E X C H A N G E O F
R U L E S
N A S D A Q
A N D
C L E A R I N G
D E R I V A T I V E S
R U L E S
M A R K E T S
Market Maker Fee List Table of Contents EQUITY DERIVATIVES DANISH DERIVATIVES FINNISH DERIVATIVES NORWEGIAN DERIVATIVES SWEDISH DERIVATIVES PAN-NORDIC DERIVATIVES OVERUNDER (BINARY OPTIONS) FIXED INCOME DERIVATIVES NON-PERFORMING MARKET MAKERS
The Market Maker’s number of traded contracts with respect to the different MM Levels mentioned below shall be determined by reference to the total number of contracts traded in the relevant currency and product (for example, “Stock options & Stock forwards” and “Stock index options & Stock index futures” are two separate products). That is, in terms of number of contracts traded in a particular currency and product, the Market Maker’s number of traded contracts are determined not only by contracts traded in instruments where it acts as a market maker. This is applicable to both Small and Large Market Makers.
1 JULY 2016
•
APPENDIX 3A •
FEE LIST FOR MARKET MAKE R •
PAGE 1(17)
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EQUITY DERIVATIVES
Danish derivatives Options and futures on Danish shares (DKax) traded in DKK Fee Transaction
Nordic MM: DKK 0.75 per contract MM: Stock options and Stock futures are traded according to different fee levels based on yearly accumulated volume (calendar year) MM level 1: 1 – 300 000 contracts (contracts not traded at discount fee) DKK 1.00 per contract MM level 2: 300 001 – contracts ** DKK 0.50 per contract No fee required for stock options with a premium of DKK 0.05 or less (For transactions part of an Average Price Trade , no fee is required if average premium is DKK 0.05 or less) Close-out transactions on futures are free of charge
Volume
Maximum fee is DKK 8 000 per transaction
discount stock options Volume
Maximum fee is DKK 5 000 per transaction
discount stock futures Maximum 8 000 contracts per transaction will be accumulated to Market Maker’s yearly/monthly volume. Contracts traded at no fee will not be accumulated to Market Maker’s yearly/monthly volume. Exercise and
0.03% of the exercise amount*) but not more than DKK 8 000 per position exercised
Assignment Exercise and
0.025% of the exercise amount*) but not more than DKK 8 000 per position exercised
Assignment, Nordic MM
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Danish stock index options and stock index futures (OMXC20CAP) traded in DKK Fee Transaction
Nordic MM:
and closing
DKK 0.75 per contract MM: Stock index options and Stock index futures are traded according to different fee levels based on yearly accumulated volume (calendar year) MM level 1a: 1 – 100 000 contracts (contracts not traded at discount fee) DKK 1.00 per contract MM level 1b: 100 001 – 200 000 contracts ** (contracts not traded at discount fee) DKK 0.75 per contract MM level 2: 200 001 – contracts ** DKK 0.25 per contract Contracts traded at no fee will not be accumulated to Market Maker’s yearly/monthly volume. No fee required for stock index options with a premium of DKK 0.10 or less (For transactions part of an Average Price Trade , no fee is required if average premium is DKK 0.10 or less)
Flexible contracts (DKax, OMXC20CAP) traded in DKK The fees specified above are also applicable for Flexible contracts.
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Finnish derivatives Options and forwards on Finnish shares (FIax) traded in EURO Fee Transaction
Stock options and stock forwards are traded according to different fee levels based on yearly accumulated volume MM level 1: 1 – 600 000 contracts EUR 0.10 per contract MM level 2: 600 001 – contracts ** EUR 0.05 per contract Maximum 8000 contracts per transaction will be accumulated to yearly volume
Volume
Maximum fee is EUR 800 per transaction
discount stock options Volume
Maximum fee is EUR 600 per transaction
discount stock forwards Exercise and
0.03% of the exercise amount*) but not more than EUR 800 per position exercised
Assignment
Flexible contracts (FIax) traded in EURO The fees specified above are also applicable for Flexible contracts.
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Norwegian derivatives Norwegian derivatives Revenue
NASDAQ OMX’ monthly revenues from Norwegian derivatives shall be shared with the members trading
Sharing
Norwegian derivatives in accordance with appendix 9 of the Exchange Rules.
