP”) in order to be entitled to the applicable MM and LP fees for Swedish index derivatives.
In addition to any MM requirements or LP fee list qualification criteria set out in the Market Maker Agreement, the Market Maker Undertaking, or in the Description of Liquidity Provider Programme in Swedish instruments, a Market Maker or liquidity provider must meet at least one of the two below volume thresholds in each calendar quarter to be entitled to the fees listed in appendix 3A or 3C respectively (“Swedish stock index options (monthly and weekly) and stock index futures (OMXS30, OMXSB) traded in SEK”).
A MM or LP that does not fulfill the minimum trading volume requirement in a specific calendar quarter will be charged the proprietary fees for Swedish stock index options and Swedish stock index futures set out in Appendix 3B (Proprietary Fee list) during the two subsequent calendar quarters. Customer LPs will be charged according to Appendix 3. The fees will apply for the two subsequent calendar quarters regardless of the MM or LP during these two calendar quarters fulfills the requirement. However, after such two calendar quarters and provided that the MM or LP meets the requirement the MM or LP shall be entitled to the fees listed in appendix 3A and 3C, respectively.
Minimum required volumes for MMs and LPs:
Threshold 1: MM or LP must trade a minimum of 50 000 Swedish stock index option contracts on its Market Maker Accounts or LP accounts during a calendar quarter.
Threshold 2: A MM’s or LP’s number of Swedish stock index option contracts traded on its Market Maker Accounts or LP accounts during one calendar quarter must exceed 10% of the Market Maker’s or LP’s total number of traded Swedish stock index futures contracts during the same quarter.
At least one of the two volume thresholds must be met in each calendar quarter.
For further information concerning this exchange notice, please see the attached file or contact your Account Manager, or Product Manager Tomas Körberg, telephone +46 8 406 6883 or Product Manager Mikael Siewertz, telephone +46 8 405 6634.