The Danish infrastructure for securities trading consists of NASDAQ OMX Copenhagen and VP SECURITIES, both of which are under the supervision of the Danish Financial Supervisory Authority. In addition, trades in the largest Danish shares are cleared at NASDAQ OMX Copenhagen in the Dutch central counterparty EMCF.
In 2005, the Copenhagen Stock Exchange merged with the Swedish Company OMX where OMX was the surviving company. In 2007, American NASDAQ merged with OMX for the current NASDAQ OMX. NASDAQ OMX is the largest integrated securities market in Northern Europe and offers access to approx. 80 per cent of the Nordic and Baltic securities market. NASDAQ OMX Copenhagen (Copenhagen Stock Exchange's new name) is the centre of trade of listed Danish securities, including bonds, shares, derivatives and money market instruments. All trading with and clearing of derivatives is run from Stockholm and NASDAQ OMX has created a fully integrated Nordic derivatives market.
VP SECURITIES (former Værdipapircentralen) is responsible for the registration and settlement of trades with securities. The securities are recorded electronically, which means that trades can be made and executed quickly and safely. The legal ownership of the securities is transferred by registration in VP SECURITIES.
VP SECURITIES is electronically connected to the international central securities depository Euroclear. In 2000, the former "Værdipapircentralen" transformed from a private foundation to a public limited company owned by the market participants.
MTSDk is part of MTSAM (MTS Associated Markets). MTSAM is based in Belgium and is under Belgian supervision. MTSAM manages three trading platforms for government bonds, namely the Finnish MTS platform, MTS Finland, the Belgian platform, MTS Belgium, and finally the Danish trading platform MTSDk. MTSAM is owned by the participating market participants.
In addition to MTSDk, a Danish primary dealer system administered by Danmarks Nationalbank (The Danish Central Bank) has also been established.