Options (incl. Weekly Options), forwards and futures on Norwegian shares (NNOax and weekly options) traded in NOK Fee Transaction
Nordic MM: NOK 0.38 per contract Regular MM, Advanced MM, and Advanced Extra MM: Stock options, stock forwards and stock futures are traded according to different fee levels based on yearly accumulated volume (calendar year) Regular MM level 1: 1 – 400 000 contracts NOK 1.00 per contract Advanced MM level 1: 1 – 400 000 contracts NOK 0.75 per contract regarding contracts traded electronically or via MPS (the Exchange’s manual exchange trading system) NOK 1.00 per contract regarding other transactions Advanced Extra MM level 1: 1 – 400 000 contracts NOK 0.50 per contract regarding contracts traded electronically or via MPS (the Exchange’s manual exchange trading system) NOK 1.00 per contract regarding other transactions Regular, Advanced MM and Advanced Extra MM level 2: 400 001 – contracts ** NOK 0.25 per contract No fee required for stock options with a premium of NOK 0.05 or less (For transactions part of an Average Price Trade , no fee is required if average premium is NOK 0.05 or less) Close-out transactions on futures are free of charge Maximum 8 000 contracts per transaction will be accumulated to yearly volume. Contracts traded at no fee will not be accumulated to yearly volume.
Transaction,
Market Makers that have signed the Market Maker Commitment for Norwegian Single Stock Weekly options:
Weekly
NOK 0 per contract regarding contracts traded electronically or via MPS
Options Market
NOK 1.00 per contract regarding other transactions
Maker Volume
Maximum fee is NOK 8 000 per transaction
discount stock options Volume
Maximum fee is NOK 6 000 per transaction
discount stock forwards and futures Exercise and
0.03% of the exercise amount*) but not more than NOK 8 000 per position exercised
Assignment Exercise and
0.025% of the exercise amount*) but not more than NOK 8 000 per position exercised
Assignment, Nordic MM
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Norwegian stock index options and stock index futures (OMXO20) traded in NOK Fee Transaction
Nordic MM:
and closing
Options: NOK 0.45 per contract Futures: NOK 0.30 per contract Regular MM: NOK 0.60 per contract Advanced MM: (contracts not traded at discount or BTF fees) NOK 0.45 per contract regarding contracts traded electronically or via MPS (the Exchange’s manual exchange trading system) NOK 0.60 per contract regarding other transactions and closing Advanced Extra MM: (contracts not traded at discount or BTF fees) Options NOK 0.45 per contract regarding contracts traded electronically or via MPS (the Exchange’s manual exchange trading system) NOK 0.60 per contract regarding other transactions and closing Futures NOK 0.30 per contract regarding contracts traded electronically or via MPS (the Exchange’s manual exchange trading system) NOK 0.60 per contract regarding other transactions and closing No fee required for stock index options with a premium of NOK 0.10 or less (For transactions part of an Average Price Trade , no fee is required if average premium is NOK 0.10 or less)
Fee holiday: No fee for index options and futures until December 31, 2016. Flexible contracts (NNOax, OMXO20) traded in NOK The fees specified above are also applicable for Flexible contracts.
Fee holiday: No fee for index options and futures until December 31, 2016.
Discontinued Advanced Market Maker (AMM) undertaking: If the AMM chooses to discontinue its undertaking and choose another MM undertaking in lieu of the AMM undertaking the number of traded contracts used for the volume rebate will be set to zero at the start of the new undertaking.
