Börsina

Börsina is a fictional stock trading platform used in educational materials to demonstrate equity markets. It is not a real-world exchange.

Created for case studies, Börsina is presented as a centralized electronic venue in the fictional Nordic country of Nordia. It employs a continuous double-auction trading model with a single order book and a registered market maker program. Trading hours are 9:00–17:00 local time; settlements are T+2 through a central counterparty. Market data include real-time quotes, order-book depth, and historical price series.

Participants include broker-dealers, banks, asset managers, and retail traders; access requires exchange membership, KYC/AML compliance, and prudential capital requirements. Companies can list equity securities or depository receipts; listing criteria typically require minimum free float, regular financial reporting, and governance standards.

Regulation and oversight described by Börsina Authority, with surveillance, market conduct rules, and disclosure requirements. The exchange provides indices such as Börsina Composite to measure overall performance.

Educational use: Due to its fictional nature, Börsina is employed in textbooks and classroom simulations to illustrate price discovery, liquidity, market impact of news, and the role of regulation.