On Mar. 15, Nasdaq Nordic issued rules on warrants and certificates.
Nasdaq issued rules of Nasdaq Nordic for warrants and certificates dated Feb. 10 2020.
Covered warrants, certificates and other similar structured products can be admitted to trading on segment Nasdaq NSDX, at Nasdaq First North Denmark, Finland, Sweden.
If instrument/issuer fulfil terms and conditions set out and if instrument, in reasonable opinion of Nasdaq Copenhagen, Helsinki or Stockholm is suitable for trading.
Nov. 2021 Rule Changes
On Nov. 3, 2021, Nasdaq Nordic published regulatory notice on amendments to Rule 3.3i of the rulebook for warrants and certificates, with effect from Nov. 19, 2021.
The requirement for final terms to be signed will be removed; instead issuers are required to confirm that final terms are final, filed with relevant supervisory authority.
The issuer should also submit a power of attorney to ensure that the person submitting the final terms (and confirming they are final) has the right to do so.
The revised rulebook incorporating the change will be published on Nasdaq’s website.
Nov. 4, 2021 Rules Published
On Nov. 4, 2021, Nasdaq Nordic published Rules of Nasdaq Nordic for Warrants and Certificates as amended by the notice published on Nov. 3, effective Nov. 19, 2021.
Dec. 2023 Further Rule Changes
On Dec. 21, 2023, Nasdaq Nordic issued a regulatory notice setting out changes to the Rules of Nasdaq Nordic for warrants and certificates (the rulebook) made by Nasdaq Copenhagen A/S, Nasdaq Helsinki Ltd and Nasdaq Stockholm AB (the Exchange).
Section 3.1.5 removed; no longer requirement from the Exchange; rule ensured no instruments fell under position limits reporting requirement introduced under MiFID II.
As a result of regulatory changes, requirements no longer applicable for securitized derivatives; rule change will enter into force on Jan. 1, 2024.
Appendix 2 of the Rulebook, sanctions Nasdaq Helsinki updated to clarify applicable rules for disciplinary and surveillance procedures based on the previous amendments.
Nov. 2024 Amended Rules
On Nov. 29, 2024, Nasdaq Nordic issued changes to the Rules of Nasdaq Nordic for Warrants and Certificates; the updates will enter into force on Jan. 1, 2025.
Removal of section 1.3.2, re no waive of the requirement for certification from the relevant supervisory authority to act as a credit institution or investment firm.
In addition, the guidance texts to section 2.1.2 and 2.1.3 have been amended in order to clarify under what circumstances a waiver can possibly be granted from now on.
New section 4.3 was added with an obligation to disclosures for surveillance purposes.
Editorial changes, e.g. new format to align the Rulebooks design across Nasdaq Nordic.
