Market infrastructure - Denmark


Institutions and organisation

Stock Exchange - Nasdaq Copenhagen A/S (

Nasdaq Copenhagen A/S is the marketplace for Danish securities, including shares, bonds, treasury bills and notes, and financial futures and options.
Stock exchange activities within the Nasdaq Copenhagen A/S are operated under the provisions of the stock exchange licences possessed by Nasdaq Copenhagen A/S, Nasdaq Stockholm AB, Nasdaq Helsinki Ltd and Nasdaq Iceland hf.
Nearly all exchange trades are settled at the Danish central securities depository, VP Securities A/S (VP).

CSD - VP Securities A/S (

VP is the Danish central securities depository and clearing organisation and its activity is governed by the Danish Securities Trading Act 1995.

VP is in charge of the clearing and settlement as well as the registry of ownership and all other rights to securities listed on Nasdaq Copenhagen A/S. Moreover, VP acts also as the National Numbering Agency, allocating ISIN codes for securities issued in Denmark.

Central Bank of Denmark - Nationalbanken (

The Central Bank, amongst other responsibilities, plays a central role in the payment systems and the financial markets. It is also in charge of supervising the day-to-day monetary and foreign exchange operations.

Regulatory structure

Federal Service for Financial Markets - Finanstilsynet (

Finanstilsynet, the Danish Supervisory Authority of Financial Affairs (FSA) reports to the Ministry of Economic and Business Affairs and is in charge of the supervision of both the OMX Nordic Exchange Copenhagen and the CSD, VP.

The Danish Securities Council - Fondsraade (

The Danish Securities Council is in charge of the supervision of Nasdaq Copenhagen A/S and is an independent council that has overall responsibility for the framework within which the market operates and its supervision. Together with the Danish Financial Supervisory Authority, this body secures the enforcement of the Securities Trading Act.