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Swedish derivatives Options (incl. Weekly Options), forwards and futures on Swedish shares and Exchange Traded Funds (SEax, SDB, SEetf and weekly options) traded in SEK Fee Transaction,
NMM level 1: SEK 0.38 per contract
Nordic MM
NMM level 2: SEK 0.36 per contract NMM level 2 fee is charged during the quarter following a calendar quarter in which the Nordic MM reaches both the below volume thresholds: Danish stock and stock index derivatives: 60 000 traded contracts (excluding contracts free of charge) Norwegian stock and stock index derivatives: 60 000 traded contracts (excluding contracts free of charge)
Transaction
Options, forwards and futures are traded according to different fee levels based on yearly accumulated volume
(Annual
(calendar year)
Market Maker
Regular MM level 1: 1 – 2 000 000 contracts
Fee Model)
SEK 1.00 per contract Advanced MM level 1a: 1 – 1 000 000 contracts SEK 0.75 per contract regarding contracts traded electronically or via MPS (the Exchange’s manual exchange trading system) SEK 1.00 per contract regarding other transactions Advanced MM level 1b: 1 000 001 – 2 000 000 contracts ** SEK 0.50 per contract regarding contracts traded electronically or via MPS SEK 0.75 per contract regarding other transactions Regular and Advanced MM level 2: 2 000 001 – contracts ** SEK 0.25 per contract
Transaction
Options, forwards and futures are traded according to different fee levels based on monthly accumulated volume
(Monthly
(calendar month)
Market Maker
Regular MM level 1: 1 – 180 000 contracts
Fee Model)
SEK 1.00 per contract Advanced MM level 1a: 1 – 90 000 contracts SEK 0.75 per contract regarding contracts traded electronically or via MPS (the Exchange’s manual exchange trading system) SEK 1.00 per contract regarding other transactions Advanced MM level 1b: 90 001 – 180 000 contracts SEK 0.50 per contract regarding contracts traded electronically or via MPS SEK 0.75 per contract regarding other transactions Regular and Advanced MM level 2: 180 001 – contracts SEK 0.25 per contract
Transaction,
Market Makers that have signed the Market Maker Commitment for Swedish Single Stock Weekly options:
Weekly
SEK 0 per contract regarding contracts traded electronically or via MPS
Options Market
SEK 1.00 per contract regarding other transactions
Maker Volume
Maximum fee is SEK 8 000 per transaction
discount stock options Volume
Maximum fee is SEK 6 000 per transaction
discount stock forwards and futures
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No fee required for options with a premium of SEK 0.05 or less (For transactions part of an Average Price Trade , no fee is required if average premium is SEK 0.05 or less) Close-out transactions on futures are free of charge Maximum 8 000 contracts per transaction will be accumulated to Market Maker’s yearly/monthly volume. Contracts traded at no fee will not be accumulated to Market Maker’s yearly/monthly volume. Exercise and
0.03% of the exercise amount*) but not more than SEK 8 000 per position exercised
Assignment Exercise and
0.025% of the exercise amount*) but not more than SEK 8 000 per position exercised
Assignment, Nordic MM
Swedish stock index options (monthly and weekly) and stock index futures (OMXS30, OMXSB) traded in SEK Fee Transaction
NMM level 1: SEK 0.75 per contract
and closing,
NMM level 2: SEK 0.70 per contract
Nordic MM
NMM level 2 fee is charged during the quarter following a calendar quarter in which the Nordic MM reaches both the below volume thresholds: Danish stock and stock index derivatives: 60 000 traded contracts in calendar quarter Norwegian stock and stock index derivatives: 60 000 traded contracts in calendar quarter
Transaction
Stock index options and Stock index futures are traded according to different fee levels based on yearly
and closing
accumulated volume (calendar year)
(Annual
Regular MM level 1: 1 – 1 000 000 contracts
Market Maker
(contracts not traded at discount fees)
Fee Model)
SEK 2.00 per contract Advanced MM level 1: 1 – 1 000 000 contracts (contracts not traded at discount fees) SEK 1.50 per contract regarding contracts traded electronically or via MPS (the Exchange’s manual exchange trading system) SEK 2.00 per contract regarding other transactions SEK 0.25 per index option contract if preceding calendar year’s total volume (contracts not traded at discount fees) exceeded 3 000 000 index option contracts*** SEK 0.50 per index option contract if preceding calendar year’s total volume (contracts not traded at discount fees) exceeded 2 500 000 index option contracts*** Regular and Advanced MM level 2: 1 000 001 – contracts ** SEK 0.25 per contract SEK 0.50 per index option contract if preceding calendar year’s total volume (contracts not traded at discount fees) exceeded 2 500 000 index option contracts***
Transaction
Stock index options and Stock index futures are traded according to different fee levels based on monthly
