Nordnet launches order routing service for Nordic equities
Internet bank Nordnet will now offer their customers in Sweden, Denmark and Finland access to NASDAQ OMX’s order routing service for Nordic equities. It gives the savers a possibility to access additional markets through a single order via Nordnet. Through this service the order is placed with the market place that offers the best available price.
NASDAQ OMX Nordic order routing service was launched in 2011 and covers the most liquid Nordic shares. It is a cost-efficient solution that helps customers find the best prices at NASDAQ OMX, or at one of the below mentioned market places, through one single service.
- It is aligned with our business concept to offer services and tools that ease savers’ investments and also give them the best price, it feels natural and important to be able to offer our 400 000 Nordic customers NASDAQ OMX’s order routing service, says Håkan Nyberg, CEO Nordnet.
- Our Nordic marketplaces in Sweden, Denmark and Finland are second to none in meeting the demands of market participants on execution quality, offering the very best price 90-95% of the time. The Nordic order routing service introduced already in 2011 underscores our commitment to strengthen our offering further. Today we are pleased to see Nordnet joining the service. The order router helps Nordnet to further improve on price discovery for their customers as well as to strengthen Nordnet’s own business opportunities in an environment where technology and connectivity is key, says Lauri Rosendahl, Head of European Equity & Equity Derivatives NASDAQ OMX.
The Nordic Order Routing service covers the most liquid CCP cleared Nordic shares and is connected to five European trading venues: Chi-X, Bats, Turquoise, Burgundy and Oslo Stock Exchange. In the event there are better prices on other trading venues the order is routed to the venue providing the most competitive price. The NASDAQ OMX Nordic order router utilizes low latency market data provided by Thomson Reuters to make accurate routing decisions.
The service will be available at Nordnet in Sweden and Finland from June 13th and will shortly be available in Denmark as well.
Read more: http://www.nasdaqomx.com/transactions/trading/equities/nordicexecutionservices
For more information, contact:
Håkan Nyberg, CEO Nordnet, +46-08-506 330 36
E-mail: hakan.nyberg@nordnet.se
Nordnet is a Nordic online bank with about 508,700 accounts in Sweden, Norway, Denmark and Finland. We offer private individuals and companies services that make it possible to take control over their financial future. We target conscientious savers in the Nordic countries. The holding company, Nordnet AB (plc), is listed on NASDAQ OMX Stockholm. Visit us at www.nordnet.se, www.nordnet.no, www.nordnet.dk and www.nordnet.fi.
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