XBT Provider AB (Publ), the issuer of four series of Tracker Certificates referenced to cryptocurrencies BTC and ETH (Bitcoin Tracker One, Bitcoin Tracker Euro, Ether Tracker One and Ether Tracker Euro) has announced its immediate return to the non-MMO market segment (NMMO) of Nasdaq’s First North Stockholm exchange, effective as of the opening bell today, January 18th, 2018.
It was XBT Provider’s opinion, which formed in light of extensive discussions with Nasdaq Stockholm, the issuer’s official market-maker and other market participants, that a market, such as NMMO, which provides an opening auction is better suited to instruments such as XBT’s Tracker Certificates.
As a result of this return to the NMMO market segment, the issuer’s Tracker Certificates will:
1) open with an auction without the Market Maker Order / Market Price Protection functionality
2) will have ‘volatility guards’ on the order books, designed to provide ‘protection’ during periods of continuous trading.
XBT Provider AB, a CoinShares company, is the Swedish-domiciled issuer of Bitcoin Tracker One, Bitcoin Tracker Euro and Ether Tracker One, Ether Tracker Euro. These trackers are designed to mirror the return of the underlying asset, bitcoin, and ether (in Swedish Kronor and Euro, respectively). In 2015, Bitcoin Tracker One became the first bitcoin-referenced security available on a regulated exchange when it listed on NASDAQ in Stockholm. In 2017, Ether Tracker One became the first ether-referenced security available on a regulated exchange when it listed on NASDAQ in Stockholm.