Market Maker Fee List - Nasdaqbusiness.nasdaq.com/media/App_3A_Market-Maker-Fee-List_tcm504… · E X C H A N G E R U L E S A N D C L E A R I N G R U L E S ... Market Maker Fee List

E X C H A N G E R U L E S A N D C L E A R I N G R U L E S

O F N A S D A Q D E R I V A T I V E S M A R K E T S

2 2 M A R C H 2 0 1 8 • A P P E N D I X 3 A • F E E L I S T F O R M A R K E T M A K E R • P A G E 1 ( 1 7 )

Market Maker Fee List

Table of Contents

EQUITY DERIVATIVES

DANISH DERIVATIVES FINNISH DERIVATIVES NORWEGIAN DERIVATIVES SWEDISH DERIVATIVES PAN-NORDIC DERIVATIVES OVERUNDER (BINARY OPTIONS)

FIXED INCOME DERIVATIVES

NON-PERFORMING MARKET MAKERS

The Market Maker’s number of traded contracts with respect to the different MM Levels mentioned below

shall be determined by reference to the total number of contracts traded, as Exchange Transactions and flexible

contracts, in the relevant currency and product (for example, “Stock options & Stock forwards” and “Stock

index options & Stock index futures” are two separate products). That is, in terms of number of contracts

traded in a particular currency and product, the Market Maker’s number of traded contracts are determined not

only by contracts traded in instruments where it acts as a market maker, but taking into account only Exchange

Transactions and flexible contracts. This is applicable to both Small and Large Market Makers.

Transaction fees for non-Exchange Transactions in equity derivatives on Market Maker Accounts and

Proprietary Accounts, other than flexible contracts, are set out in Appendix 3B (Proprietary Fee List).



2 J A N U A R Y 2 0 1 8 • A P P E N D I X 3 A • F E E L I S T F O R M A R K E T M A K E R • P A G E 2 ( 20)

EQUITY DERIVATIVES

Danish derivatives

Options and futures on Danish shares (DKax) traded in DKK

Fee

Transaction Nordic MM:

DKK 0.75 per contract

MM:

Stock options and Stock futures are traded according to different fee levels based on yearly accumulated volume

(calendar year)

MM level 1: 1 – 300 000 contracts

(contracts not traded at discount fee)


MM level 2: 300 001 – contracts **


No fee required for stock options with a premium of DKK 0.05 or less

(For transactions part of an Average Price Trade , no fee is required if average premium is DKK 0.05 or less)

Close-out transactions on futures are free of charge

Stressed

Market

Conditions

A per contract rebate is given to Market Makers that for the stressed market condition phase meets the quoting

obligations for continuous quoting regarding stressed market conditions. The rebate is 0.05 DKK per contract

traded electronically during the stressed market condition phase.

Volume

discount stock

options

Maximum fee is DKK 8 000 per transaction

Volume

discount stock

futures

Maximum fee is DKK 5 000 per transaction

Maximum 8 000 contracts per transaction will be accumulated to Market Maker’s yearly volume.

Contracts traded at no fee will not be accumulated to Market Maker’s yearly volume.

Non-Exchange Transactions, other than flexible contracts, will not be accumulated to Market Maker’s yearly

volume.

Exercise and

Assignment

0.03% of the exercise amount*) but not more than DKK 8 000 per position exercised

Exercise and

Assignment,

Nordic MM

0.025% of the exercise amount*) but not more than DKK 8 000 per position exercised




Danish stock index options and stock index futures (OMXC20CAP, OMXC25) traded in DKK

Fee

Transaction

and closing

Nordic MM:


MM:

Stock index options and Stock index futures are traded according to different fee levels based on yearly

accumulated volume (calendar year)

MM level 1a: 1 – 100 000 contracts



MM level 1b: 100 001 – 200 000 contracts **





Contracts traded at no fee will not be accumulated to Market Maker’s yearly volume.


volume.

No fee required for stock index options with a premium of DKK 0.10 or less

(For transactions part of an Average Price Trade , no fee is required if average premium is DKK 0.10 or less)

Stressed

Market

Conditions


obligations for continuous quoting regarding stressed market conditions. The rebate is 0.05 DKK per contract


Fee holiday: No fee for OMXC25 index options and futures until June 30, 2018.

