Nasdaq Launches Nordic Fund Market in Finland and Norway

Nasdaq Broker Services announced the launch of Nasdaq Nordic Fund Market in Finland and Norway. The market service, available in Sweden since 2010, aims to increase the efficiency for fund distributors and fund companies by enabling electronic straight through processing of orders and settlement. Nordic Fund Market gives fund distributors access to a broad choice of mutual funds through one single interface. As of now, the service covers the Swedish, Finnish and Norwegian markets for distributors, additionally, local and international fund companies are welcome to register their funds as long their products are registered for sale in the respective countries. There are presently 200 connected fund companies with more than 5,000 mutual funds available on the Nasdaq platform. The announcement is the latest step in Nasdaq’s ambition to create a modern, effective and integrated fund market in the Nordic region, based on new and innovative market technology. Last September, Nasdaq announced a joint project together with Nordic financial services group SEB, to test a developed for mutual fund trading platform based on blockchain technology.