With the aim of increasing the efficiency for fund distributors and fund companies in the Nordics, Nasdaq offers the Nordic Fund Market, an electronic mutual fund service that enables straight through processing of orders and settlement.
The service gives fund distributors access to a broad choice of mutual funds through one single interface. Currently, the service covers the Swedish market for distributors, but international fund companies are welcome to register their funds to the service if they fulfill the requirement of being registered for sale in Sweden. At present there are approximately 200 connected parties with more than 4,000 mutual funds available on the Nasdaq platform.
The Nasdaq Nordic Fund Market enables fund distributors and fund companies to:
- Leverage internal resources
- Reduce risk
- Lower transaction cost
- Communicate according to existing international standard
In order to register mutual funds on the platform a distribution agreement has to be signed between Nasdaq and the fund company or the appointed distributor for the funds. All mutual funds that are registered on the platform have to be registered for sale in Sweden.
Nordic Fund Market is fully transparent with remuneration levels agreed between Nordic Fund Market and the Fund Companies and do not benefit from the remunerations paid out. The remunerations are sent in full to the Distributors connected to the Service.