and closing
accumulated volume (calendar month)
(Monthly
Regular MM level 1: 1 – 100 000 contracts
Market Maker
(contracts not traded at discount fees)
Fee Model)
SEK 2.00 per contract Advanced MM level 1: 1 – 100 000 contracts (contracts not traded at discount fees) SEK 1.50 per contract regarding contracts traded electronically or via MPS (the Exchange’s manual exchange trading system) SEK 2.00 per contract regarding other transactions
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Regular and Advanced MM level 2: 100 001 – contracts SEK 0.25 per contract No fee required for stock index options with a premium of SEK 0.10 or less (For transactions part of an Average Price Trade , no fee is required if average premium is SEK 0.10 or less) Fee for stock index options is capped at 5 000 contracts per transaction. If a Market Maker Undertaking (i.e. Appendix A to Market Making Undertakings in Swedish Instruments) has been signed for both weekly and monthly index options (OMXS30), the volumes will be aggregated to one accumulated volume per calendar year. Note: To be eligible for Market Maker fees for weekly index options (OMXS30), the Market Maker has to sign and fulfill the requested Market Maker Undertaking (i.e. Appendix A to Market Making Undertakings in Swedish Instruments) for such contract type. Specific
In addition to any requirements set out in the Market Maker Agreement and the Market Maker Undertaking, a
volume
Market Maker must meet at least one of the two below volume thresholds in each calendar quarter to be entitled
requirements
to the fees listed above in this appendix (Swedish stock index options (monthly and weekly) and stock index
for Swedish
futures (OMXS30, OMXSB) traded in SEK). A Market Maker that does not fulfill this requirement in a specific
stock index
calendar quarter will be charged the proprietary fees for Swedish stock index options and Swedish stock index
options and
futures set out in Appendix 3B (Proprietary Fee list) during the two subsequent calendar quarters. The fees in the
Swedish stock
Proprietary Fee list will apply for the two subsequent calendar quarters regardless of the Market Maker during
index futures
these two calendar quarters fulfills the requirement. However, after such two calendar quarters and provided that the Market Maker meets the requirement the Market Maker shall be entitled to the fees listed above in this appendix, Minimum required volumes for Market Makers: Threshold 1: A Market Maker must trade a minimum of 50 000 Swedish stock index option contracts on its Market Maker Accounts during a calendar quarter. Threshold 2: A Market Maker’s number of Swedish stock index option contracts traded on its Market Maker Accounts during one calendar quarter must exceed 10% of the Market Maker’s total number of traded Swedish stock index futures contracts during the same quarter. Stock index options traded at no fee will not be included in traded volumes
Swedish stock index dividend futures (OMXS30DVP) traded in SEK Fee Transaction and closing
Stock index dividend futures are traded according to different fee levels based on yearly accumulated volume (calendar year). MM level 1: 1 – 50 000 contracts SEK 0.50 per contract MM level 2: 50 001 – contracts ** SEK 0.25 per contract Fee for stock index dividend futures is capped at 5 000 contracts per transaction. Stock index dividend futures traded at no fee will not be included in accumulated yearly volume. Note: To be eligible for Market Maker fees for stock index dividend futures (OMXS30DVP), the Market Maker has to sign and fulfill the requested Market Maker Undertaking for such contract type.
Flexible contracts (SEax, SDB, OMXS30, OMXSB) traded in SEK
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The fees specified above are also applicable for Flexible contracts. Switch between monthly and yearly fee model: Should the Market Maker choose to change fee model from the monthly to the yearly MM fee model the number of traded contracts used for the volume rebate will be set to zero at the implementation of the new fee model. Discontinued Advanced Market Maker (AMM) undertaking: If the AMM chooses to discontinue its undertaking and choose another MM undertaking in lieu of the AMM undertaking the number of traded contracts used for the volume rebate will be set to zero at the start of the new undertaking.
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Pan-Nordic derivatives Nordic stock index options and stock index futures traded in EURO Fee Transaction
Stock index options and Stock index futures are traded according to different fee levels based on yearly
and closing,
accumulated volume
VINX30
MM level 1: 1 – 1 000 000 contracts EUR 0.15 per contract MM level 2: 1 000 001 – contracts ** EUR 0.03 per contract
Flexible contracts (VINX30) traded in EURO The fees specified above are also applicable for Flexible contracts.