Flexible contracts (DKax, OMXC20CAP, OMXC25) traded in DKK

The fees specified above are also applicable for Flexible contracts.

Fee holiday: No fee for OMXC25 index options and futures until June 30, 2018.




Finnish derivatives

Options and forwards on Finnish shares (FIax) traded in EURO

Fee

Transaction

Stock options and stock forwards are traded according to different fee levels based on yearly accumulated

volume


EUR 0.10 per contract



Maximum 8000 contracts per transaction will be accumulated to yearly volume


volume.

Volume

discount stock

options

Maximum fee is EUR 800 per transaction

Volume

discount stock

forwards

Maximum fee is EUR 600 per transaction

Exercise and

Assignment

0.03% of the exercise amount*) but not more than EUR 800 per position exercised

Stressed

Market

Conditions


obligations for continuous quoting regarding stressed market conditions. The rebate is 0.005 EUR per contract


Flexible contracts (FIax) traded in EURO





Norwegian derivatives

Options (incl. Weekly Options), forwards and futures on Norwegian shares (NNOax and weekly options)

traded in NOK

Fee

Transaction Nordic MM:

NOK 0.38 per contract

Regular MM, Advanced MM, and Advanced Extra MM:

Stock options, stock forwards and stock futures are traded according to different fee levels based on yearly


Regular MM level 1: 1 – 400 000 contracts


Advanced MM level 1: 1 – 400 000 contracts

NOK 0.75 per contract regarding contracts traded electronically or via MPS (the Exchange’s manual exchange

trading system)

NOK 1.00 per contract regarding other transactions

Advanced Extra MM level 1: 1 – 400 000 contracts


trading system)


Regular, Advanced MM and Advanced Extra MM level 2: 400 001 – contracts **


No fee required for stock options with a premium of NOK 0.05 or less

(For transactions part of an Average Price Trade , no fee is required if average premium is NOK 0.05 or less)


Maximum 8 000 contracts per transaction will be accumulated to yearly volume.

Contracts traded at no fee will not be accumulated to yearly volume.


volume.

Stressed

Market

Conditions


obligations for continuous quoting regarding stressed market conditions. The rebate is 0.05 NOK per contract


Transaction,

Weekly

Options Market

Maker

Market Makers that have signed the Market Maker Commitment for Norwegian Single Stock Weekly options:

NOK 0 per contract regarding contracts traded electronically or via MPS


Volume

discount stock

options

Maximum fee is NOK 8 000 per transaction

Volume

discount stock

forwards and

futures

Maximum fee is NOK 6 000 per transaction

Exercise and

Assignment

0.03% of the exercise amount*) but not more than NOK 8 000 per position exercised

Exercise and

Assignment,

Nordic MM

0.025% of the exercise amount*) but not more than NOK 8 000 per position exercised




Norwegian stock index options and stock index futures (OMXO20) traded in NOK

Fee

Transaction

and closing

Nordic MM:

Options: NOK 0.45 per contract

Futures: NOK 0.30 per contract

Regular MM:


Advanced MM:

(contracts not traded at discount or BTF fees)


trading system)

NOK 0.60 per contract regarding other transactions and closing

Advanced Extra MM:

(contracts not traded at discount or BTF fees)

Options


trading system)


Futures


trading system)


No fee required for stock index options with a premium of NOK 0.10 or less

(For transactions part of an Average Price Trade , no fee is required if average premium is NOK 0.10 or less)

Stressed

Market

Conditions


obligations for continuous quoting regarding stressed market conditions. The rebate is 0.05 NOK per contract


Flexible contracts (NNOax, OMXO20) traded in NOK


Discontinued Advanced Market Maker (AMM) undertaking: If the AMM chooses to discontinue its undertaking and choose another MM

undertaking in lieu of the AMM undertaking the number of traded contracts used for the volume rebate will be set to zero at the start of the

new undertaking.




