Nasdaq OMX Nordic launches order routing service

Source: Nasdaq OMX Nordic

Nasdaq OMX Nordic (NASDAQ:NDAQ) today launched an order routing service for the most liquid Nordic listed shares.

This new, cost-efficient order routing solution will help NASDAQ OMX Nordic members find the best price on NASDAQ OMX, or any of the main European trading venues, via one single gateway.

Hans-Ole Jochumsen, President of NASDAQ OMX Nordic said, "The Nordic marketplace is second to none in its ability to meet the demands of market participants on execution quality, offering the best price 85-90% of time. The introduction of Nordic order routing underscores our commitment to strengthen our offering further. The order router is an easy to use service that helps our members to discover better prices for their customers as well as to strengthen their own business opportunities in an environment where technology and connectivity is key."

The Nordic Order Routing service covers the most liquid CCP cleared Nordic shares and is connected to five European trading venues. In the event there are better prices on other trading venues the order is routed to the venue providing the most competitive price. The NASDAQ OMX Nordic order router utilizes low latency market data provided by Thomson Reuters Elektron to make accurate routing decisions.

The service is integrated with the core matching engine in Stockholm and is available through NASDAQ OMX Nordic members' existing connectivity. Additional routing strategies are scheduled to be rolled out in the coming months.

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