OverUnder (Binary options) OverUnder (Binary options) No fee for Market Makers with quoting obligations in binary options. No fee applies only to binary options on underlying instruments where the MM has quoting obligations. Fees in binary options on underlying instruments where the MM does not have a quoting obligation can be found in Appendix 14. Fees for members without quoting obligations in binary options can be found in Appendix 14.
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Fixed Income Derivatives Fixed income products (OMr) - Market Maker Fee Transaction Fees for proprietary transactions by account holders who are associated as quoters on the fixed income derivatives markets. New fee levels are only applied on fees in relation to events that occur after the day when the respective threshold has been reached. Fees for standardized derivatives as specified in relevant tables below are expressed as one of the following fee types: Yield/BP: Trade Yield Raised/lowered with basis points CCY/Contract: Currency units in respective fee currency and per contract. Standardized Derivatives Transaction and Closing fee Product Fee CCY Fee Type Base Fee Level 1 Fee Level 2 Fee Level 3 Fee Swedish Government bond futures SGB2Y SEK Yield/BP 0,012 0,009 0,006 0,003 SGB5Y SEK Yield/BP 0,012 0,009 0,006 0,003 SGB10Y SEK Yield/BP 0,012 0,009 0,006 0,003 >10.000 >20.000 >50.000 Nbr of Contracts in same series to reach new fee level: Swedish Mortgage bond futures STH2Y SEK Yield/BP 0,006 0,0045 0,003 NDH2Y SEK Yield/BP 0,006 0,0045 0,003 SWH2Y SEK Yield/BP 0,006 0,0045 0,003 STH5Y SEK Yield/BP 0,006 0,0045 0,003 NDH5Y SEK Yield/BP 0,006 0,0045 0,003 SWH5Y SEK Yield/BP 0,006 0,0045 0,003 SCBC5Y SEK Yield/BP 0,006 0,0045 0,003 >10.000 >20.000 Nbr of Contracts in same series to reach new fee level: Danish Mortgage bond futures MBF DKK CCY/Contr 15 12 9 >2.500 >5.000 Nbr of MBF contracts per month to reach new fee level: ** Max Closing fee 10,000 DKK per series * Max Delivery fee 25,000 SEK per series
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Delivery fee Fee Type Fee CCY/Contr CCY/Contr CCY/Contr
65 65 65
* * *
CCY/Contr CCY/Contr CCY/Contr CCY/Contr CCY/Contr CCY/Contr CCY/Contr
65 65 65 65 65 65 65
* * * * * * *
CCY/Contr
15
**
E X C H A N G E O F
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M A R K E T S
Standardized Derivatives Transaction and Closing fee Product Fee CCY Fee Type Base Fee Level 1 Fee STIBOR FRA forwards FRA SEK Yield/BP 0,039 0,025 >100.000 Nbr of Contracts in same series to reach new fee level: NIBOR FRA forwards 3NFRA NOK Yield/BP 0,039 0,025 6NFRA NOK Yield/BP 0,025 >100.000 Nbr of Contracts in same series to reach new fee level: STIBOR FRA futures 3STIBFRA SEK Yield/BP 0,039 0,025 >500.000 Nbr of 3STIBFRA contracts per year to reach new fee level: NIBOR FRA futures 3NIBFRA NOK Yield/BP 0,039 0,025 6NIBFRA NOK Yield/BP 0,025 >500.000 Nbr of 3NFRA contracts per year to reach new fee level: CIBOR futures CIBOR DKK CCY/Contr 1 0,8 >50.000 Nbr of CIBOR contracts per month to reach new fee level: RIBA futures RIBA SEK CCY/Contr 1 0,8 >200.000 Nbr of RIBA contracts per year to reach new fee level: Options on STIBOR FRA forwards and futures FRA, 3STIBFRA option SEK CCY/Contr 0,35 Options on NIBOR FRA forwards and futures 3NFRA, 3NIBFRA option NOK CCY/Contr 0,35 6NFRA, 6NIBFRA option NOK CCY/Contr 0,35 Options on Government Bond futures SGB2Y option SEK CCY/Contr 1 SGB5Y option SEK CCY/Contr 2,5 SGB10Y option SEK CCY/Contr 3,5