Swedish derivatives

Options (incl. Weekly Options), forwards and futures on Swedish shares and Exchange Traded Funds (SEax,

SDB, SEetf and weekly options) traded in SEK

Fee

Transaction,

Nordic MM

NMM level 1: SEK 0.38 per contract


NMM level 2 fee is charged during the quarter following a calendar quarter in which the Nordic MM reaches

both the below volume thresholds as Exchange Transactions and flexible contracts:

Danish stock and stock index derivatives: 60 000 traded contracts (excluding contracts free of charge)

Norwegian stock and stock index derivatives: 60 000 traded contracts (excluding contracts free of charge)

Transaction

(Annual

Market Maker

Fee Model)

Options, forwards and futures are traded according to different fee levels based on yearly accumulated volume

(calendar year)

Regular MM level 1: 1 – 2 000 000 contracts

SEK 1.00 per contract

Advanced MM level 1a: 1 – 1 000 000 contracts

SEK 0.75 per contract regarding contracts traded electronically or via MPS (the Exchange’s manual exchange

trading system)

SEK 1.00 per contract regarding other transactions

Advanced MM level 1b: 1 000 001 – 2 000 000 contracts **

SEK 0.50 per contract regarding contracts traded electronically or via MPS


Regular and Advanced MM level 2: 2 000 001 – contracts **


Transaction

(Monthly

Market Maker

Fee Model)

Options, forwards and futures are traded according to different fee levels based on monthly accumulated volume

(calendar month)



Advanced MM level 1a: 1 – 90 000 contracts


trading system)


Advanced MM level 1b: 90 001 – 180 000 contracts

SEK 0.50 per contract regarding contracts traded electronically or via MPS


Regular and Advanced MM level 2: 180 001 – contracts


Transaction,

Weekly

Options Market

Maker

Market Makers that have signed the Market Maker Commitment for Swedish Single Stock Weekly options:

SEK 0 per contract regarding contracts traded electronically or via MPS


Volume

discount stock

options

Maximum fee is SEK 8 000 per transaction

Volume

discount stock

forwards and

futures

Maximum fee is SEK 6 000 per transaction




Request for

Quote on Tailor

Made

Combination

A per contract rebate is given to Market Makers that for a calendar month meets the quoting obligations for

Request for Quote on Tailor Made Combination. The rebate is 0.05 SEK per contract traded within Tailor Made

Combination order books during the relevant calendar month. Contracts traded against implied orders are not

eligible for the rebate.

Stressed

Market

Conditions


obligations for continuous quoting regarding stressed market conditions. The rebate is 0.05 SEK per contract


Quarterly

volume

discount

A per contract rebate is given to Advanced Market Makers that during one calendar quarter has traded at least

1 000 000 contracts and at least 4 500 000 contracts in the preceding calendar year, as Exchange Transactions

and flexible contracts, but excluding contracts traded at no fee. In the following calendar quarter, the rebate is

SEK 0.20 per contract traded as Exchange Transactions and flexible contracts on Market Maker accounts, and

the maximum rebate per Advanced Market Maker and calendar quarter is SEK 250 000.

No fee required for options with a premium of SEK 0.05 or less

(For transactions part of an Average Price Trade , no fee is required if average premium is SEK 0.05 or less)


Maximum 8 000 contracts per transaction will be accumulated to Market Maker’s yearly/monthly volume.

Contracts traded at no fee will not be accumulated to Market Maker’s yearly/monthly volume.

Non-Exchange Transactions, other than flexible contracts, will not be accumulated to Market Maker’s

yearly/monthly volume.

Exercise and

Assignment

0.03% of the exercise amount*) but not more than SEK 8 000 per position exercised

Exercise and

Assignment,

Nordic MM

0.025% of the exercise amount*) but not more than SEK 8 000 per position exercised

Swedish stock index options (monthly and weekly) and stock index futures (OMXS30, OMXSB) traded in SEK

Fee

Transaction

and closing,

Nordic MM



NMM level 2 fee is charged during the quarter following a calendar quarter in which the Nordic MM reaches

both the below volume thresholds as Exchange Transactions and flexible contracts:

Danish stock and stock index derivatives: 60 000 traded contracts in calendar quarter

Norwegian stock and stock index derivatives: 60 000 traded contracts in calendar quarter

Transaction

and closing

(Annual

Market Maker

Fee Model)



Regular MM level 1: 1 – 1 000 000 contracts

(contracts not traded at discount fees)


Advanced MM level 1: 1 – 1 000 000 contracts



trading system)


