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Rules and Regulations

Nasdaq Copenhagen

- København Fondsbørs

Nasdaq Copenhagen is a regulated market licensed in Denmark. Trading at Nasdaq Copenhagen is governed by the Issuer Rules, the Member Rules and the Warrant Rulebook. Nasdaq Copenhagen also operates First North, an Alternative Marketplace in Denmark that is subject to a separate Rulebook.

Issuer rules

- Regler for udstedere

Listing requirements are a vital part of a listing. There are requirements to become listed as well as ongoing requirements that need to be fulfilled while the company is listed. Disclosure rules regulate the procedures on when and how listed companies disclose information to the market. All information that is likely to materially influence the valuation of a listed company must be published in a way that ensures that it reaches all market participants simultaneously. The rules for issuers with regards to shares are in substance harmonized between all four (4) exchanges, especially the listing requirement and disclosure rules.

Effective Date

Rules for issuers of shares

Regler for udstedere af aktier

3 Jul 2016

Rules for issuers of investment undertakings
Regler for udstedere af investeringsbeviser

Regler for udstedere af UCITS-andele
1 Jun 2017
Vejledning ved anmodning om suspension - investeringsbeviser
Rules for Issuers of ETF's
Regler for udstedere af ETF

Rules for issuers of bonds

Regler for udstedere af obligationer

3 Jul 2016

Vejledning vedrørende Markedsinformationer om danske realkreditobligationer

Regler for udstedere af AIF-beviser
5 Sep 2016
Issuance of shares in companies already admitted to trading on Nasdaq Copenhagen or First North
Udstedelse af aktier i selskaber, der allerede er optaget til handel på Nasdaq Copenhagen henholdsvis First North

Corporate Governance

The Committee on Corporate Governance is an independent committee established by the Danish Commerce and Companies Agency. The Committee's task is to define the framework for corporate governance of companies that are admitted to trading on Nasdaq Copenhagen A/S. The Committee is composed of CEO Lars Frederiksen (Chairman), chairman Jørn P. Jensen (Vice Chairman), CEO Dorrit Vanglo, CEO Bjørn Sibbern, chairman Ole Andersen, chairman Ole Andersen, lawyer Rikke Schiøtt Petersen, auditor Per Gunslev and CEO Karen Frøsig.

For more information

For Corporate Governance recommendations, please visit this page.

Corporate Governance

Komitéen for god selskabsledelse er en uafhængig komité, der er etableret af Økonomi- og Erhvervsministeriet. Komitéen har til opgave at udstikke rammerne for god selskabsledelse for selskaber, der er optaget til handel på Nasdaq Copenhagen A/S. Komitéen er bestående af bestyrelsesformand Lars Frederiksen (formand), bestyrelsesmedlem Jørn P. Jensen (næstformand), direktør Dorrit Vanglo, adm. direktør Bjørn Sibbern, bestyrelsesformand Ole Andersen, bestyrelsesformand Jens Due Olsen, advokat Rikke Schiøtt Petersen, statsautoriseret revisor Per Gunslev og adm. direktør Karen Frøsig. Sekretariat: Erhvervs- og Selskabsstyrelsen

For yderligere oplysninger se:
For mere information vedrørende Corporate Governance anbefalingerne, venligst klik her.

Member Rules

Please note that the Member Rules are harmonized for the Nordic exchanges and found under the heading “Common Rules”.

First North

Issuers on First North are subject to the rules of First North but not the requirements for admission to trading on a regulated market. The rules are the same in all First North markets, except for a few, smaller differences due to national law. Please note that the First North Rules are found under the heading "Common Rules".

Warrants & Certificates

- Regler for udstedere af warrants og certifikater

Valid from
Nasdaq Nordic Warrant Rulebook

3 July 2016
Contact Us
Office of General Counsel - Head of Legal Nordic/Baltic
Jimmy Kvarnström, Vice President, Nordic/Baltic legal unit
For older rule or market model versions, please email
Zivilé Slavinskaité,
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