Listing · 2026

Launch of two physically backed ETCs

Nordheim Capital

Legal, regulatory and operational coordination from product structure and prospectus through admission to trading of Nordheim Gold ETC and Nordheim Silver ETC.

Nasdaq Stockholm2026

First trading day4 June 2026

Products2 physically backed ETCs

Trading currencySEK

SymbolsNHGLD · NHSVR

01 · Starting point

What the company faced.

Nordheim Capital was preparing to establish itself as a Swedish issuer of exchange-traded commodities and launch the first physically backed, SEK-denominated ETCs on Nasdaq Stockholm. Legal documentation alone was not enough. Issuer governance, the prospectus, physical collateral, product terms, daily valuation, creation and redemption processes, and marketplace instrument data all had to work as one operating model.

02 · What we did

Concrete workstreams.

The scope below describes the public and high-level elements of the assignment.

Planning and coordination of corporate approvals, governance and issuer readiness for launch.
Legal work on the base prospectus, final terms, product descriptions and investor documentation.
Management of questions and supplemental submissions in the processes with the Swedish Financial Supervisory Authority and Nasdaq Stockholm.
Coordination of the collateral and custody structure for 1:1 backing in physical LBMA-certified gold and silver.
Coordination between the issuing agent, administrator, custodian, market maker and other operational providers.
A closing checklist for ISINs, symbols, product data, website publication, distribution materials, launch announcement and first trading day.

03 · Transaction path

From resolution to execution.

The principal public milestones. Each date depended on documents, reconciliations and deliverables being completed in the correct order.

01Structure phase
Product and responsibility chain
Product terms, physical collateral, fee model and the division of responsibility between issuer and external parties were brought into one structure.
02Regulatory phase
Prospectus and marketplace
Prospectus questions, final terms and Nasdaq requirements were handled in parallel to avoid inconsistent versions.
03Operational phase
End-to-end testing
Instrument data, valuation, creation and redemption, custody, trading and publication were checked before launch.
044 June 2026
Admission to trading
Nordheim Gold ETC and Nordheim Silver ETC began trading in SEK on Nasdaq Stockholm.

04 · Execution

How the process stayed aligned.

The project was run through parallel workstreams governed by one responsibility matrix and master timetable. Whenever a prospectus statement, product parameter or party role changed, the effect was checked across final terms, agreements, instrument data, investor information and operating instructions. Before launch, a detailed closing checklist assigned an owner, verification point and deadline to each deliverable, allowing the legal approval process and practical trading readiness to close in the correct order.

05 · Outcome

What actually happened.

Nordheim Gold ETC and Nordheim Silver ETC were admitted to trading on Nasdaq Stockholm on 4 June 2026. The products provide 1:1 exposure to physical LBMA-certified gold and silver respectively, trade in SEK and made Nordheim Capital the first Swedish issuer of this type of physically backed ETC.

Public record

Verifiable milestones.

The links document the public parts of the transaction. Confidential advice and internal work product are not reproduced.

Nasdaq Stockholm – welcomes Nordheim Capital as an ETC issuer↗Nordheim Capital – launch announcement dated 2 June 2026↗

Launch of two physically backed ETCs

What the company faced.

Concrete workstreams.

From resolution to execution.

Product and responsibility chain

Prospectus and marketplace

End-to-end testing

Admission to trading

How the process stayed aligned.

What actually happened.

Verifiable milestones.