Spotlight Stock Market (Operating MIC XSAT) introduces Central Counterparty (CCP) solution in the INET Nordic trading system. Testing will open up in October 2024 and production go-live date is planned for December 2, 2024.
Instruments that will be CCP cleared are all "shares" on the following market segment MICs:
All CCP cleared instruments will be cleared through the following interoperating CCPs;
Details
CCP clearing for Spotlight shares will follow the same technical principles as currently used on Nasdaq Nordic markets in the INET Nordic trading system. This means that “MCF”, “LCH” or “XCLR” will be contra to any trade:
There are no changes in ISIN codes, order book ids, turnover lists/list populations or trading hours for the affected instruments.
Instruments’ CCP Eligibility is provided as part of GCF TIP reference data in BasicDataTradable, field CCPList. Updated reference data will be available via GCF.
Protocol specifications
There are no changes in INET functionalities or in any trading or market data related protocols. Reference data will be available via GCF-TIP, and existing INET protocols are used for all inbound and outbound messaging.
Current versions of INET protocol specifications are available at the Nasdaq Nordic Technical Information website under INET Nordic Protocol Specifications.
Time schedule
The following time schedule is preliminary and based on information from Spotlight. Testing with CCPs is planned according to the dates below.
Go-live is pending Spotlight’s regulatory approvals.
INET Test (NTF) and GCF TST4:
INET and GCF Production – December 2,2024
For technical questions, please contact Nasdaq Cash Equity Operations:
Nasdaq Cash Equity Operations
Tel: +46 8 405 6410
E-mail: operator@nasdaq.com
For all other questions, including questions on time schedule, please contact Spotlight:
Spotlight Trading Operations
Tel: +46 8-511 68 000
E-mail: trading@spotlightstockmarket.com
