Nasdaq Nordic
Press release
Nasdaq Copenhagen Introduces Trading@ClosingPrice
Copenhagen, 1 May 2019 — Nasdaq (NDAQ) announced today the introduction of a
new trading phase called Trading@ClosingPrice on the Nasdaq Copenhagen and
First North Denmark markets. Trading@ClosingPrice is a 10-minute trading phase
after the lit order book closing auction, where trading members may optionally
continue to trade. Orders sent to this trading phase match continuously at the
closing auction price in a regulated on-exchange environment.
“We are very pleased with being able to meet a growing demand from our clients.
Trading@ClosingPrice is a trading functionality that creates additional
liquidity and matching opportunities in a lit, monitored and regulated
environment,” said President of Nasdaq Copenhagen and VP European Equity Sales,
Nikolaj Kosakewitsch, and continued: ”Trading@ClosingPrice has been on the wish
list for some time in the Danish market from both sell- and buy-side investors
alongside a considerable share of our non-Nordic market participants.”
Closing auction turnover on the Danish stock exchange today accounts for a
growing share of the average daily turnover. The new functionality will provide
further alternatives for investors who seek a representative end of day price.
Rolf Mølkjær, Head of Trading at Nordea Asset Management said,
“Trading@ClosingPrice will increase matching opportunities for all investors
who seek to trade the end-of-day liquid closing price, but who are not
necessarily keen on entering their full order size into the closing auction.
Instead this offers an opportunity to continue to match more volumes at the
fixed price set in the closing auction. In short, this is an excellent new
opportunity for investors who want to tap additional liquidity after a fixed
and fair auction equilibrium price has been found and thereby get the
opportunity to get their bigger sized order fully done on the day.”
Nasdaq Copenhagen launches the Trading@ClosingPrice functionality today May 1st
2019.
Learn more here
About Nasdaq
Nasdaq (Nasdaq: NDAQ) is a leading global provider of trading, clearing,
exchange technology, listing, information and public company services. Through
its diverse portfolio of solutions, Nasdaq enables customers to plan, optimize
and execute their business vision with confidence, using proven technologies
that provide transparency and insight for navigating today's global capital
markets. As the creator of the world's first electronic stock market, its
technology powers more than 100 marketplaces in 50 countries. Nasdaq is home to
over 4,000 total listings with a market value of approximately $14 trillion. To
learn more, visit: https://business.nasdaq.com.
MEDIA RELATIONS:
+ Javier Lopez Garrido
+ +45 51 71 45 71
+ javier.lopez@nasdaq.com
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