What Is the NASDAQ OMX Nordic 120 and How Do You Trade It?

As a trader and investor, you're undoubtedly familiar with the Nasdaq stock exchange, the US's premier platform for stock trading, and associated indices such as the technology-focused Nasdaq 100. However, have you encountered the NASDAQ OMX Nordic 120 (NOMXN120)?

If not, this index is definitely worth keeping in mind, and here’s what you need to know about it:

TL;DR

• NOMXN120 Index: Measures the performance of 120 leading stocks on the Nasdaq Nordic exchanges.
• It is free-float weighted and based on publicly tradable shares’ market cap, not total company value.
• Top Companies: Novo Nordisk, Nordea, Volvo, Maersk, Ericsson, H&M, and more.
• Sector Diversity: Covers 10 sectors, including healthcare, finance, energy, telecom, and industrials.
• Trading Options: Available via Plus500 CFDs; trade long or short without owning assets.

What Is the Nasdaq Inc.?

First, to understand the NASDAQ OMX Nordic 120, it is important to familiarise oneself with Nasdaq Inc., under which it is branded.

The Nasdaq Inc., founded in 1971, is an American financial services company. It operates the following stock exchanges:

• In the US: The Nasdaq, Boston, and Philadelphia stock exchanges.
• In Europe: The Nasdaq Helsinki, Nasdaq Copenhagen, Nasdaq Iceland, Nasdaq Riga, Nasdaq Stockholm, Nasdaq Tallinn, and Nasdaq Vilnius.

What Is the Nasdaq OMX Nordic 120?

The NASDAQ OMX Nordic 120 is a stock market index tracking the performance of 120 leading stocks listed on the Nasdaq Nordic exchanges, which include Stockholm, Helsinki, and Copenhagen. It also considers stocks traded on Oslo Bors, though Oslo Bors is not part of Nasdaq Inc.

How Is the Nasdaq OMX Nordic 120 Measured?

The NASDAQ OMX Nordic 120 is a free-float market capitalisation-weighted index calculated and disseminated during trading hours on business days in the Nordic region. Each constituent’s weight in the index is determined by its market capitalisation adjusted for shares available to the public (free float), not just the company's total market value. The NASDAQ OMX Nordic 120 index is calculated and disseminated on a per-second basis during trading hours.

Top NOMXN120 Stocks

The following shares stand as arguably the most popular (based on their market capitalisation in June 2025):

• Novo Nordisk A/S
• Nordea Bank Abp
• Volvo AB
• ABB Ltd
• A.P. Moller - Maersk A/S
• H&M Hennes & Mauritz AB
• Ericsson AB
• Telia Company AB
• Orsted A/S
• Sampo Oyj
• Sandvik AB
• Skanska AB
• Nibe Industrier AB
• Hexagon AB
• SSAB AB

OMX Nordic 120 Index Market Sectors

NOMXN120 companies stem from 10 distinct Nasdaq OMX Nordic Tradable Sector Indexes.

• Bank & Insurance (NOMXNBI)
• Consumer (NOMXNCO)
• Construction & Real Estate (NOMXNCR)
• Energy (NOMXNEN)
• Health Care (NOMXNHC)
• Investment Companies (NOMXNIC)
• Industrials (NOMXNIN)
• Materials (NOMXNMA)
• Telecom & InfoTech (NOMXNTI)
• Transportation (NOMXNTP)

Why Trade the OMX Nordic 120 Index

Trading the NASDAQ OMX Nordic 120 may be a suitable option for traders and investors seeking access to the world's biggest and most traded companies in one place, without needing to trade each individually.

In addition, this index can help diversify your portfolio by exposing you to companies from different market sectors, such as energy, health care, financial services, telecommunications, and industrials.

How to Trade the NOMXN120 Index

Trading the NOMXN120 index can be done with Plus500's Contracts for Difference (CFDs), allowing you to go long and short of this index without owning it.

Other factors that may help you decide if you want to trade index CFDs with Plus500 include:

• A trading platform that is both easy to use and technologically advanced.
• Advanced and helpful tools:
  • Trading charts (e.g., candlesticks, lines, and mountains)
  • Charts with indicators (e.g., moving averages and Bollinger bands)
  • Exclusive features like "+Insights," deriving trading data from millions of Plus500 active users and providing key information on the most traded instruments, most bought, most sold, and most profit-and-loss-making, among others.
• Leveraged trading, magnifying both gains and losses.

Conclusion

The NASDAQ OMX Nordic 120 (NOMXN120) is an essential yet often overlooked index that offers access to some of the most influential companies in Northern Europe. By tracking leading stocks from Denmark, Finland, Sweden, and Norway, this index exposes investors and traders to a diverse range of sectors and market leaders. Whether you're aiming to diversify your portfolio or trade on the movements of major Nordic firms, the NOMXN120 offers a compelling opportunity in the global financial landscape.

Trade the Nasdaq OMX Nordic 120 CFD with Plus500!