On November 2nd, Nasdaq launched a set of Fixed Income futures in Mortgage / Government bonds and STIBOR/NIBOR FRA contracts. As a result of new configurations, the fee rebate structure for these products will be amended.
The amendment is only applicable to members who are flagged as Market Makers in the Fixed Income market and using the Market Maker fee list, i.e. the standard fee list that is applicable to clients and non-Market Makers will not be amended.
Summary of changes to Market Maker rebate structure:
| Product | Current Rebates | New Rebates |
| STIBOR FRA Future | Rebate after 100.000 contract in the same series. | Rebate after 500.000 in all STIBOR FRA Futures traded during the current year (January 1st to December 31st). |
| Repayment at contract expiration. | Rebate applied immediately on new trades. | |
| 3-Month NIBOR FRA Future | Rebate after 100.000 contracts in the same series. | Rebate after 500.000 in all 3-Month NIBOR FRA Futures traded during the current year (January 1st to December 31st) |
| Repayment at contract expiration. | Rebate applied immediately on new trades. | |
| Mortgage and Government bond Futures | Rebates enter into force after reaching 10.000 / 20.000 / 50.000 contracts in the same series. | No changes. |
| Repayment at contract expiration. | Rebate applied immediately on new trades. |
Further details in the attachment.
The change will take effect from 4th January 2016.
For further information, please contact the Nasdaq Fixed Income Team at fixedincomesweden@nasdaq.com
Best regards
NASDAQ Stockholm
