Oslo Børs APA

In 2017, Oslo Børs received a license from Finanstilsynet (the Financial Supervisory Authority  of Norway) to offer services as Approved Publication Arrangement (APA). The license to publish APA trades includes equities, fixed income and derivative instruments. The publication arrangement was introduced as part of the MiFID II regulations.

According to MiFID II, all trades that are entered Over the Counter (OTC) or through a Systematic Internalizer (SI) must be published through a licensed APA, such as the Oslo Børs APA. It is the investment firm that enters the trade that is responsible for the publication of the trade, as well as choosing which APA to use.

MiFID II allows different models of delayed publication. It is up to the investment firm to choose whether the trade is to be published with a delay or with immediate effect when reporting the trade. The APA will keep records of necessary information based on the registration by the investment firm. If the trade has been reported as a delayed publication, the Oslo Børs APA will verify that the criteria for delayed publication is met. The trade will then be published automatically by the APA as soon as the deadline is reached.

The Oslo Stock Exchange offers an APA solution integrated with our trading system. This allows our customers to use a familiar system for their trade publication, whether the trade is conducted through an Oslo Børs marketplace or entered into outside the exchange framework. Information vendors will also receive APA information through the same system used for on-exchange trades. As a result, all our clients have the opportunity to build cost efficient systems around the Oslo Børs APA that include familiar and state-of-the-art functionality.

 Overview of all APA-trades reported to Oslo Børs

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Bodil Østby