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Nasdaq (NDAQ) Introduces Mini Futures on OMXS30 With Nordnet

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Nasdaq, Inc. (NDAQ - Free Report) declared that Mini OMXS30 Futures is available for trading on Nasdaq Stockholm since Sep 3, 2020. These new contracts are based on OMXS30, which is the leading share index of Stockholm Stock Exchange and consists of the 30 most actively traded stocks on Nasdaq Stockholm in the Nordic region. Shares of Nasdaq lost 5.1% in the last couple of days’ trading.

The Mini OMXS30 Futures contract is a standardized futures contract with a smaller notional value of a tenth of the size of the standard OMXS30 Futures contract. It enables more granular hedging possibilities and a lower entry barrier to the listed futures market in terms of capital. It supplements the standard OMXS30 index future.

Nordnet will be the first bank to offer trading in the new product to its customers. With the help of Nasdaq, Nordnet has been able to lower the barriers for trading. Nordnet is a bank for investments and savings that has operations in Sweden, Denmark, Finland and Norway. The idea behind Nordnet is to give customers control of their money, and the vision is to become the best choice for savings and investments in the Nordics. Nordnet is the largest online bank in the Nordic region, with over 450,000 customers.

The launch of Mini OMXS30 Futures contract will provide an affordable way for market participants to gain access to the most actively traded benchmark index in the Nordic region. Also, investors will get the opportunity to manage risks while further adding to liquidity.

In Europe, Nasdaq offers trading in derivatives, such as stock options, futures, index options and futures. Its Index business continues to demonstrate strong resilience and growth due to continued growth in the volumes of Nasdaq-listed futures. Higher volumes of futures trading enhance index revenues, which is one of the important components of the Information Service segment. Revenue growth at this segment increased at a two-year (2017 – 2019) CAGR of 15.1% and the momentum continued in the first half of 2020 as well with 29.4% growth in index revenues.

Shares of this Zacks Rank #3 (Hold) stock have rallied 26.6% in the past year against the industry’s decline of 2.3%. Solid fundamentals should help the stock retain the momentum.

Stocks to Consider

Some better-ranked stocks from the finance sector include MarketAxess Holdings Inc. (MKTX - Free Report) , OTC Markets Group Inc. (OTCM - Free Report) and Equitable Holdings, Inc. (EQH - Free Report) , each carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

MarketAxess operates an electronic trading platform that enables fixed-income market participants to trade corporate bonds and other types of fixed-income instruments worldwide. It surpassed estimates in each of the last four quarters, with the average earnings surprise being 2.49%.

OTC Markets engages in the financial market business in the United States and internationally. It surpassed estimates in three of the last four quarters, with the average beat being 10.54%

Equitable Holdings operates as a diversified financial services company worldwide. It surpassed estimates in three of the last four quarters, with the average earnings beat being 13.79%.

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