SEK 0.25 per index option contract if preceding calendar year’s total volume (contracts not traded at discount

fees) exceeded 3 000 000 index option contracts***



Regular and Advanced MM level 2: 1 000 001 – contracts **







Transaction

and closing

(Monthly

Market Maker

Fee Model)

Stock index options and Stock index futures are traded according to different fee levels based on monthly

accumulated volume (calendar month)




Advanced MM level 1: 1 – 100 000 contracts



trading system)


Regular and Advanced MM level 2: 100 001 – contracts


Request for

Quote on Tailor

Made

Combination

A per contract rebate is given to Market Makers that for a calendar month meets the quoting obligations for

Request for Quote on Tailor Made Combination. The rebate is 0.05 SEK per contract traded within Tailor Made

Combination order books during the relevant calendar month. Contracts traded against implied orders are not

eligible for the rebate.

Stressed

Market

Conditions


obligations for continuous quoting regarding stressed market conditions. The rebate is 0.05 SEK per contract


No fee required for stock index options with a premium of SEK 0.10 or less

(For transactions part of an Average Price Trade , no fee is required if average premium is SEK 0.10 or less)

Contracts traded at no fee will not be accumulated to Market Maker’s yearly/monthly volume.

Non-Exchange Transactions, other than flexible contracts, will not be accumulated to Market Maker’s

yearly/monthly volume.

Fee for stock index options is capped at 5 000 contracts per transaction.

If a Market Maker Undertaking (i.e. Appendix A to Market Making Undertakings in Swedish Instruments) has

been signed for both weekly and monthly index options (OMXS30), the volumes will be aggregated to one

accumulated volume per calendar year.

Note: To be eligible for Market Maker fees for weekly index options (OMXS30), the Market Maker has to sign

and fulfill the requested Market Maker Undertaking (i.e. Appendix A to Market Making Undertakings in

Swedish Instruments) for such contract type.

Specific

volume

requirements

for Swedish

stock index

options and

Swedish stock

index futures

In addition to any requirements set out in the Market Maker Agreement and the Market Maker Undertaking, a

Market Maker must meet at least one of the two below volume thresholds in each calendar quarter to be entitled

to the fees listed above in this appendix (Swedish stock index options (monthly and weekly) and stock index

futures (OMXS30, OMXSB) traded in SEK). A Market Maker that does not fulfill this requirement in a specific

calendar quarter will be charged the proprietary fees for Swedish stock index options and Swedish stock index

futures set out in Appendix 3B (Proprietary Fee list) during the two subsequent calendar quarters. The fees in the

Proprietary Fee list will apply for the two subsequent calendar quarters regardless of the Market Maker during

these two calendar quarters fulfills the requirement. However, after such two calendar quarters and provided that

the Market Maker meets the requirement the Market Maker shall be entitled to the fees listed above in this

appendix,

Minimum required volumes for Market Makers:

Threshold 1: A Market Maker must trade a minimum of 50 000 Swedish stock index option contracts as

Exchange Transactions and flexible contracts on its Market Maker Accounts during a calendar quarter.

Threshold 2: A Market Maker’s number of Swedish stock index option contracts traded as Exchange

Transactions and flexible contracts on its Market Maker Accounts during one calendar quarter must exceed 10%

of the Market Maker’s total number of traded Swedish stock index futures contracts as Exchange Transactions

and flexible contracts during the same quarter.

Stock index options traded at no fee will not be included in traded volumes



2 J A N U A R Y 2 0 1 8 • A P P E N D I X 3 A • F E E L I S T F O R M A R K E T M A K E R • P A G E 1 0 ( 20)

Swedish stock index dividend futures (OMXS30DVP) traded in SEK

Fee

Transaction and

closing

Stock index dividend futures are traded according to different fee levels based on yearly accumulated volume

(calendar year).





Fee for stock index dividend futures is capped at 5 000 contracts per transaction.

Stock index dividend futures traded at no fee will not be included in accumulated yearly volume. Non-Exchange Transactions, other than flexible contracts, will not be accumulated to Market Maker’s yearly

volume.

Note: To be eligible for Market Maker fees for stock index dividend futures (OMXS30DVP), the Market Maker

has to sign and fulfill the requested Market Maker Undertaking for such contract type.

