In Denmark Nasdaq Offers a Listing Service for a Variety of Fixed Income Products
In total more than 2.200 bonds are listed at Nasdaq Copenhagen A/S.
Mortgage bonds are the biggest category of listings with approximately 1.700 listings. A broad variety of issuers have listed bonds on our Copenhagen market including the Danish government and semi-public institutions, local banks, international investment banks, companies and multilateral institutions.
The Main Categories for the Different Types of Bonds Listed on the Market in Copenhagen are:
- Government Bonds
Danish Governments bonds are listed at Nasdaq Copenhagen A/S. Trading is available in a specific retail sub market.
- Mortgage Bonds
The Danish mortgage market is unique in an international perspective. All Danish issuers of mortgage bonds list their bonds on our market.
- Structured Bonds
We offer two different listing opportunities for structured bonds:
- A retail listing including services targeted Danish retail investors, market making in the secondary market and an updated daily price feed for listed retail bonds.
- A wholesale offering targeted professional investors demanding listing on a regulated market, but with no need for additional trading services.
- Corporate and Other bonds
Instruments listed under the corporate and other bonds market segment consist of both Danish and international issuers of corporate bonds.
Effective Listing Process Based on EU-standards and Best Practice
We offer listing services based on international best pratices and standards with the aim of giving our clients a fast, reliable and efficient service in the listing process. Furthermore you always communicate directly with the department responsible for listing approval to ensure efficient and cost saving listing procedures.
Advantages of Being Listed
Nasdaq Copenhagen A/S is the centre for offering of fixed income related products in Denmark. We are an integrated part of the Danish financial infrastructure for Danish fixed income products given our offerings of listing and trading venues and provider of information services related to Danish fixed income products.
Thus listing of securities on our market gives a direct access to Danish financial markets with trading and data distribution service to all financial institutions in Denmark. In short a listing gives you the following advantages:
- Listing on a regulated market fulfills requirement from many institutional investors only allowed investing in listed securities. Similarly listing on a regulated exchange is applicable for approaching private Danish investors making individual investments made under the Danish Pension scheme (Pensionsafkastningsbeskatningsloven).
- Trading in the secondary market with updated pre and post trade information in many securities.
- Visibility through distribution of trading information vendors.
- Official price quotes from a regulated exchange.
- Updated best execution prices for settlement of retail off-exchange trades.
Bonds are listed in accordance with the Danish Securities Council Executive Order No. 1069 of 4 September 2007 on the Conditions for the Admission of Securities to Stock Exchange Listing and The Rules for Issuers at Nasdaq Copenhagen A/S.
New issuers must sign the General Terms and Conditions for listing whereby the issuer undertakes to fulfill the disclosure requirements and other obligations laid upon issuers of listed securities as prescribed in the Consolidated Act on Securities Trading and the rules laid down by the Danish Securities Council and Nasdaq Copenhagen A/S.
Fixed income securities are admitted to trading based on an approved prospectus in accordance with the Commision Regulation (EC) No 809/2004 of 29 April 2004 implementing Directive 2003/71/EC of the European Parliament, and the Rules for Issuers on Nasdaq Copenhagen A/S.
Fixed income securities can either be admitted to trading on the basis of a stand alone prospectus or on the basis on a base prospectus and a set of final terms related to the specific issue of securities.
Issuers with an approved base prospectus must submit the base prospectus and a set of final terms related to the specific issue of securities to the exchange. In this case Nasdaq Copenhagen reviews the final terms in order to make sure that the specifics of the securities in question are such that the securities can be admitted to trading and officially listed at Nasdaq Copenhagen.
Application for Admission to Trading
The following material should be send to Nasdaq Copenhagen when applying for admission to trading and official listing of a fixed income product:
- Draft prospectus (stand alone) or draft of basis prospectus and set of final terms (MTN programme).
- Time schedule for the listing process.
- Completed basic data registration form (available under "Rules and Prices" in the top right side of this site). Alternative webbased registration on Fondsportalen.dk.