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Nasdaq launches Auction on Demand in the Nordics

First Published 12th June 2017

Auction on Demand now available on all Nasdaq Nordic Exchanges. Software vendors on-board include Itiviti, FIS Front Arena, Fidessa and Vitec Aloc.

Henrik Husman, Nasdaq

Henrik Husman, Nasdaq

Nasdaq has launched a new market feature, Auction on Demand - designed to fulfill MiFID II transparency requirements.

Since the announcement in December 2016, several Independent Software Vendors (ISV's) have signed up for the service and are ready to support trading from start. These include FIS Front Arena, Itiviti, Fidessa and Vitec Aloc.

Product features include:

  • an innovative price discovery mechanism
  • unique internal (broker)/size/time priority
  • multiple safety features

Henrik Husman, Vice President, European Cash Equities at Nasdaq said: "We believe that there is a demand for a trading service that incorporates internal priority and other innovative features into an periodic auction model ready for a post MiFID II trading landscape. The strong group of members and ISV's supporting the service from launch is a strong indication that we have made the right assessment."

Auction on Demand will be available for trading in shares on Nasdaq Stockholm (including Norwegian shares), Nasdaq Copenhagen, Nasdaq Helsinki and Nasdaq Iceland as well as ETF's and investment funds on Nasdaq Copenhagen.