The majority of trading in Swedish Fixed income products is done between banks (Primary dealers) and institutional investors. The reported turnover in the Swedish Fixed Income Market averaged over 45 000 MSEK per day for the year of 2008 (repos excluded). Long-term interest rates are mainly traded in Government bonds, Mortgage Bonds and futures contracts for these bonds. During 2008 the average turnover was more than 31 000 MSEK per day in bond futures contracts cleared by NASDAQ OMX Stockholm. In addition to this, trading is also done in corporate bonds, Interest Rate Swaps and different types of structured products.

Short-term interest rates are mainly traded in IMM-FRA contracts and T-bills. Trading in short term interest rates is also done in commercial papers, deposits and repos. During 2008 the average number of cleared short-term interest rate contracts was over 60 000 MSEK.

NASDAQ OMX Swedish Fixed Income Market

The Swedish Fixed Income Markets have several submarkets in the NASDAQ OMX trading system, Saxess:

• Interbank Trading in 2, 5 and 10 year Government Bonds for Primary Dealers
• The Swedish National Debt Office Auctions
• The Bulletin Board Market for reporting and indicative pricing
• The retail market for trading in retail bonds

NASDAQ OMX also delivers other market place services to the Swedish Fixed Income market. For example:

• STIBOR fixing »
• NASDAQ OMX Swap fixing »
• Treasury fixing »
• F/X fixing »
• Distribution of housing loan rates »

Listing of bonds at NASDAQ OMX Stockholm

NASDAQ OMX Stockholm also offers listing of bonds for issuers. NASDAQ OMX Stockholm offers listing services for Benchmark bonds, Corporate bonds and Retail bonds. Today over 1,800 SEK denominated bonds are listed at NASDAQ OMX Stockholm. Read more about listing of bonds.