Derivatives – Product Information 56/20

April 23, 2020

Exchange Notice Derivatives – Product Information 56/20

Nasdaq has decided to withdraw stressed market conditions on all Norwegian and Finnish equity derivatives as of Friday April 24, 2020.

As of Friday April 24, 2020 the remaining part of Norwegian and Finnish equity derivatives will be withdrawn from stressed market conditions.

Since Monday April 8, 2020 the following Norwegian equity derivatives; Equinor ASA, Mowi ASA, Orkla, OMXO20, Petroleum Geo-Services ASA, Subsea 7 S. A., Telenor ASA and Finnish equity derivatives; Nokia, Nokian Tyres, Outotec, Stora Enso R, UPM-Kymmene, Wärtsilä, YIT-Yhtymä has been under normal market conditions with normal spread requirements for market makers

Norwegian: Normal Spread requirements

Bid price Max spread <3 Max spread >3 All underlying except months to months to underlying in table 2, 3 expiration expiration and 4

< 2 0.60 1.20 EQNR SUBC

< 10 1.25 2.50 MOWI TEL

< 20 1.75 3.50 OMXO20

< 30 2.50 5.00 ORKN

> 30 3.00 6.00 PGS

Finnish: Normal Spread requirements

Bid price Max spread All underlying except underlying in table 2

< 0.2 0.10 NRE1V3

< 1 0.15 OTE1V3

< 2 0.30 WRT1V3

< 3 0.40 YTY1V3

> 3 0.50

NASDAQ DERIVATIVES MARKETS • Secondary name to NASDAQ Stockholm AB • SE-105 78 Stockholm • SWEDEN • Tel. + 46 8 405 60 00 Fax +46 8 405 60 01 • Copenhagen Office: P.O. Box 1040 • DK-1007 Copenhagen K • DENMARK • Tel. +45 33 93 33 66 • Fax +45 33 12 86 13 Helsinki Office: P.O. Box 361 • FI- 00131 Helsinki • FINLAND • Tel. +358 9 6166 71 • Fax +358 9 6166 7368 • Reg. No. 556383-9058

As of Friday April 24, 2020 the remaining part of Norwegian and Finnish equity derivatives will be withdrawn from stressed market conditions. These Norwegian and Finnish equity derivatives will have different temporary spread requirements for market makers, in accordance with the market making agreements.

Norwegian: New normal temporary Spread requirements

Bid price Max spread <3 Max spread >3 Underlying months to months to expiration expiration

<2 1.20 2.40 AKERBP FRO NOFI XXL

<8 2.50 5.00 AKSO GJF REC YAR

<20 3.50 7.00 BAKKA NAS SCHA

<30 5.00 10.00 DNB NHY STB

>30 6.00 12.00 DNO NOD TGS

Finnish: New normal temporary Spread requirements

Bid price Max spread Underlying

< 0.2 0.20 HUH1V3 OUT1V3

< 1 0.30 KNEBV3

< 2 0.60 KRA1V3

< 3 0.80 MEO1V3

> 3 1.00 METSB3

Stressed market conditions in derivatives is called for when the underlying asset to a derivative experience high and short term intraday volatility or when other factors causes high uncertainty in the pricing of derivatives. When stressed market is called for it means that market makers are allowed to quote prices with double the normal spread.

For further information concerning this exchange notice please contact product manager Mikael Siewertz, telephone +46 8 405 60 00.