EU financial markets are regulated by the Markets in the Financial Instruments Directive (MiFID) and Markets in Financial Instruments Regulation (MiFIR). The main purpose of both MiFID and MiFIR (MiFID/MiFIR) is set out below.
The full text of the MiFID Directive and MiFIR Regulation can be viewed in detail via the website of The European Securities and Markets Authority (ESMA).
Nordea will update its policies, procedures, documentation, terms of business, terms and conditions for trading financial instruments if required due to regulatory change. You can find the current and up to date policies, procedures, terms of business and terms and conditions here.
You will be given more detailed information on the costs you incur when you deal with us. In practice, for instance, we will send you an annual report detailing all the costs you have paid, in euros and as a percentage of your transactions with us. We will also always inform you of the costs involved when conducting any transaction and costs will be itemised in more detail than at present.
The new transaction reporting regulations introduces a requirement on firms to indicate where a transaction is a short sale. This is relevant for trades in sovereign debt and shares admitted to trading on a trading venue. In these products you need to disclose to Nordea whether you are selling short.
Nordea acts as a Systematic Internaliser (SI) for the following products:
(i) Shares traded on a trading venue in Denmark, Finland, Sweden and Norway;
(ii) ETFs traded on a trading venue in Denmark and Sweden
Nordea’s standards, when acting as SI in the above mentioned financial instruments, for governing access to quotes as required by MiFIR to its customers and the public, can be found in Nordea’s public Commercial Policy.
Nordea is a registered Designated Publishing Entity (DPE) for the following asset classes:
(i) Shares
(ii) ETFs
(iii) Depository receipts
(iv) Other equity like financial instruments
(v) Bonds
(vi) Interest Rate Derivatives
(vii) Credit Derivatives
Nordea as a registered DPE will be responsible for making transactions public through an approved publication arrangement (APA) in accordance with the detailed MiFIR regulation for post trade transparency disclosure requirements.
Legal Entity Identifiers (LEIs) are mandatory for execution of MiFID / MiFIR products. Nordea may only trade with clients as trading counterparties that have a valid LEI code registered in our trading systems. If clients do not have a LEI code, they may and will not be able to trade with us. Please note that the requirement to have a LEI code also applies to individuals that enter into trades or make investment decisions at the client’s company.
More information on how to obtain an LEI code can be found here.
Nordea’s Legal Entity Identifier code:
| Nordea Bank Abp | 529900ODI3047E2LIV03 |
If you have any questions in regard to MiFID/MiFIR or its impact on our working relationship, please do not hesitate to contact your Nordea Markets Sales representative.
More information about MiFID/MiFIR information on our local websites:
The information provided within this website is intended for background information only. The views and other information provided herein are the current views of Nordea Markets as of the date of publication and are subject to change without notice. The information provided within this website is not an exhaustive description of the described product or the risks related to it, and it should not be relied on as such, nor is it a substitute for the judgement of the recipient.
The information provided within this website is not intended to constitute and does not constitute investment advice nor is the information intended as an offer or solicitation for the purchase or sale of any financial instrument. The information provided within this website has no regard to the specific investment objectives, the financial situation or particular needs of any particular recipient. Relevant and specific professional advice should always be obtained before making any investment or credit decision. It is important to note that past performance is not indicative of future results.
Nordea Markets is not and does not purport to be an adviser as to legal, taxation, accounting or regulatory matters in any jurisdiction.
The information provided within this website may not be reproduced, distributed or published for any purpose without the prior written consent from Nordea Markets.