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New fee levels are only applied on fees in relation to events that occur after the day when the respective threshold has been reached. Fees for REPO Contracts are expressed in respective fee currency and calculated as (fee x SC x d/360) Buy-sell-back/Sell-buy-back REPO Contracts Transaction fee Product Fee CCY Base Fee Level 1 Fee Level 2 Fee REPO in Swedish Listed Bonds SEK Repo SEK 0,00005 0,00004 0,00003 * Amount of Yearly accumulated Repo Fees to reach next fee level:
DKK Repo
>1.000.000 REPO in Danish Listed Bonds 0,00005 * Minimum fee per trade is 25.00 SEK * Minimum fee per trade is 20.00 DKK
DKK
>2.000.000 **
Fees for Generic Rates Instruments are expressed in currency units in respective fee currency and per million notional Generic Rates Instruments Transaction fee Settlement fee Fee Base Level 1 Level 2 Level 3 Base Level 1 Level 2 Level 3 Product CCY Fee Fee Fee Fee Fee Fee Fee Fee SEK IRS SEK 3 2,25 1,8 0,9 1,5 1,125 0,9 0,45 SEK OIS SEK 1 0,75 0,6 0,3 1 0,75 0,6 0,3 SEK FRA SEK 1 0,75 0,6 0,3 1 0,75 0,6 0,3 EUR IRS 3M EUR 3 2,25 1,8 0,9 1,5 1,125 0,9 0,45 EUR IRS 6M EUR 3 2,25 1,8 0,9 3 2,25 1,8 0,9 EUR FRA 3M EUR 1 0,75 0,6 0,3 1 0,75 0,6 0,3 EUR FRA 6M EUR 1 0,75 0,6 0,3 1 0,75 0,6 0,3 DKK IRS 3M DKK 3 2,25 1,8 0,9 1,5 1,125 0,9 0,45 DKK IRS 6M DKK 3 2,25 1,8 0,9 3 2,25 1,8 0,9 DKK FRA 3M DKK 1 0,75 0,6 0,3 1 0,75 0,6 0,3 DKK FRA 6M DKK 1 0,75 0,6 0,3 1 0,75 0,6 0,3 NOK IRS 6M NOK 3 2,25 1,8 0,9 3 2,25 1,8 0,9 NOK FRA 6M NOK 1 0,75 0,6 0,3 1 0,75 0,6 0,3 Amount of yearly accumulated fees for Generic Rates Instruments to reach next fee level: See the Generic Rates Instrument Discount model below.
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Generic Rates Instruments Discount Model Generic Rates Instruments
Products included Accounts Included
R U L E S
Accounts held by holders who are associated as quoters on the fixed income markets. Threshold >2.000.000 >4.000.000 >6.000.000
Level 1 Level 2 Level 3
Discount on Base Fee 25% 40% 70%
General Information Regarding Generic Rates Instruments Discount Model The Discount model is automatically applied on all accounts covered by this fee list and trading the Generic Rates Instruments. Discount is granted when the aggregated paid Transaction and Settlement fees per instrument, currency and clearing account during a calendar year amount to the specified threshold per year. Discount is applied to both settlement and transaction fees Discount is only applied on fees in relation to events that occur after the day when the respective threshold has been reached. The discounted fees are reset annually, i.e. at the start of each calendar year the ordinary base fees for transaction and settlement are applied.