Flexible contracts (SEax, SDB, OMXS30, OMXSB) traded in SEK


Switch between monthly and yearly fee model: Should the Market Maker choose to change fee model from the monthly to the yearly MM

fee model the number of traded contracts used for the volume rebate will be set to zero at the implementation of the new fee model.

Discontinued Advanced Market Maker (AMM) undertaking: If the AMM chooses to discontinue its undertaking and choose another MM undertaking in lieu of the AMM undertaking the number of traded contracts used for the volume rebate will be set to zero at the start of the

new undertaking.




Pan-Nordic derivatives

Nordic stock index options and stock index futures traded in EURO

Fee

Transaction

and closing,

VINX30


accumulated volume

MM level 1: 1 – 1 000 000 contracts


MM level 2: 1 000 001 – contracts **


Stressed

Market

Conditions


obligations for continuous quoting regarding stressed market conditions. The rebate is 0.005 EUR per contract



volume.

Flexible contracts (VINX30) traded in EURO





Fixed Income Derivatives Fixed income products (OMr) - Market Maker Fee

Transaction Fees for proprietary transactions by account holders who are associated as quoters on the fixed income derivatives markets.

New fee levels are only applied on fees in relation to events that occur after the day when the respective threshold has been reached.

Fees for standardized derivatives as specified in relevant tables below are expressed as one of the following fee types:

Yield/BP: Trade Yield Raised/lowered with basis points CCY/Contract: Currency units in respective fee currency and per contract.

Standardized Derivatives

Transaction and Closing fee Delivery fee

Product Fee CCY Fee Type Base Fee Level 1 Fee Level 2 Fee Level 3 Fee Fee Type Fee

Swedish Government bond futures

SGB2Y SEK Yield/BP 0,012 0,009 0,006 0,003 CCY/Contr 65 *



Nbr of Contracts in same series to reach new fee level: >10.000 >20.000 >50.000

Swedish Mortgage bond futures

STH2Y SEK Yield/BP 0,006 0,0045 0,003 CCY/Contr 65 *

NDH2Y SEK Yield/BP 0,006 0,0045 0,003 CCY/Contr 65 *

SWH2Y SEK Yield/BP 0,006 0,0045 0,003 CCY/Contr 65 *

STH5Y SEK Yield/BP 0,006 0,0045 0,003 CCY/Contr 65 *

NDH5Y SEK Yield/BP 0,006 0,0045 0,003 CCY/Contr 65 *

SWH5Y SEK Yield/BP 0,006 0,0045 0,003 CCY/Contr 65 *

SCBC5Y SEK Yield/BP 0,006 0,0045 0,003 CCY/Contr 65 *

Nbr of Contracts in same series to reach new fee level: >10.000 >20.000

Danish Mortgage bond futures

MBF DKK CCY/Contr 15 12 9 CCY/Contr 15 **

Nbr of MBF contracts per month to reach new fee level: >2.500 >5.000

** Max Closing fee 10,000 DKK per series

* Max Delivery fee 25,000 SEK per series

Standardized Derivatives

Transaction and Closing fee

Product Fee CCY Fee Type Base Fee Level 1 Fee




STIBOR FRA forwards

FRA SEK Yield/BP 0,039 0,025

Nbr of Contracts in same series to reach new fee level: >100.000

NIBOR FRA forwards

3NFRA NOK Yield/BP 0,039 0,025

6NFRA NOK Yield/BP 0,025

Nbr of Contracts in same series to reach new fee level: >100.000

STIBOR FRA futures

3STIBFRA SEK Yield/BP 0,039 0,025

Nbr of 3STIBFRA contracts per year to reach new fee level: >500.000

NIBOR FRA futures

3NIBFRA NOK Yield/BP 0,039 0,025

6NIBFRA NOK Yield/BP 0,025

Nbr of 3NFRA contracts per year to reach new fee level: >500.000

CIBOR futures

CIBOR DKK CCY/Contr 1 0,8

Nbr of CIBOR contracts per month to reach new fee level: >50.000

RIBA futures

RIBA SEK CCY/Contr 1 0,8

Nbr of RIBA contracts per year to reach new fee level: >200.000

Options on STIBOR FRA forwards and futures

FRA, 3STIBFRA option SEK CCY/Contr 0,35

Options on NIBOR FRA forwards and futures

3NFRA, 3NIBFRA option NOK CCY/Contr 0,35

6NFRA, 6NIBFRA option NOK CCY/Contr 0,35

Options on Government Bond futures

SGB2Y option SEK CCY/Contr 1

SGB5Y option SEK CCY/Contr 2,5

SGB10Y option SEK CCY/Contr 3,5

New fee levels are only applied on fees in relation to events that occur after the day when the respective threshold has been reached.

