Rules and Regulations

Nasdaq Stockholm

- Stockholmsbörsen

Nasdaq Stockholm is a regulated market licensed in Sweden. Trading at Nasdaq Stockholm is governed by the Issuer Rules, the Member Rules and the Warrant Rulebook. Nasdaq Stockholm also operates First North, an MTF in Sweden that is subject to a separate Rulebook.
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Market Abuse Regulation

On 3 July 2016, the Market Abuse Regulation, MAR entered into force. MAR is a new EU-wide regime to prevent market abuse. MAR is a fundamental framework for the obligation of issuers to disclose insider information, something that has previously been governed by national law and exchange regulation.

We invited the lawyers Erik Sjöman (Vinge), Patrik Marcelius (Mannheimer Swartling) och Björn Kristiansson (Hannes Snellman) to discuss these changes together with our Head of European Surveillance, Joakim Strid and moderator Karin Ydén, Director of Issuer Surveillance in Stockholm. Learn more about the upcoming changes and their effect for issuers in our Q&A video (in Swedish).

Q&A | MAR and the Duty to Disclose Inside Information >

Frågor och svar| MAR och skyldigheten att offentliggöra insiderinformation >

Should you have any questions, don't hesitate to contact Surveillance team in Stockholm at iss@nasdaq.com

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Issuer Rules

- Regler emittenter

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.

English
Swedish
Effective date

Rule book for Issuers

Regelverk för emittenter

8 Dec 2016

Upcoming version: Rule book for Issuers

Regelverk för emittenter

3 Jan 2018


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Regelverk för emittenter av aktier i alternativa investeringsfonder (only in Swedish)

1 Jul 2017

Trading List Rules  (only in English)


Take Over Rules
Takeover regler
1 Nov 2017
Take Over AgreementBudgivares åtagande
Guidelines for preparing interim management statementsVägledning för upprättande av delårsredogörelse1 Jan 2016

Corporate Governance 

The Swedish Code of Corporate Governance (the Code) is considered an expression of generally accepted  practice in the Swedish securities market. A listed company shall conduct its business in accordance with generally accepted practice in the Swedish securities market. As a result the Code is indirectly a part of the rules of Nasdaq Stockholm.
Swedish Corporate Governance Code »

Bolagsstyrning

Den svenska koden för bolagsstyrning (Koden) är ett uttryck för god sed på aktiemarknaden när det gäller bolagsstyrning. Börsnoterat bolag skall bedriva sin verksamhet i enlighet med god sed på aktiemarknaden och Koden ses som en kodifiering av dessa. Som en följd Koden är indirekt tillämplig en del av reglerna för Nasdaq Stockholm.
Svensk kod för bolagsstyrning »

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


Effective Date
Nasdaq Nordic Warrant Rulebook
20 Nov 2017
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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