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NON-PERFORMING MARKET MAKERS Non-performing Market Makers In the event that the market maker does not fulfill its quoting obligations, the Market Maker shall during the month in question pay an extra fee according to the table below. The fee is based on the number of contracts traded by the Market Maker and the level of fulfillment (quoted in per cent). The fee level per contract depends on how many consecutive months the obligations have not been fulfilled. Stock index options & Stock index futures
Month Nordic MM
1
2
3
4
0.20 per
0,30 per
Prop fee
contract
contract
0,20 per
0,30 per
0,40 per
contract
contract
contract
0,30 per
0,40 per
0,50 per
contract
contract
contract
% Quoted
SEK
% Quoted 75-80
50-75
< 50
75-80
Warning
50-75
< 50
Nordic MM
% Quoted
Prop fee
Prop fee
DKK
% Quoted 75-80
50-75
< 50
70-75
Warning
50-70
< 50
Nordic MM
0.10 per
0,15 per
contract
contract
0,10 per
0,15 per
0,20 per
contract
contract
contract
0,15 per
0,20 per
0,25 per
contract
contract
contract
% Quoted
Prop fee
Prop fee
Prop fee
NOK
% Quoted 75-80
70-75
50-75
50-70
< 50
< 50
Stock options & Stock forwards/futures
Month Nordic MM
Warning
0.10 per
0,15 per
contract
contract
0,10 per
0,15 per
0,20 per
contract
contract
contract
0,15 per
0,20 per
0,25 per
contract
contract
contract
1
2
Prop fee
Prop fee
Prop fee
3
4
0.10 per
0,15 per
Prop fee
contract
contract
0,10 per
0,15 per
0,20 per
contract
contract
contract
0,15 per
0,20 per
0,25 per
contract
contract
contract
% Quoted
SEK
% Quoted 75-80
50-75
< 50
Nordic MM
75-80
50-75
< 50
% Quoted
Warning
DKK
% Quoted
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AP PENDI X 3 A • FEE LIST FOR MARKET MAKER
• P A G E 1 6 ( 18)
Prop fee
Prop fee
E X C H A N G E O F
75-80
50-75
< 50
R U L E S
N A S D A Q
70-75
50-70
< 50
A N D
C L E A R I N G
D E R I V A T I V E S
Warning
M A R K E T S
0.10 per
0,15 per
contract
contract
0,10 per
0,15 per
0,20 per
contract
contract
contract
0,15 per
0,20 per
0,25 per
contract
contract
contract
% Quoted 70-75
50-70
< 50
Nordic MM
R U L E S
Prop fee
Prop fee
Prop fee
EUR Warning
0.01 per
0,015 per
contract
contract
0,01 per
0,015 per
0,02 per
contract
contract
contract
0,015 per
0,02 per
0,025 per
contract
contract
contract
% Quoted
Prop fee
Prop fee
Prop fee
NOK
% Quoted 75-80
50-75
< 50
70-75
50-70
< 50
Warning
0.10 per
0,15 per
contract
contract
0,10 per
0,15 per
0,20 per
contract
contract
contract
0,15 per
0,20 per
0,25 per
contract
contract
contract
Note: The above NOK fees are currently only applicable to Nordic Market Makers
21 SEPTEMBER 2016
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AP PENDI X 3 A • FEE LIST FOR MARKET MAKER
• P A G E 1 7 ( 18)
Prop fee
Prop fee
Prop fee
E X C H A N G E O F
R U L E S
N A S D A Q
A N D
C L E A R I N G
D E R I V A T I V E S
R U L E S
M A R K E T S
Non-performing Nordic MM: Non-performing Nordic MM Fee according to the above table for contracts traded in market segment where quoting obligations are not fulfilled. An extra non-performing fee is charged on contracts traded in Swedish derivatives, according to the below. The extra non-performing fee is not charged if, according to table above, for the failed market segment the Nordic MM is given a warning only. Failed market segment
% Quoted
Fee per contract, Swedish index derivatives (per failed market segment) SEK
Danish index options
75-80
0.02
Norwegian index options
50-75
0.04
< 50
0.06
Swedish index weekly options Failed market segment
% Quoted
Fee per contract, Swedish stock derivatives (per failed market segment) SEK
Danish stock options
75-80
0.01
Norwegian stock options
50-75
0.02
< 50
0.03
Swedish stock weekly options Norwegian stock weekly options
* = Fee is calculated per contract and is rounded off to three (3) decimals ** = Fee applies from the day following the day the MM level was exceeded *** = including index weekly options only if designated MM in index weekly options
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AP PENDI X 3 A • FEE LIST FOR MARKET MAKER
• P A G E 1 8 ( 18)
