Features

SOLD OUT BUY BACK
Sold Out Buy Back (SOBB) – New order status for sold out securities.

  • Only the Market Maker can buy back the security
  • Investors will only be able to sell the security to the market maker

NGM introduces the new safe-guard (SOBB) in order to prevent clients from trading at unfair prices.

BEST PRICE MATCH
On NDX, execution occur at the most advantageous price for the customer against the market maker. This is applicable in cases of:

  • Multi-day orders
  • Severe rate fluctuations
  • Temporary absence from market maker.

One example of selling: You hold a warrant and the market maker offers to buy at SEK 3 and sell at SEK 4. You have placed an order to sell your warrant at SEK 5. A severe rate fluctuation occurs and the market maker’s next price is SEK 6 against SEK 7. On NDX you get to sell your warrant at SEK 6, which is SEK 1 more than you were initially willing to buy for. The practice on many other exchanges is that you would sell your warrant at SEK 5.

One example of bidding: You hold a bull certificate and the market maker offers to buy the certificate at SEK 8 and sell it at SEK 9. You have placed an order to buy at SEK 7. A severe rate fluctuation occurs and the market maker’s next price for the certificate is SEK 3 against SEK 4. On NDX you get to buy the certificate at SEK 4, which is SEK 3 less than you were initially willing to sell at. The practice on many other exchanges is that you would buy your certificate at SEK 7.

KNOCK OUT BUY BACK
Get back the residual value immediately in a knock-out product.For knock-out products with a residual value, issuers can now choose to buy back the product during the current trading day. This means that investors have the option of receiving the residual value immediately, instead of having to wait ten trading days. As a holder of a knock-out product with a residual value, you may only sell it back at the price offered by the issuer. Product types for which this feature is available include Mini Futures and Turbo Warrants, where strike is separate from knock-out level. You can see if the feature is activated for an instrument in its detailed view.