Fees for REPO Contracts are expressed in respective fee currency and calculated as (fee x SC x d/360)

Buy-sell-back/Sell-buy-back REPO Contracts

Transaction fee




Generic Rates Instruments

Product Fee CCY

Transaction Base Fee

Settlement Base Fee

Fee cap*

SEK IRS SEK 3 1,5 SEK 3.000.000

SEK OIS SEK 1 1 SEK 3.000.000

SEK FRA SEK 1 1 SEK 3.000.000

EUR IRS 3M EUR 3 1,5 EUR 300.000

EUR IRS 6M EUR 3 3 EUR 300.000

EUR FRA 3M EUR 1 1 EUR 300.000

EUR FRA 6M EUR 1 1 EUR 300.000

DKK IRS 3M DKK 3 1,5 DKK 3.000.000

DKK IRS 6M DKK 3 3 DKK 3.000.000

DKK FRA 3M DKK 1 1 DKK 3.000.000

DKK FRA 6M DKK 1 1 DKK 3.000.000

NOK IRS 6M NOK 3 3 NOK 3.000.000

NOK FRA 6M NOK 1 1 NOK 3.000.000

General Information Regarding Generic Rates Instruments Fee Cap Model

Product Fee CCY Base Fee Level 1 Fee Level 2 Fee

REPO in Swedish Listed Bonds

SEK Repo SEK 0,00005 0,00004 0,00003 * Amount of Yearly accumulated Repo Fees to reach next fee level: >1.000.000 >2.000.000

REPO in Danish Listed Bonds

DKK Repo DKK 0,00005 **

* Minimum fee per trade is 25.00 SEK

* Minimum fee per trade is 20.00 DKK

*Generic Rates Instruments Fee Cap Model

Products included Generic Rates Instruments

Accounts Included Accounts held by holders who are

associated as quoters on the fixed income markets.

Threshold

DKK 3.000.000 EUR 300.000

NOK 3.000.000 SEK 3.000.000

Discount when achieved threshold

100%




The Fee Cap model is automatically applied on all accounts covered by this fee list and trading the Generic Rates Instruments.

The Fee Cap model becomes effective when the aggregated paid Transaction- and Settlement fees per currency and clearing account during a calendar year amount to the specified threshold per year.

The model is applied on fees in relation to events that occur after the day when the respective threshold has been reached.

The model is reset annually, i.e. at the start of each calendar year the ordinary base fees for transaction and settlement are applied, until the applicable threshold has been reached.




NON-PERFORMING MARKET MAKERS

Non-performing Market Makers

In the event that the market maker does not fulfill its quoting obligations, the Market Maker shall during the month in

question pay an extra fee according to the table below. The fee is based on the number of contracts traded by the

Market Maker and the level of fulfillment (quoted in per cent). The fee level per contract depends on how many

consecutive months the obligations have not been fulfilled.

