no 34/09 Changes to the Clearing Rules


Lysaker, 3 April 2009
The forthcoming system upgrade includes a switch of clearing applications, wherby the Clearing Desk Application (CDA) currently in use will be replaced with the Secur Participant Interface (Clearing PI). The change entails changes in the functionality of the clearing application and in the clearing routines. 

The General Terms of the Clearing Rules have been amended in several places to accommodate for changes due to the system upgrade. Inter alia, all General Clearing Members and Clearing Members will have intra day accounts following the system upgrade and this has necessitated changes throughout the rulebook. 

The following documents have also been updated and/or replaced due to the system upgrades:

• Clearing Appendix 1  - Definitions 
• Clearing Appendix 4  -   Clearing Schedule 
• Clearing Appendix 5   -   Procedures for Clearing of Non-Exchange Transactions 
• Clearing Appendix 6   -   Clearing PI User Terms 
• Clearing Appendix 9   -   Market Conduct Rules (Section 2)
• Clearing Agreement G  - Broker Agreement

In addition, Trading Appendix 3; Trading Schedule, is affected by the system upgrade and has been amended.

The system upgrade also includes new technical functionalities such as give up/take up of Transactions, and provisions have been added to a new Section 5.4 in the General Terms of the Clearing Rules while simultaneously changing the previous Section 5.4 to 5.5 and so on. 

The new documentation has been published under /en/asa/clearing/Rulebook/ legal framework 
For further information, please contact NASDAQ OMX Commodities: 

Eivind Grimsø Moe, legal counsel, phone +47 6752 8284

Linda Virkesdal, vice president, phone +47 6710 8420