The Nordic list is the main market of OMX Nordic Exchange, which is regulated under EU directives and under supervision by the national FSA. The listing requirements are based on European standards and EU directives, and intended for companies that are well established. The regulatory demands on OMX Nordic Exchange are higher than on First North, and there is a high stamp of quality connected to a listing on the Nordic list. All kinds of investors operate on the main market, from international to local investors as well as retail and professional investors. A listing on the Nordic list provides maximum exposure to the companies’ shares and business.

First North is an alternative to the Nordic list, with lighter requirements and rules. It is an exchange-regulated marketplace supervised by the Exchange and the Advisers. The legal rules for stock market companies, including IFRS and disclosure requirements, are not applicable to companies on First North. It suits small, young or growth companies. First North combines the benefits of being public with simplicity, and is often the first step towards the main market. The regulatory demands are less extensive than on the Nordic list and hence there is a higher risk connected to investments on First North. This can also mean higher earning potential on the investments. First North provides a large investor base since the infrastructure is based on the same trading and settlement systems as the main market.