Stock index

options & Stock

index futures

Month 1 2 3 4

Nordic MM

% Quoted

% Quoted SEK

75-80 75-80 Warning 0.20 per

contract

0,30 per contract Prop fee

50-75 50-75 0,20 per

contract

0,30 per

contract


< 50 < 50 0,30 per

contract

0,40 per

contract


Nordic MM

% Quoted

% Quoted DKK

75-80 70-75 Warning 0.10 per

contract


50-75 50-70 0,10 per

contract

0,15 per

contract


< 50 < 50 0,15 per

contract

0,20 per

contract


Nordic MM

% Quoted

% Quoted NOK

75-80 70-75 Warning 0.10 per

contract


50-75 50-70 0,10 per

contract

0,15 per

contract


< 50 < 50 0,15 per

contract

0,20 per

contract


Stock options &

Stock

forwards/futures

Month 1 2 3 4

Nordic MM

% Quoted

% Quoted SEK

75-80 75-80 Warning 0.10 per

contract


50-75 50-75 0,10 per

contract

0,15 per

contract


< 50 < 50 0,15 per

contract

0,20 per

contract


Nordic MM

% Quoted

% Quoted DKK

75-80 70-75 Warning 0.10 per

contract


50-75 50-70 0,10 per

contract

0,15 per

contract





< 50 < 50 0,15 per

contract

0,20 per

contract


% Quoted EUR

70-75 Warning 0.01 per

contract

0,015 per

contract

Prop fee

50-70 0,01 per

contract

0,015 per

contract


< 50 0,015 per

contract

0,02 per

contract

0,025 per

contract

Prop fee

Nordic MM

% Quoted

% Quoted NOK

75-80 70-75 Warning 0.10 per

contract


50-75 50-70 0,10 per

contract

0,15 per

contract


< 50 < 50 0,15 per

contract

0,20 per

contract


In the event that the Market Maker does not fulfill its quoting obligations, the Market Maker shall during the month

in question pay a non-performing fee according to the table below. The fee is per underlying and the level of

fulfillment (quoted in per cent).

Request For

Quote on Tailor

Made

Combinations

SEK

% Quoted Single Stock OMXS30

< 50 250 500

< 25 750 1 500

0 1 500 3 000


in question pay a non-performing fee according to the table below. The fee is per underlying times the number of

days where minimum obligations are not met. The fee level per underlying and day depends on how many


Non-performing

fee – minimum

obligations

(50%/day) for

qualifying

subclasses

Month 1 2 3

Days SEK

< 3 - Warning 100

< 5 100 200 300

> 5 200 300 400

Days DKK

< 3 - Warning 100

< 5 100 200 300

> 5 200 300 400

Days EUR

< 3 - Warning 10

< 5 10 20 30

> 5 20 30 40

Days NOK

< 3 - Warning 100

< 5 100 200 300




> 5 200 300 400

Note: The above NOK fees are currently only applicable to Nordic Market Makers




Non-performing Nordic MM:

Non-performing Nordic MM

Fee according to the above table for contracts traded in market segment where quoting obligations are not fulfilled.

An extra non-performing fee is charged on contracts traded in Swedish derivatives, according to the below.

The extra non-performing fee is not charged if, according to table above, for the failed market segment the Nordic MM is given a warning

only.

Failed market segment % Quoted Fee per contract, Swedish index derivatives

(per failed market segment)

SEK

Danish index options

Norwegian index options

Swedish index weekly options

75-80 0.02

50-75 0.04

< 50 0.06

Failed market segment % Quoted Fee per contract, Swedish stock derivatives

(per failed market segment)

SEK

Danish stock options

Norwegian stock options

Swedish stock weekly options

Norwegian stock weekly options

75-80 0.01

50-75 0.02

< 50 0.03


in question pay a non-performing fee according to the table below. The fee is per underlying and the level of

fulfillment (quoted in per cent).

Request For

Quote on Tailor

Made

Combinations

SEK

% Quoted Single Stock OMXS30

< 50 150 500

< 25 250 1 000

0 500 2 000


in question pay a non-performing fee according to the table below. The fee is per underlying times the number of

days where minimum obligations are not met. The fee level per underlying and day depends on how many


Non-performing

fee – minimum

obligations

(50%/day) for

qualifying

subclasses

Month 1 2 3

Days SEK

< 3 - Warning 50

< 5 50 75 100

> 5 75 100 150

Days DKK

< 3 - Warning 50

< 5 50 75 100

> 5 75 100 150

Days NOK

< 3 - Warning 50

< 5 50 75 100




> 5 75 100 150

* = Fee is calculated per contract and is rounded off to three (3) decimals

** = Fee applies from the day following the day the MM level was exceeded

*** = including index weekly options only if designated MM in index weekly options

Documents

Market Maker Fee List - Nasdaqbusiness.nasdaq.com/media/App_3A_Market-Maker-Fee-List_tcm504… · E X C H A N G E R U L E S A N D C L E A R I N G R U L E S ... Market Maker Fee List