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Market Notice 244/24 – Information regarding the introduction of CCP solution at Spotlight Stock Market

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Spotlight Stock Market (Spotlight) - MIC XSAT plans to introduce an interoperable Central Counterparty (CCP) solution in the INET Nordic trading system. 

Spotlight confirms production go-live December 2, 2024. 

The scope of instruments that will be CCP cleared on the following market segments: 

  • Spotlight Denmark - all shares 

  • Spotlight Finland - all shares (currently no listings in this segment) 

  • Spotlight Norway - all shares 

  • Spotlight Sweden - all shares 

All shares traded on Spotlight will be cleared via a competitive central counterparty model with interoperating CCPs; Cboe Clear Europe N.V., LCH Ltd, and SIX x-clear Ltd with target launch date December 2, 2024. 

Details 

CCP clearing for Spotlight shares will follow the same technical principles as currently used on Nasdaq Nordic markets in the INET Nordic trading system. 

This means that “MCF”, “LCH” or “XCLR” will be contra to any trade:  

In FIX - ContraBroker [375] 

In OUCH - Contra Firm, TagValue 26 

There are no changes in ISIN codes, order book ids, turnover lists/list populations or trading hours for the affected instruments. 

Instruments’ CCP Eligibility is provided as part of GCF TIP reference data in BasicDataTradable, field CCPList. Updated reference data will be available via GCF. 

Protocol specifications 

There are no changes in INET functionalities or in any trading or market data related protocols. Reference data will be available via GCF-TIP, and existing INET protocols are used for all inbound and outbound messaging.  

Current versions of INET protocol specifications are available at the Nasdaq Nordic Technical Information website under INET Nordic Protocol Specifications. 

Time schedule  

The following time schedule is confirmed by Spotlight.   

  • INET Test (NTF) and GCF TST4: 

  • Cboe Clear Europe – currently in test 

  • SIX x-clear – currently in test 

  • LCH – currently in test 

  • INET and GCF Production – December 2,2024 

Technical support 

For technical questions, please contact Nasdaq Exchange Services: 

Exchange Services 
Group number +46 8 405 7700 
E-mail: EMO@nasdaq.com 

For all other questions, including questions on time schedule, please contact Spotlight:  

Spotlight Trading Operations 

Tel: +46 8-511 68 000  
E-mail: trading@spotlightstockmarket.com  

Stockholm November 26, 2024 

Spotlight Stock Market 
08-51168000   
backoffice@spotlightstockmarket.com

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