Tuesday February 13 2018
News Source: Global Exchanges
Focus: Trading Systems and Technology
Type: General
On 13th February 2018, Nasdaq Broker Services launched the Nasdaq Nordic Fund Market in Finland and Norway. The market service, available in Sweden since 2010, aims to increase the efficiency for fund distributors and fund companies by enabling electronic straight through processing of orders and settlement.
Nordic Fund Market gives fund distributors access to a broad choice of mutual funds through one single interface. As of now, the service covers the Swedish, Finnish and Norwegian market for distributors and local and international fund companies are welcome to register their funds as long as their products are registered for sale in the respective countries. There are presently 200 connected fund companies with more than 5,000 mutual funds available on the Nasdaq platform.
The announcement is the latest step in Nasdaq’s ambition to create a modern, effective and integrated fund market in the Nordic region, based on new and innovative market technology. Last September, Nasdaq announced a joint project together with Nordic financial services group SEB, to test a developed for mutual fund trading platform based on blockchain technology.
For additional information please click the link above.