The demands on transparency continue to increase with changing requirements on both pre- and post-trade reporting. New solutions are needed to control what market information is disclosed, to which market participants, while still providing sufficient information to enable a well-functioning market and regulatory compliance.

NASDAQ OMX has a range of services, available via a standardized interface, to provide access to information vendors and, through them, the investment community. When trading on the Nordic Exchange, most of these services are included by default.

Pre-trade transparency facility

Under certain conditions, MiFID requires systematic internalizers to publish firm quotes. NASDAQ OMX services include real-time quote publication and dissemination to help meet these new requirements.

Product sheet:
Pre-trade transparency - Customer classification and control tool

Trade reporting facility

The new post-trade reporting rules in MiFID cover all trades in equities admitted to trading on a regulated market. For most trades, publication of price, volume and time of execution must take place as close to real-time as possible but no later than within three minutes of trading. NASDAQ OMX is extending its trade reporting services to also encompass other liquid EU securities and provide more options for trade reporting, for example in handling anonymity and delayed publication.

Product sheets:
Trade Reporting Facility – OTC Publication Service
Trade Reporting Facility – Manual Trade Service

Transaction reporting service

Under MiFID, investment firms will only have to report transactions once – to their home market supervisor. NASDAQ OMX services handle transaction reporting for all EU securities to the competent authorities in Denmark, Finland, Iceland, Sweden, Estonia, Lithuania and Latvia.

Product sheet:
Transaction reporting service - Reporting and monitoring tool